General World News

Reverse mortgage volume, securities issuance decline in June

After the reverse mortgage industry’s key performance metrics rallied in May, June fared slightly worse than previously telegraphed by case number assignments.

Home Equity Conversion Mortgage (HECM) endorsements fell by 14.4% in June to 2,105, while HECM case numbers for May dropped 7.9% to 3,214. This is according to data compiled by Reverse Market Insight (RMI).

Meanwhile, HECM-backed Securities (HMBS) issuance also fell by $29 million in June to a total of $497 million for the month. There were 86 pools issued, the same number as in May, and only slightly less than the 89 pools issued in April. details ⇒

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