Top 50 Reverse Mortgage Lenders - Thru April 2006
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[tag]Reverse mortgage originations[/tag] continued to grow at a blistering pace in April. According to HUD figures, there were 6,536 [tag]Home Equity Conversion Mortgage[/tag] (HECM) endorsements in April 2006, a 107.6% increase over the same month last year. Through the first four months of 2006, HECM endorsements are up 66.6% over the same period in 2005.
Only three of the top 50 lenders show declines in activity from the prior year. Most lenders are experiencing very rapid growth. The leading originator of HECM loans continues to be [tag]Wells Fargo Bank[/tag]. Through April, their activity is up more than 50% from the prior year.
| HECM Loan Originations | ||||
| Activity by Month | 2005 | 2006 | % Change | |
| APR | 3148 | 6536 | 107.6% | |
| MAR | 4512 | 6990 | 54.9% | |
| FEB | 3358 | 5841 | 73.9% | |
| JAN | 3938 | 5557 | 41.1% | |
| Total | 14956 | 24924 | 66.6% | |
| Rank | Top 50 Originators: | |||
| 1 | WELLS FARGO BANK NA | 4869 | 7402 | 52.0% |
| 2 | FINANCIAL FREEDOM SENIOR FUNDI | 1624 | 2734 | 68.3% |
| 3 | SEATTLE MORTGAGE COMPANY | 745 | 794 | 6.6% |
| 4 | LIBERTY REVERSE MORTGAGE INC | 171 | 689 | 302.9% |
| 5 | BNY MORTGAGE COMPANY LLC | 373 | 523 | 40.2% |
| 6 | PACIFIC REVERSE MORTGAGE INC | 388 | 330 | -14.9% |
| 7 | AMERICAN REVERSE MORTGAGE CORP | 147 | 269 | 83.0% |
| 8 | FIRST MARINER BANK | 56 | 257 | 358.9% |
| 9 | ACADEMY MORTGAGE LLC | 139 | 209 | 50.4% |
| 10 | AMSTON MORTGAGE | 164 | 203 | 23.8% |
| 11 | REVERSE MORTGAGES OF CA IN | 82 | 197 | 140.2% |
| 12 | CIRCLE MORTGAGE CORPORATION | 104 | 194 | 86.5% |
| 13 | LIBERTYSTREET FINANCIAL GROUP | 92 | 192 | 108.7% |
| 14 | GRIFFIN FINANCIAL MORTGAGE LLC | 178 | 187 | 5.1% |
| 15 | MERIT FINANCIAL INC | 115 | 179 | 55.7% |
| 16 | CALIFORNIA REVERSE MORTGAGE CO | 123 | 177 | 43.9% |
| 17 | HOME CENTER MORTGAGE | 59 | 164 | 178.0% |
| 18 | SENIORS FIRST MORTGAGE COMPANY | 118 | 155 | 31.4% |
| 19 | URBAN FINANCIAL GROUP | 64 | 155 | 142.2% |
| 20 | VERTICAL LEND INC | 30 | 146 | 386.7% |
| 21 | AAA REVERSE MORTGAGE OF TEXAS | 0 | 142 | n/a |
| 22 | SENIOR FUNDING ASSOCIATES | 94 | 135 | 43.6% |
| 23 | M AND T MORTGAGE CORPORATION | 118 | 134 | 13.6% |
| 24 | SEMINOLE FUNDING INC | 11 | 133 | 1109.1% |
| 25 | U.S. FINANCIAL MORTGAGE CORPOR | 336 | 126 | -62.5% |
| 26 | FIFTH THIRD BANK | 1 | 124 | 12300.0% |
| 27 | SENIOR FREEDOM CORP | 0 | 123 | n/a |
| 28 | NEW HORIZONS REVERSE MORTGAGE | 0 | 122 | n/a |
| 29 | WEBSTER BANK | 74 | 114 | 54.1% |
| 30 | INDYMAC BANK FSB | 0 | 113 | n/a |
| 31 | AMERICAN MORTGAGE PROFESSIONAL | 78 | 113 | 44.9% |
| 32 | CARTERET MORTGAGE CORPORATION | 76 | 105 | 38.2% |
| 33 | WWMF INC | 85 | 103 | 21.2% |
| 34 | SAFEWAY MORTGAGE INC | 60 | 99 | 65.0% |
| 35 | REVERSE MORTGAGE LENDING INC | 6 | 98 | 1533.3% |
| 36 | SENIORS EQUITY INCOME INC | 85 | 97 | 14.1% |
| 37 | SUN AMERICAN MORTGAGE CO | 68 | 94 | 38.2% |
| 38 | GSF MORTGAGE CORPORATION | 63 | 91 | 44.4% |
| 39 | MOUNTAIN PACIFIC MORTGAGE CO | 59 | 90 | 52.5% |
| 40 | LOAN LINK FINANCIAL SERVICES | 4 | 88 | 2100.0% |
| 41 | VALUE FINANCIAL MORTGAGE SERVI | 35 | 86 | 145.7% |
| 42 | GATEWAY FUNDING DIVERSIFIED MT | 18 | 86 | 377.8% |
| 43 | FAST TRACK FUNDING CORP | 43 | 85 | 97.7% |
| 44 | FIRST FINANCIAL MORTGAGE CORP | 78 | 83 | 6.4% |
| 45 | CONTINENTAL FUNDING CORP | 68 | 80 | 17.6% |
| 46 | UNIVERSAL LENDING CORPORATION | 88 | 77 | -12.5% |
| 47 | SUN VALLEY FINANCIAL OF UTAH I | 19 | 76 | 300.0% |
| 48 | FIRST ALLIANCE MORTGAGE CO | 24 | 75 | 212.5% |
| 49 | HOMESTAR MORTGAGE INC | 38 | 73 | 92.1% |
| 50 | CLARION MORTGAGE CAPITAL INC | 76 | 72 | -5.3% |
| All Others | 3610 | 6731 | 86.5% | |
| Total | 14956 | 24924 | 66.6% | |
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