Rebounding from four consecutive months of below average performance, the number of HECM reverse mortgages originated rebounded in January posting the fourth best monthly performance on record. The 9,957 HECM’s approved in January represented a 24% increase over the 8,007 HECMs endorsed in the prior month (December 2007) and a 13% jump over the 8,824 endorsements made in January 2007. (more…)

HUD has reported Home Equity Conversion Mortgage (HECM) endorsements for December 2007 and, as the chart below shows, growth continues to slow markedly from the first months of 2007.

Key Points: (more…)