Reverse mortgage endorsement volume for April came in at 5,511 units, down 5.3% from March according to data from Reverse Market Insight. Overall year to date volume is down just under 38% from 2009 at 25,986. Active number of lenders continued to slide 7% from March.
Below is a list of the top reverse mortgage lenders through April 2010. Be sure to take a look at the commentary and report which goes into more detail below.
- Monthly endorsement volume continues to decrease, with units coming in at 5,511 for the month, vs 5,822 in March.
- Year to Date volume is down just under 38% from 2009, at 25,986 units.
- Declines are hitting all regions of the country, with all HUD regions down within a range of 23% – 44%.
- Drilling deeper, only two of the HUD Field Offices having growth over 2009 (Houston and New Orleans).
- There are 1,658 active lenders thus far in 2010, a 25% decline from the same period in ’09.
“Market statistics and report sample provided by Reverse Market Insight, the leading source of market intelligence in the reverse mortgage industry. For more information about RMI and to purchase the full MIC report with additional key performance indicators and market statistics, please visit our website at www.rminsight.net“