Reverse mortgage endorsements fell 6.9% in February from January, but maintained a higher-than-average level at 4,833 loans, according to the most recent data from the Department of Housing and Urban Development analyzed by Reverse Market Insight.
Several regions, however, and several lenders reported an uptick during the month including the Midwest, Pacific/Hawaii and Great Plains, all seeing 12-month highs, RMI reports.
Liberty Home Equity Solutions, formerly Genworth Financial Home Equity Access, achieved top retail lender status on a trailing 12-month basis with year-to-date volume up 40%. Security One and American Advisors group took the No. 2 and No. 3 spots for year to date gains, respectively, each seeing triple-digit growth.
Following a volume spike in January, several regions saw volume plummet, including the Rocky Mountain region, down 23% from January.
Written by Elizabeth Ecker