While government-insured reverse mortgage originations were down for both retail and wholesale lenders during May, the biggest player — MetLife Bank, N.A. — pushed production higher. But with a more than 20 percent market share, MetLife’s upcoming exit from the business is going to leave a gaping hole. Retail-originated home-equity conversion mortgages endorsed during May by the Federal Housing Administration fell 1 percent from April. Retail HECM production was down 17 percent from a year earlier.
View full post on Mortgage Stories