Oregon FHA HECM/ Reverse Equity Loans Top $572 Million in FY 2008.

I have just prepared the first ever summary of HECM loans in Oregon. It covers[federal] FY 2008, from October 2007 to September 2008.

The report HERE includes loan counts and $$ for the state as a whole, by county, and also by individual lender.

Highlights:

• 2,460 FHA HECM loans were made.
• Total loans $$ (maximum claim amounts) exceeded $572 million.
• 2/3rds of all Oregon FHA HECM loans were made OUTSIDE of the 3 county Portland Metro area (Clackamas, Multnomah, Washington).
  
• While there were 159 different lenders who made FHA HECM loans, the top 10 lenders accounted for more than 51% of the loan activity, and the top 25 accounted for 74% of HECM loans made.