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Reverse mortgage securities continue downward march

The reverse mortgage securities market continues to show the side effects of the HECM product’s rough year.

Issuance for HECM mortgage-backed securities, or HMBS, fell to just under $ 614 million in January, down from December’s $ 619 million, according to recent data from New View Advisors.

But even though HMBS totals for the last two months have been significantly better than November’s dismal $ 521 million, analysts say don’t be fooled. Both December and January were helped alon…

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