It’s been more than a decade since the production of new federally insured reverse mortgages came in as low as it did last month.
Home-equity conversion mortgages endorsed by the Federal Housing Administration numbered 2,838 during June, according to Reverse Market Insight.
Last month turned out to be the slowest month on record based on RMI monthly endorsement volume statistics going as far back as December 2008.
Source: Mortgage Daily
