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Reverse mortgage retail originations beat wholesale numbers in 2023

The reverse mortgage industry already knew that Home Equity Conversion Mortgage (HECM) endorsement volume in 2023 was cut nearly in half compared to 2022, but new data shows that the decline was not the same between the retail and wholesale channels of the business. The pullback in retail was not as severe as the one in wholesale.

HECM endorsements in the retail channel dropped by 43.4% in 2023, while the wholesale channel saw a steeper decline of 55% compared to 2022, according to recent data from Reverse Market Insight (RMI). To get a details ⇒

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