Building on momentum seen in April, reverse mortgage volume and securities issuance each posted gains in May, with a caveat in place about the runway ahead from case number assignments in April.

Home Equity Conversion Mortgage (HECM) endorsements increased by 16.9% to 2,460, while HECM case numbers remained relatively flat compared to April, which could result in a scenario that interrupts a recent streak of consecutive monthly increases. This is according to data compiled by Reverse Market Insight (RMI).

Meanwhile, HECM-backed Securities (HMBS) issuance also rose in May by $23 million, totaling $526 million details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com