Reverse Mortgage Volume Increases Fifth Consecutive Year - Article

WASHINGTON, D.C. - For a fifth consecutive year, lenders originated a record number of federally insured reverse mortgages, and the volume of borrower applications being processed is even higher, according to the National Reverse Mortgage Lenders Association.

During the most recent federal fiscal year, ending September 30, the Federal Housing Administration (an arm of the Department of Housing and Urban Development), insured 43,131 Home Equity Conversion Mortgages (HECMs) compared to 37,829 the prior year. HECMs account for 90 percent of all reverse mortgages made in the U.S.

Read the complete article - Reverse Mortgage Volume Increases Fifth Consecutive Year.

This article shows how the benefits and education of reverse mortgages are quickly becoming known across the US. If you have any reverse mortgage questions or would like to speak with a reverse mortgage counselor, please call 1-888-973-8377 or fill out our online reverse mortgage analysis.