Federally insured reverse mortgage production moved higher both on a month-over-month basis and on a year-over-year basis.
Federal Housing Administration mortgagees were responsible for 4,782 home-equity conversion mortgage endorsements during November.
HECM production picked up from the preceding month, when 4,497 units were endorsed, and the same month in 2016, when the number was 3,891.
Reverse Market Insight delivered the data.
From
Jan. 1, 2017, to Nov. 30, FHA endorsed 52,147 HECMs, while the total for the first-two months of fiscal-year 2018 was 9,279.
The calendar year-to-date total was generated by 403 FHA mortgagees, slightly fewer than the 414 active mortgagees during the same period
last year.
Last month’s most-active mortgagee was American Advisors Group, where the 1,132 reverse mortgages it was responsible for were more than 983 in October.
No. 2 Finance of America Reverse LLC, a Mortgage Daily advertiser, generated 425 of the latest total, falling from 509 in October.
At Reverse Mortgage Funding LLC, volume climbed to 399 units from 358 a month earlier.
With 350 endorsements, Synergy One Lending Inc. landed in November’s No. 4 spot. Business improved from 285 the prior month.
No. 5 Liberty Home Equity Solutions Inc. saw activity drop to 230 HECMs from 266 in October.
