While reverse mortgage endorsements were down year-over-year at just shy of 70,000 loans in 2011, several regions across the country saw major increases, essentially bucking the downward trend.
The final loan tally posted 68,566 loans, down 5.7% from last year, according to the most recent report from Reverse Market Insight. But Utah, Texas, North Carolina, Philadelphia and Baltimore were ripe for growth this past year, RMI writes.
Source: Reverse Market Insight
St. George, Utah, continues to top the list for growth relative to its population, RMI notes, with Philadelphia, Denver, Raleigh and Nashville also on the list for top MCA growth.
View the RMI report.
Written by Elizabeth Ecker