Reverse mortgage volume saw a big jump in endorsements during August, a welcoming increase after what has been a dismal summer for industry production, according to recent market data.

Home Equity Conversion Mortgage (HECM) endorsements rose 24.1% in August to 4,387 loans, reports the latest industry data tracked by Reverse Market Insight (RMI). The month marks the first time endorsement volume has surpassed 4,000 units since April (4,243).

All 10 regions tracked by RMI reported endorsement growth, with the Rocky Mountain region leading the way with a 54.8% gain in August of 356 loans. Only one region, New York/New Jersey, reported a single-digit increase, though volume in the area grew 9.4% with 290 units in August.

The Pacific/Hawaii, which remained the top region by volume, saw endorsements rise 21.6% to 1,210 loans. The region was followed by the Southeast/Caribbean, which reported 863 loans to rank second among all regions, signaling a 24.2% monthly increase from July.

While the August lift in endorsements is a welcoming sight for the reverse mortgage market, where 2016 volumes have largely dulled in comparison to recent years, industry data suggests future turbulence may be in store as the rest of the year unfolds.

“It was great to see the improvement in volume, but recent application trends don’t make me think we’re headed for a sustained period of steady growth, unfortunately,” RMI President John Lunde told RMD.

Among the top-10 industry lenders, seven posted higher volumes in August compared to the previous month.

In terms of growth, Reverse Mortgage Funding led the way with a 74.2% increase to bring its August endorsement volume to 460 loans. The company ranks sixth among the top-10 lenders by volume during the 12 months trailing August 2016.

Finance of America Reverse also had a big August, seeing its monthly production grow 73.8% with 518 loans, up from 298 units during the previous month. In the 12 months trailing August, FAR ranks second among all lenders in terms of unit count with 3,936 loans, behind only American Advisors Group, whose 12-month trailing total is 11,532 loans. AAG’s single month volume for August dropped 2.6% to 850 loans, down from 873 in July.

HighTechLending also rebounded in a big way in August. The company’s 137 loans during the month were 71.3% higher than its July tally of just 80 loans—a total that was nearly 50% lower than its June volume of 159 units. Through the 12 months trailing August, HighTechLending ranks ninth among lenders with 1,113 total loans.

On a year-to-date basis, Nationwide Equities Corp. rounds out the top-10 lenders with a total 735 loans through August. This represents an increase of 174% compared to the company’s year-ago volume through the first eight months of 2015.

See where other reverse mortgage industry lenders ranked through August 2016.

Written by Jason Oliva