Home Equity Conversion Mortgage (HECM) endorsements saw an artificial increase in November due to the federal government shutdown, an effect that may continue into December. Meanwhile, activity in the secondary market slowed down, according to reports released this week.

In total, the Federal Housing Administration (FHA) insured 3,905 HECMs in November — a nearly 77% increase from 2,211 in September – according to data compiled by Reverse Market Insight (RMI).

“No HECMs were endorsed in October, so November’s figures are inflated relative to a normal month due to the delays resulting from the government details ⇒

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