Government-insured reverse mortgage production retreated last month, though there were a few large producers that were able to lift volume.
The Federal Housing Administration provided endorsements on 3,891 home-equity conversion mortgages during November of this year.
Production slipped compared to the previous month, when 3,919 HECMs were endorsed. Business also slowed from 4,023 a year previous.
Historical data from Reverse Market Insight, which provided the latest numbers
Friday, indicate that 44,136 HECMs have been endorsed by FHA during the first-11 months of this year. So far during fiscal-year 2017, there have been 7,810 HECMs endorsed.
This year’s HECMs were originated by 414 active mortgagees, fewer than 464 in same period during 2015.
Last month’s biggest producer was American Advisors Group, where endorsement volume dipped to 832 units from 838 in October.
No. 2 Finance of America Reverse LLC saw activity rise to 471 HECMs in November from 404.
At One Reverse Mortgage LLC, production climbed to 270 endorsements from 242 a month earlier.
In the fourth spot was Reverse Mortgage Funding LLC, where HECMs originations tumbled to 195 from 326 in November.
No. 5 was Synergy One Lending, with volume inching up to 187 from 185.
