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HECM Endorsements Rise From Prior Month, Year

FHA endorsed 5% more HECMs in December

Jan. 6, 2016

By Mortgage Daily staff

The final month of last year saw more reverse mortgages insured by the government, while full-year 2015 volume also ascended.

Home-equity conversion mortgages that were endorsed by the Federal Housing Administration during December numbered 4,233.

Government-insured reverse mortgage business picked up from one month prior, when HECM endorsements worked out to 4,023.

Reverse Market Insight reported the data.

But HECM business has slowed versus one year prior, when FHA endorsed 4,942 units.

During the 12 months ended Dec. 31, 2015, FHA endorsed 56,437 HECMs. The annual total was up from 52,754 in 2014.

For just the first three months of its fiscal-year 2016, FHA has endorsed 12,588 HECMs.

December 2015's HECMs were originated by 469 active lenders. HECM lender count has diminished from a year earlier, when 489 lenders were active in the sector.

Last month's largest lender was American Advisors Group, where HECM endorsements totaled 1,028, six more than in November.

No. 2  RMS/Security One Lending generated 413 endorsements in December, jumping from 320 the previous month.

One Reverse Mortgage LLC originated 351 of the HECMs endorsed by FHA, seven fewer than in November.

After that was Urban Financial of America LLC, where endorsements rose to 326 in the final month of 2015 from 302.

No. 5 Reverse Mortgage Funding pushed production up to 207 HECMs endorsed from 192 a month earlier.

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