December sees decline in reverse mortgage volume and securities issuance.

January 10, 2024
1 min read

Reverse mortgage volume and securities issuance both trended lower in December, according to data from Reverse Market Insight (RMI) and New View Advisors. Home Equity Conversion Mortgage (HECM) endorsement volume fell 3% in December and HECM-backed Securities (HMBS) issuance totaled $457mn, a decrease from the previous month. The drop in volume and issuance reflects an already challenging year for the reverse mortgage industry, but there are some signs of encouragement. If interest rates remain low, origination volume is expected to increase and the higher HECM limit for 2024 should also help improve volume. RMI noted that industry consolidation, such as the recent acquisition of American Advisors Group by Finance of America Reverse, may impact industry performance metrics in 2024.

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