Top Reverse Mortgage Lenders
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Who are the top reverse mortgage lenders? Here’s data summarized from the monthly HUD HECM activity reports for the first two months of the year showing the Top 25 producers. These lenders account for about two-thirds of total HECM loan activity. Remaining loan activity is spread among several hundred smaller lenders:
| HUDEndorsed HECM Loans - Thru February 2005/2006 | ||||
| Lender | 2005 | 2006 | %CHG | |
| 1 | WELLS FARGO BANK NA | 2,378 | 3,430 | 44.2% |
| 2 | FINANCIAL FREEDOM SENIOR FUNDI | 876 | 1,336 | 52.5% |
| 3 | LIBERTY REVERSE MORTGAGE INC | 43 | 312 | 625.6% |
| 4 | SEATTLE MORTGAGE COMPANY | 383 | 301 | -21.4% |
| 5 | BNY MORTGAGE COMPANY LLC | 195 | 205 | 5.1% |
| 6 | PACIFIC REVERSE MORTGAGE INC | 213 | 136 | -36.2% |
| 7 | AMSTON MORTGAGE | 96 | 106 | 10.4% |
| 8 | AMERICAN REVERSE MORTGAGE CORP | 53 | 101 | 90.6% |
| 9 | REVERSE MORTGAGES OF CA IN | 36 | 100 | 177.8% |
| 10 | GRIFFIN FINANCIAL MORTGAGE LLC | 79 | 98 | 24.1% |
| 11 | CIRCLE MORTGAGE CORPORATION | 23 | 98 | 326.1% |
| 12 | URBAN FINANCIAL GROUP | 25 | 91 | 264.0% |
| 13 | CALIFORNIA REVERSE MORTGAGE CO | 64 | 83 | 29.7% |
| 14 | AAA REVERSE MORTGAGE OF TEXAS | - | 79 | 0.0% |
| 15 | SENIORS FIRST MORTGAGE COMPANY | 80 | 76 | -5.0% |
| 16 | MERIT FINANCIAL INC | 62 | 76 | 22.6% |
| 17 | SENIOR FUNDING ASSOCIATES | 31 | 70 | 125.8% |
| 18 | VERTICAL LEND INC | 19 | 70 | 268.4% |
| 19 | LIBERTYSTREET FINANCIAL GROUP | 8 | 70 | 775.0% |
| 20 | ACADEMY MORTGAGE LLC | 67 | 69 | 3.0% |
| 21 | INDYMAC BANK FSB | - | 69 | 0.0% |
| 22 | U.S. FINANCIAL MORTGAGE CORPOR | 193 | 68 | -64.8% |
| 23 | FIFTH THIRD BANK | - | 65 | 0.0% |
| 24 | GSF MORTGAGE CORPORATION | 28 | 57 | 103.6% |
| 25 | SAFEWAY MORTGAGE INC | 41 | 54 | 31.7% |
| HECM Endorsements by Top 25 Lenders | 4,993 | 7,220 | 44.6% | |
| Total HECM Endorsements | 7,296 | 11,398 | 56.2% | |
| Top 25 as Percent of Total | 68.4% | 63.3% | ||
A Few More Related Articles of Interest:
May 8th, 2006 at 10:21 pm
My name is Kevin,
I am the Vice Presdient of Mortgage Warehouse. Mortgage Warehouse is the division of VERTICAL LEND INC #18 on your survey that originates reverse mortgages. I am curious as to when you will be updating these status figures?
May 9th, 2006 at 8:57 pm
Hi Kevin -
The updated list (thru March) is posted here.
Within the next week or two we hope to have a database of loan activity that visitors can query themselves.