Government-insured reverse mortgage production decelerated last month after achieving a nearly seven-year high. Changes to premiums are behind the see-saw activity.
February saw 5,201 U.S. home-equity conversion mortgages that were endorsed by the Federal Housing Administration.
HECM production slowed from the preceding month, when endorsements soared to 6,313 — the busiest month since March 2011.
Source: Mortgage Daily