Although monthly originations of government-insured reverse mortgages were off less than 5 percent at wholesalers, retailers experienced a more than 7 percent drop.
Retail originators of home-equity conversion mortgages were responsible for 2,033 of the 3,350 HECMs endorsed by the Federal Housing Administration during July.
Endorsements from the retail channel retreated from 2,190 the previous month. The decline was even more significant versus a year previous, when the total was 2,694.
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From:: Financing