There has been a slight increase of reverse mortgage securities production in August 2018, according to a recent report. This gives the secondary market a boost just as reverse mortgage originations ticked up in August, according to Reverse Mortgage Daily.
"Production of Home Equity Conversion Mortgage-backed securities (HMBS) rose from $321 million in July to $340 million in August, according to the latest data set from analytics firm Baseline Reverse," according to RMD.
The publication also revealed that four out of the six lenders in Baseline Reverse's top five performers saw production growth as well.
Baseline Reverse founder Dave Ribler believes these numbers are serious signs of widespread recovery, according tot he report.
Of course, it is difficult to just the future based on slight increases towards the end of the summer. Whether or not the reverse mortgage scene is bouncing back will depend on future numbers or at the very least sustainability of the August 2018 numbers.
To learn more about the increase of reverse mortgage securities production, click on the image above.