Mortgage Daily Logo
mortgage news from industry experts

FHA Reverse Mortgage Originations Slide

Monthly originations of federally insured reverse mortgages were down by nearly a fifth, though the biggest producer managed a gain.

The Federal Housing Administration provided endorsements on 4,671 home-equity conversion mortgages during all of September.

Reverse Market Insight reported the data.

HECM endorsements moved significantly lower compared to the previous month, when FHA insured 5,750 reverse mortgages. August volume was the highest since July 2013.

But government-insured reverse mortgage
production improved from the same month last year, when FHA endorsed 3,762 HECMs.

During all of its fiscal-year 2015, FHA endorsed 58,053 HECMs.

In the nine months ended Sept. 30, HECM endorsements amounted to

Last month’s HECMs were originated by 454 active FHA lenders, seven fewer than in September 2014.

The biggest among those lenders was American Advisors Group, which generated 1,239 endorsements, 19 more than in August.

No. 2 Liberty Home Equity Solutions Inc. was responsible for 401 units during September, tumbling from 570 endorsements the previous month.

At One Reverse Mortgage LLC, September HECM endorsements totaled 353, declining by 40 units in the prior report.

At 315 HECM endorsements, Urban Financial of America LLC landed in the fourth spot. Urban’s business slumped from 495 loans in August.

No. 5 RMS/Security One Lending saw HECM volume drop to 265 from 474 in August.

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...


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