Last month’s production brought to more than a million the number of reverse mortgages that have been insured by the federal government.
During the first month of fiscal-year 2017, the Federal Housing Administration endorsed 3,919 home-equity conversion mortgages.
HECM production improved from September, when 3,741 loans were endorsed, but fell short of 4,332 endorsements in October 2015.
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From:: Financing