In recent industry news, there has been a notable shift in the reverse mortgage market. The Home Equity Conversion Mortgage (HECM) volume experienced a decline in August, following a modest increase in July. Despite this decrease, Home Equity Mortgage-Backed Securities (HMBS) issuance saw a growth of $44 million during the same period, showcasing a more positive trend in the market.
Key points to note from this development include:
– HECM volume decreased in August after a slight increase in July
– HMBS issuance managed to grow by $44 million during the month
– The reverse mortgage market is showing some fluctuations, with potentially significant impacts on industry stakeholders and consumers.
This shift in reverse mortgage activity underscores the importance of closely monitoring market trends and understanding the implications for both lenders and borrowers in the mortgage industry. Stay tuned for further updates on this evolving market landscape.
You can read this full article at: https://www.housingwire.com/articles/the-yo-yo-ride-for-reverse-mortgage-volume-continued-in-august/(subscription required)
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