The reverse mortgage industry's total annual Home Equity Conversion Mortgage (HECM) volume saw a dip, indicating that interest rates significantly impacted overall performance metrics this year.
Mutual of Omaha Mortgage overtook Finance of America to become the leading retail reverse mortgage lender, illustrating a major shift with 203 endorsements separating them.
Finance of America Mutual experienced a 25% drop in total endorsement volume compared to the previous year, highlighting the challenges faced in a competitive market.
The company has also promoted its HomeSafe Second product heavily after its reintroduction, indicating a strategic move in response to market dynamics.
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