Actually over the last six months fewer than 60% of counseling sessions resulted in an endorsed HECM. There was a huge bulge in sessions in September in anticipation of a cut in principal limit factors on October 1st. But because the lookup floor was changed from 5.50% to 5.00%, the cut had a positive effect on most principal limits.
Actually over the last six months fewer than 60% of counseling sessions resulted in an endorsed HECM. There was a huge bulge in sessions in September in anticipation of a cut in principal limit factors on October 1st. But because the lookup floor was changed from 5.50% to 5.00%, the cut had a positive effect on most principal limits.