Shrinking Pool of Reverse Lenders Lift Originations
The number of companies originating federally insured reverse mortgages may have fallen by more than half compared to a year ago, but the remaining pool managed to increase business last month.

During the first month of this year, 5,175 home-equity conversion mortgages were endorsed by the Federal Housing Administration, according to Reverse Market Insight.

Volume grew from December, when 4,636 HECMs were insured.
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No Improvement in FHA Delinquency for 8 Months
The Federal Housing Administration managed to lift its mortgage volume last month, though annual volume fell, reverse mortgage business slipped and upcoming activity appears headed lower. Serious delinquency has not improved for eight months.

Ginnie Business Slows
Mortgage securitizations by Ginnie Mae issuers slipped from the prior month and have fallen by 18 percent over the past year. Securitization activity for apartment loans is holding up relatively well.

Record Production at Quicken
More home loans were closed last year at Quicken Loans Inc. than in any other year since the company has been in business. It was also a record quarter.

MetLife Texas Layoffs Exceed 800
More than 800 Texas employees will lose their jobs as a result of MetLife Inc.'s decision to close down its home-loan business.

Wholesalers Step Up Reverse Business
Third-party originators stepped up their monthly production of federally insured reverse mortgages, though the same couldn't be said for retail originators. But the improvement in wholesale was enough to offset the retail decline and push overall activity up.

Ginnie Business Grows
Issuers for the Government National Mortgage Association securitized more mortgages on a monthly basis, but business has contracted on a year-over-year basis.

Biggest Retail HECM Lender in 2011
The origination of federally insured reverse mortgages was lower last year as three of the sector's players announced plans to exit the business. As its swan song, one of the departing trio grabbed the title of biggest reverse lender of 2011.

Mortgage and Bank Failures Fall in 2011 The U.S. mortgage industry saw a marked decline in business closings last year. Non-bank casualties fell to the lowest level since before the financial crisis, while bank failures fell for the first time in six years. The biggest players in reverse mortgage lending called it quits.