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Home equity conversion mortgages, HECM lenders and HECM reports. Reverse mortgage lending issues, analysis and compliance.
HECM Originations Slow

July endorsements down 5% from prior month

Aug. 4, 2015

By Mortgage Daily staff

Originators of federally insured reverse mortgages lost momentum last month, though volume moved ahead on a year-over-year basis.

The Federal Housing Administration endorsed 5,029 home-equity conversion mortgages during July.

That was according to data published by Reverse Market Insight.

Endorsement volume declined from a month earlier, when 5,296 reverse mortgages were insured by FHA.

But business escalated from the same month last year, when 4,092 HECMs were endorsed.

From Jan. 1 through July 31, FHA endorsed 33,428 HECMs.

Since starting its fiscal-year 2015 on Oct. 1, 2014, FHA has endorsed 47,632 HECMs.

Last month's HECMs were originated by 425 active FHA mortgagees, fewer than the 444 that were active a in July 2014.

July 2015's most-active mortgagee was American Advisors Group, which generated 1,256 HECM endorsements -- though that was fewer than the 1,201 it generated one month prior.

No. 2 was Urban Financial of America LLC, where volume leapt to 478 reverse mortgages from 326 in June.

After that was RMS/Security One Lending's 389 endorsements, 46 more than the prior month.

Liberty Home Equity Solutions Inc. landed in the fourth spot with 370 HECMs endorsed, declining from 433 in June.

No. 5 One Reverse Mortgage LLC was responsible for 333 HECM endorsements in July, tumbling 201 units from the previous report.

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