A superficial month-over-month decline was recorded for government-insured reverse mortgage production. Year-over-year results were positive.
The Federal Housing Administration provided endorsements for 4,854 home-equity conversion mortgages during all of May 2017.
Business slowed from 5,036 units the previous month. But volume increased compared to the same month last year, when 3,646 HECMs were endorsed.
Source: Mortgage Daily