Although there was a month-over-month decline in federally insured reverse mortgage production, activity accelerated on a year-over-year basis.
During the first month of the new year, endorsements of home-equity conversion mortgages by the
Federal Housing Administration came to 4,578 units.
Volume
slipped from the final month of last year, when 4,658 HECMs were endorsed. But business was improved over 3,890 in January 2016.
Reverse Market Insight reported the data.
January 2017’s endorsements were generated by
192 FHA mortgagees, declining from 224 a year earlier.
American Advisors Group was the busiest mortgagee last month with 963 HECMs endorsed, though that was fewer
than 1,014 in December 2016.
No. 2 Reverse Mortgage Funding LLC saw volume dip to 424 units in January 2017 from the previous month’s 469.
Finance of America Reverse LLC landed in the third spot with 366 reverse mortgages endorsed by FHA, nine more than in December 2016.
One Reverse Mortgage LLC originated 287 HECMs that were endorsed by FHA in January, slipping from 294 a month earlier.
No. 5 Synergy One Lending Inc. generated 237 of the HECMs endorsed last month, more than 225 in December.
Walter Investment Management Corp. has made a strategic decision to end HECM originations at subsidiary-RMS/Security One Lending, which was responsible for 163 endorsements in January.
