Although monthly government-insured reverse mortgage originations dipped at wholesalers, volume tumbled at retail originators of reverse mortgages.
Retail originations made up 2,199 of the 3,889 home-equity conversion mortgages endorsed by the Federal Housing Administration.
Retail volume tumbled compared to the previous month, when 2,524 were endorsed.
It was also down from the 2,874 endorsed the first month of last year.
The data were collected and reported by Reverse Market Insight.
FHA endorsed 1,690 HECMs during the latest month that were originated by wholesale lenders, off from 1,705 in December.
The decline was more poignant versus 2,062 wholesale endorsements in January 2015.
Among the surveyed originators of proprietary reverse mortgages, originations increased 4 percent between December 2015 and January 2016.
On a year-over-year basis, though, proprietary volume has tumbled 22 percent.
Finance of America Reverse LLC landed the top proprietary spot in January 2016 with 187
loans funded, though that was slower than 227 a month earlier.
No. 2 was Liberty Home Equity Solutions Inc., where volume soared to 136 units from only 33 in December.
After that was American Advisors Group, which pushed up business to 105 closings from 85 the prior month.
With 72 proprietary reverse mortgages closed in January, RMS/Security One Lending grabbed the next spot. Originations fell from 88 loans a month earlier at RMS.
No. 5 Cherry Creek Mortgage Co. saw production slip to 66 units from 74 in December.
