Although there was a month-over-month decline in federally insured reverse mortgage production, activity accelerated on a year-over-year basis.
During the first month of the new year, endorsements of home-equity conversion mortgages by the Federal Housing Administration came to 4,578 units.
Volume slipped from the final month of last year, when 4,658 HECMs were endorsed. But business was improved over 3,890 in January 2016.
Source: Mortgage Daily