Mortgage Daily Logo
mortgage news from industry experts

Monthly HECM Production Slips

Last month was a little slower both on a month-over-month and year-over-year basis for originators of federally insured reverse mortgages.

Home-equity conversion mortgages that were endorsed by
the Federal Housing Administration numbered 4,243 in the month of April.

That was not quite as good as during
the previous month, when FHA mortgagees generated a total of 4,535 reverse mortgage endorsements.

Activity also fell short of volume during the same month last year, when FHA endorsed 4,497 HECMs.

Historical data from Reverse Market Insight, which reports the statistics, indicate that from Jan. 1 through April 30, HECM endorsements amounted to 17,247 loans.

Last month’s endorsements were originated by
358 FHA mortgagees, fewer than the 367 active lenders in April 2015.

Among April 2016’s most active mortgagees was American Advisors Group, where HECM endorsements totaled 966 — more than any other lender but fewer than the 999 endorsements in March.

No. 2 Liberty Home Equity Solutions Inc. was responsible for 446 HECM endorsements during April, surging from 338 a month earlier.

One Reverse Mortgage LLC obtained 316 HECM endorsements from FHA, slipping from 322 in March.

After that was Finance of America Reverse LLC, which saw volume dip to 270 HECMs during April from 286.

No. 5 was Reverse Mortgage Funding LLC, where activity accelerated to 262 HECMs last month from 227.

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts

THE TRUSTED PROVIDER OF ACCURATE RATES AND FINANCIAL INFORMATION