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Reverse Mortgages Securities Volume Takes a Few Steps Back

Reverse mortgage backed securities are on a bit of a decline though American Advisors Group seems to be setting personal records according to a recent report.

"HMBS issuers generated $657 million in new production last month, according to the most recent numbers from Baseline Reverse," according to Reverse Mortgage Daily.

"That’s a drop from the $747 million in December, the St. Johns, Fla.-based analysis firm noted."

Despite the slip, AAG is still on top of the leaderboard for chart-toppers with $172.4 million in new issuance, according to the report. Meanwhile, Finance of America Reverse sits at the second spot with $153.1 million.

"January’s $657 million in new issuance still represents an improvement over the total logged in January 2017, when issuers turned in $532 million," according to Reverse Mortgage Daily.

"Still, the first month of 2018 alas saw the first significant decline in original production from recent peaks in November and December, driven in part by surging endorsements caused by principal limit reductions last fall."

To learn more about the dip in reverse mortgage-backed securities, click on the image above.

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