Reverse Mortgage Volume Hits A Peak
The number of reverse mortgages done in the month of January 2018 was 6,313, which was an increase of 32.5 percent month over month from December 2017, according to the latest data from Reverse Mortgage Insight. This also marks the best month for the reverse mortgage industry since March 2011. The increase can be attributed to changes made by the Department of Housing and Urban Development (HUD) in October 2017, which caused a rush of applications by homeowners who wanted to secure larger principal limits and equity proceeds.
For more information on reverse mortgages and other related topics contact:
Rick R. Rodriguez
Certified Reverse Mortgage Professional (CRMP)
NMLS# 473353
Toll Free (877) 500-0454
Local (702) 460-6222
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