Monthly originations of federally insured reverse mortgages were down by nearly a fifth, though the biggest producer managed a gain.
The Federal Housing Administration provided endorsements on 4,671 home-equity conversion mortgages during all of September.
Reverse Market Insight reported the data.
HECM endorsements moved significantly lower compared to the previous month, when FHA insured 5,750 reverse mortgages. August volume was the highest since July 2013.
But government-insured reverse mortgage
production improved from the same month last year, when FHA endorsed 3,762 HECMs.
During all of its fiscal-year 2015, FHA endorsed 58,053 HECMs.
In the nine months ended Sept. 30, HECM endorsements amounted to
43,849.
Last month’s HECMs were originated by 454 active FHA lenders, seven fewer than in September 2014.
The biggest among those lenders was American Advisors Group, which generated 1,239 endorsements, 19 more than in August.
No. 2 Liberty Home Equity Solutions Inc. was responsible for 401 units during September, tumbling from 570 endorsements the previous month.
At One Reverse Mortgage LLC, September HECM endorsements totaled 353, declining by 40 units in the prior report.
At 315 HECM endorsements, Urban Financial of America LLC landed in the fourth spot. Urban’s business slumped from 495 loans in August.
No. 5 RMS/Security One Lending saw HECM volume drop to 265 from 474 in August.
