It’s been more than a year-and-a-half since the production of government-insured reverse mortgages was as strong as it was last month.
Home-equity conversion mortgages that were endorsed by the Federal Housing Administration during the month of June numbered 5,296.
That was the most HECMs endorsed by FHA since August 2013, a month that saw 5,382 government-insured reverse mortgages insured.
The HECM activity was reported by Reverse Market Insight.
In May 2015, HECM endorsements totaled 4,273, while the figure was just 3,927 in June 2014.
During the first half of 2015, HECM endorsements amounted to
28,399.
Since starting its fiscal-year 2015 on Oct. 1, 2014, FHA has endorsed 42,603 reverse mortgages.
Last month’s HECMs were originated by 408 mortgagees, fewer than the 430 active HECM lenders in June 2014.
Included among June 2015’s active lenders was
American Advisors Group, where volume totaled 1,201 HECMs — more than any other mortgagee. American Advisors’ production picked up from 1,010 a month earlier.
No. 2 One Reverse Mortgage LLC saw HECM originations increase to 534 from 518 in May.
After that was Liberty Home Equity Solutions Inc., which lifted reverse mortgage volume to 433 in June from 321 the previous month.
At RMS/Security One Lending, endorsements leapt to 343 from just 244 during May.
No. 5 Urban Financial of America LLC pushed up business to 326 from 270 one month prior.
