Last month’s government-insured reverse mortgage production was the slowest it has been since last year. But there was a year-over-year improvement.
Home-equity conversion mortgages that were endorsed by the Federal Housing Administration added up to 4,254 during July.
That turned out to be the slowest month for government reverse mortgage production since November 2016, when FHA endorsed 3,891 HECMs.
Source: Mortgage Daily