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IndyMac Reports Financial Freedom Production Down

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According to a recent post from The IMB Report, IndyMac reports that

reverse mortgage production from Financial Freedom was $360 million(January 2008), down 13% compared with last month and down 21% compared with last year.

My question is are these production numbers related to the recent layoffs from IndyMac or is this a sign that reverse mortgage production is slowing nationwide?  I’ve had a handful of RMD readers e-mail me saying that things have been a little slow in the past month but everyone seems pretty optimistic that things will bounce back.

Thoughts?

Update on January Loan Production Results and Credit Quality in Our Mortgage Loan Servicing Portfolio (The IMB Report)

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