General World News

Reverse mortgage volume drops in August

The reverse mortgage volume boom appears to have diminished for now, at least if new data is any indication.

Home Equity Conversion Mortgage (HECM) endorsements fell in August, 2021 by 14.3% to 3,679 loans, with July now having marked the end of a streak of monthly volume above a threshold of at least 4,000 units that has been observed since late 2020. This is according to data compiled by Reverse Market Insight (RMI).

However, the production of new HECM-backed securities (HMBS) recorded just under $1.1 billion in HMBS issuance in the sixth month of details ⇒

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