Refinances made up nearly 50% of the reverse mortgages originated in the second quarter of 2021. Overall volume in the HECM market increased in the first six months compared to the same period a year earlier. (Includes two data charts.)

For refinances completed during the second quarter, 28% of borrowers remained with the servicer of their previous mortgage, the largest share since the pandemic started, according to Black Knight.

Loan officers continue to benefit from strong refis and purchases, but compensation is coming under pressure. Meanwhile, the need for processors is not abating, according to LBA Ware.

Freddie Mac’s first-quarter earnings report indicates the heady days of 2020 have continued into the new year.