After a banner year, reverse mortgage production has fallen sharply this year, according to figures released last week by the Department of Housing and Urban Development.

In the government's fiscal year that ended Sept. 30, lenders wrote a record 114,641 HUD-insured reverse mortgages. For the first six months of the current fiscal year, originations totaled 41,375. At that pace, production for the year would be about three-quarters what it was the year before.

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