The most popular Reverse Mortgage, the Home Equity Conversion Mortgage (HECM) had it’s highest month. Figures recently released by HUD show that 10,913 HECMs originated during February 2008 - making this the highest monthly production on record. The previous record month was March 2007 when 10,888 HECMs were recorded.

This is great news as we continue to see a need and positive outcome with Reverse Mortgages.

Next Generation Financial Services, a division of 1st Mariner Bank, is currently number 7 on the list of the top lenders originating FHA-insured Home Equity Conversion Mortgages (HECM) so far this year.

Call 1-888-973-8377 to speak with a Reverse Mortgage Loan Consultant.

This entry was posted on Sunday, March 2nd, 2008 at 9:01 am and is filed under Reverse Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.