Reverse mortgage originations that are insured by the federal government saw restrained activity as monthly volume was tethered near a four-year low.

A total of 3,359 home-equity conversion mortgages were endorsed by the Federal Housing Administration during May 2018.

The number wasn’t far off from 3,345 HECM endorsements the preceding month — when volume was the lowest it’s been since August 2014.

Source: Mortgage Daily