May Record Month for Reverse Mortgages

Record Month in May
The U.S. Department of Housing and Urban Development endorsed 8,414 reverse mortgages in May and 48,088 thru the first three quarters of fiscal year 2006, both records. FHA endorsed 43,131 loans for all of FY2005. Year-to-date totals represent a 77 percent increase over the 27,186 loans endorsed during the same period last year. read more...