A modest decline was recorded for monthly production of government-insured reverse mortgages, though there was a year-over-year rise.
The number of home-equity conversion mortgages that were endorsed by the Federal Housing Administration in April 2017 came to 5,036.
Historical data from Reverse Market Insight, which reported last month’s numbers, indicate that
FHA has endorsed 19,404 reverse mortgages during the first-four months of this year. Since starting its fiscal-year 2017 on Oct. 1, 2016, there have been 31,872 HECMs endorsed.
So far this year, there have been 324 FHA mortgagees that were responsible for HECMs that have been endorsed, fewer than 358 at the same point in 2016.
The biggest originator of HECMs during April 2017 was American Advisors Group, where there were 993 loans endorsed, falling from 1,167 in March.
No. 2 Liberty Home Equity Solutions Inc. saw volume decline to 462 from 536.
Finance of America Reverse LLC was responsible for 439 HECMs in April, fewer than 482 a month earlier.
In the fourth spot was Reverse Mortgage Funding LLC, where endorsements totaled 364 last month, one more than in March.
No. 5 One Reverse Mortgage LLC pushed up production to 261 in April from 253 the previous month.