REVERSE MORTGAGE INFORMATION: Tools, News and Resources to Help Seniors Decide

For years, California has dominated the reverse mortgage scene accounting for nearly one-third of the total HECMs endorsed as recently as CY2006. Figures through September 2007, however, show that HECM endorsements in the Golden State have fallen sharply when viewed as a percentage of the total HECM activity.

Florida HECM production, meanwhile, continues to be strong and growing in 2007. Indeed, Florida appears poised to surpass California as the top state for HECM endorsements. (more…)

The number of HECM reverse mortgage endorsements moved lower for the second consecutive month in September. The 7,695 HECM loans endorsed in September was the lowest monthly total since November 2006 and represented a steep 14% drop below the 12-month moving average trend line for HECM loan growth. (more…)

According to figures recently released by HUD, the number of HECM reverse mortgages endorsed during the month of August was down 14% from July, once again repeating the “up-down” alternating monthly pattern evident since February of this year. Still, the August total of 9,006 HECM endorsements represents only the fifth time that monthly HECM totals have surpassed the 9,000 mark and is a 46% increase over the number of HECM reverse mortgage mortgages endorsed in August 2006.

Total HECMs endorsed so far in 2007 are 75,904 a 39% increase over the 54,512 HECMs endorsed in the first eight months of 2006. (more…)