Government-insured reverse mortgage production slowed last month. While endorsements were down at three of the top-5 players in the space, two lenders made gains.
There wasn’t much of a month-over-month change in home-equity conversion mortgage business, with Federal Housing Administration endorsements slipping to 4,497 in October from 4,592 during September.
For all 10 months of 2017 that have been reported so far, FHA, which is part of the Department of Housing and Urban Development, has endorsed 47,365 reverse mortgages.
Source: Mortgage Daily