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Cautious Optimism for Reverse Mortgage Growth
The FHA’s fiscal year ended last month with another record year for home-equity conversion mortgages, the dominant reverse mortgage product. Some 112,100 HECMs were originated in fiscal 2008, up from 107,558 the previous year and more than double the production seen in 2005. “Reverse mortgages are really one of the only positive stories in financial services this year because they provide...
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