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Loan Modification

: Mortgage Lender Implode-o-Meter

Reverse Mortgage Applications Fall 38%, New FHA HECM Volume Projections

By Implode-Explode Heavy Industries

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"The number of reverse mortgage applications fell 38.8% in October, coming in at 8,249 units according to data released the the Department of Housing and Urban Development (HUD). The drop was expected after the number of applications spiked prior to HUD lowering the principal limits for the HECM program. While the drop is significant, it?s 40% better than the 5,892 applications from October 2009."

Full post as published by Mortgage Lender Implode-o-Meter on November 19, 2010 (boomark / email).

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