Last month’s origination of federally insured reverse mortgages was down both on a month-over-month basis and from a year earlier.
Home-equity conversion mortgages endorsed by the Federal Housing Administration numbered 4,410 during November.
Business retreated from the previous month, when reverse mortgage originators obtained 4,852 endorsement.
Activity also diminished from the same month last year, which saw 4,690 HECM endorsements.
The production data was reported by Reverse Market Insight.
FHA has endorsed 9,262 HECMs since its fiscal-year 2015 began on Oct. 1.
The top HECM originator last month was American Advisors Group, where volume fell to 1,040 units from 1,208 in October.
No. 2 RMS/Security One Lending saw production slow to 418 endorsements in November from 454 a month earlier.
One Reverse Mortgage LLC followed with 370 HECMs closed, tumbling from the prior month’s 443 endorsements.
Next was Liberty Home Equity Solution Inc.’s 314 HECMs, then Urban Financial of America LLC’s 288 loans.
