Reverse mortgage volume is lagging behind its year-ago levels, and that’s no secret. But while the greater industry feels the strain of sluggish endorsement production, certain markets are brimming with activity, recent industry data indicates.
Through the first half of 2016, endorsements of Home Equity Conversion Mortgages (HECMs) through totaled 24,634 units, a decrease of 13.1% compared to the same year-ago period in 2015, according to most recent analysis from Reverse Market Insight.
At the midpoint, it appears as though 2016 is on track to be be one of the lowest volume years the industry has seen in the last decade. And with July’s numbers coming in at 3,534 units, the volume trend line is primed for an ever further dip below recent comparable years.