As federally insured reverse mortgage production had a moderate bounce off decade-low monthly volume, the biggest originators retreated again.
The Federal Housing Administration endorsed 2,908 home-equity conversion mortgages during July. Endorsements occur after the loan has closed.
HECM production increased from June, when units endorsed numbered 2,838 — the fewest reverse mortgages endorsed by FHA in at least a decade.
Source: Mortgage Daily