Originations of Reverse Mortgages Fall
NationalMortgageNews tells MHProNews.com that originations of government-backed Home Equity Conversion Mortgages (HECM) have fallen by 950 to 1150 loans a month. October and November both saw 4,650 reverse mortgages a month, a drop from 5,600 and 5,800 a month in August and September, respectively. Wells Fargo, Bank of America, and …