The Department of Housing and Urban Development recently published projections for 2012 Home Equity Conversion Mortgage volume following the close of its fiscal year on September 30.
According to the projections, HECMs will see an increase to near 88,000 in 2012 from a total of 73,129 in FY 2011. Of the 2011 total, HECM Savers represented 3,828, or 5.2% of the loans.
Written by Elizabeth Ecker
