HECM lenders see subdued numbers to start the year

Early-year data shows a noticeable slowdown in government-backed reverse mortgage endorsement volume, and the rise of proprietary products may be playing a role. 

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Endorsements of Federal Housing Administration-backed Home Equity Conversion Mortgages dropped 20.7% between January and February to 1,821 transactions, according to the latest data from Reverse Market Insight….