The article discusses the current state of Home Equity Conversion Mortgage (HECM) endorsements, with Jon McCue, RMI's director of client relations, stating that trends have been as expected. After four months of rising applications, the recent lack of HUD data complicates future assessments. McCue cautions that rising rates could lead to a decline in endorsements, particularly with February's shorter month. The Rocky Mountain region saw a notable rise in endorsements, illustrating competitive dynamics among lenders, with Finance of America surpassing Mutual of Omaha in January endorsements but the latter maintaining overall leadership in the past year.
RMI's director Jon McCue highlights the uncertainty in forecasting due to the lack of recent application data, suggesting potential declines in endorsements as interest rates rise.
Despite a recent increase in endorsements in the Rocky Mountain region, there's speculation of borrowed time for the industry as market fluctuations and rising rates may lead to short-term declines.
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