For the third month in a row, originators of home-equity conversion mortgages have turned in declining performance.
The Federal Housing Administration endorsed 4,497 HECMs during April. Business retreated from the previous month, when 4,640 endorsements were handed out.
The statistics were reported by the newsletter Reverse Market Insight.
Reverse mortgage endorsements have declined each month since January, when FHA endorsed 4,946 HECMS.
In April 2014, FHA endorsed 4,170 loans.
Last month’s business was originated by 367 mortgagees, declining from the 394 active HECM lenders in April 2014.
The biggest originator in April was American Advisors Group, where volume fell to 1,078 endorsements from 1,155 a month earlier.
At One Reverse Mortgage LLC, production dropped to 439 HECMs from 487 endorsed in March.
With 423 HECM endorsements, RMS/Security One Lending was No. 3.
Fourth-place Urban Financial of America LLC saw business slip by a single endorsement from March to 338.
Rounding out the top five was Liberty Home Equity Solutions Inc., which saw endorsement activity plunge to 307 from 390 the prior month.
