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« Reverse Mortgage Rates – April 28, 2009
Financial Freedom Loses Top Wholesale Reverse Mortgage Lender Title »

FHA Outlook Report Shows Reverse Mortgage Volume Up

April 28th, 2009  |  by admin Published in FHA, News, Reverse Mortgage  |  1 Comment

image At the National Reverse Mortgage Lenders Association meeting last week in Chicago, most people were pretty optimistic about their business for the rest of 2009.  HUD’s FHA outlook report mirrors the optimistic outlook by showing that during FY 2009, 85,548 HECM applications have been taken, up 16.1% compared to last year.

The report also shows total endorsements are up 4.8% for FY 2009 at 57,856.  Other notes from the report:

  • 67 HECM for purchases have closed in FY 2009
  • HECM to HECM refinances are up 2.7% compared to FY2008

Click on the image below to see more HECM details from HUDs Outlook Report.

image

Technorati Tags: Reverse Mortgage,News,HECM,FHA,HUD
    Related Posts
  • FHA Projections Show Drop in Reverse Mortgage Volume for 2010
  • Reverse Mortgage Applications Stop Falling, Up 14% in February
  • HUD: Over $29 Billion of Reverse Mortgage Volume in 2009


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  1. Home Affordable, Mortgage Fraud, Bank Balance Sheet says:

    April 29th, 2009 at 9:21 am (#)

    [...] is reporting that reverse mortgages applications surge–heading for mainstream type numbers, with a big year-over-year increase: HUD’s FHA outlook [...]

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