Reverse Mortgage Volume Reaches 14-year Low in November: Data

By Jessica Guerin

After months of uneven recovery following last October’s program changes, reverse mortgage volume has fallen to a low it hasn’t seen since 2004.

The latest data from analytics firm Reverse Market Insight reveals that HECM endorsements fell 17.4% in November to 2,553 loans – reaching its lowest point since new policy guidelines were implemented last fall.

The revised guidelines, known throughout the industry as the 10/2 changes, reduced the amount of proceeds and the number of people who could qualify for the loan.

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