Texas Reverse Mortgage Information

Texas Reverse Mortgage Information Overview

1. Census Data Relevant to the Texas Reverse Mortgage Market. It is helpful to understand the demographic make-up of Texas's reverse mortgage eligible population. The following information comes from the US Census Bureau's 2005 American Community Survey.

State	Median Age	State Rank	% Pop Over 65	State Rank	% Pop Over 85	State Rank	% of Households w/Retirement Income	State Rank	% Owner Occupied	State Rank
TX	33.2	52	9.6	50	0.9	49	13.8	49	64.7	43

The Census Bureau projects the senior citizen population in Texas will change as follows in the years ahead:

State	2010 Projected Pop. Over 65	2010 Projected % Pop. Over 65	State Rank	2030 Projected Pop. Over 65	2030 Projected % Pop. Over 65	State Rank
TX	2,587,383	10.5	48	5,186,185	15.6	7

2. Texas's Home Value Growth. Home price increases are an important factor in the reverse mortgage decision. The information below comes from the quarterly Housing Price Index (HPI) published by the Office of Federal Housing Enterprise Oversight (OFHEO). These figures indicate the average percentage gain in value for homes in Texas for the most recent 1-year and 5-year periods and, also, how the HPI rankings for Texas compare to other states. Clearly, senior homeowners in areas with strong home price appreciation and substantial accumulated home equity are more apt to consider a reverse mortgage as a supplemental source of retirement income. Figures are updated quarterly (most recent update made 2/28/08 reporting 4th Quarter 2007 results).

State	1 Year % Home Value Increase	State Rank	5 Year % Home Value Increase	State Rank
TX	0.72	8	25.17	42

3. Section HECM Loan Limits for Texas. The federally-insured Home Equity Conversion Mortgage (HECM) program has limits on the size of loan that can be insured. These are known as "203b limits" and are set by HUD for each county in each state. Click on the link below for a list of current 203b Limits for each Texas county.

Texas Limits for HECM Loans by County

County	HECM Limit	Last Revised
JEFF DAVIS	200,160	20080305
CARSON	200,160	20080305
BURLESON	200,160	20060101
THROCKMORTON	200,160	20080305
LOVING	200,160	20080305
CHEROKEE	200,160	20080305
WINKLER	200,160	20080305
GARZA	200,160	20080305
TRAVIS	218,595	20080218
SMITH	200,160	20060101
EDWARDS	200,160	20080305
RUSK	200,160	20080305
BOWIE	200,160	20080305
REEVES	200,160	20080305
YOUNG	200,160	20080305
FOARD	200,160	20080305
SHERMAN	200,160	20080305
CORYELL	200,160	20080305
OLDHAM	200,160	20080305
BANDERA	200,160	20060101
BAILEY	200,160	20080305
ERATH	200,160	20080305
BAYLOR	200,160	20080305
WHARTON	200,160	20080305
ELLIS	200,160	20060101
HUNT	200,160	20060101
WILLACY	200,160	20080305
SAN PATRICIO	200,160	20060101
RAINS	200,160	20080305
JACKSON	200,160	20080305
DIMMIT	200,160	20080305
OCHILTREE	200,160	20080305
LYNN	200,160	20080305
CALHOUN	200,160	20080305
FISHER	200,160	20080305
MENARD	200,160	20080305
SAN AUGUSTINE	200,160	20080305
MOTLEY	200,160	20080305
COOKE	200,160	20080305
HOOD	200,160	20060101
PARMER	200,160	20080305
HOUSTON	200,160	20080305
POTTER	200,160	20080305
ROBERTS	200,160	20080305
HILL	200,160	20080305
FANNIN	200,160	20060206
COCHRAN	200,160	20080305
BEXAR	200,160	20060101
STERLING	200,160	20080305
NACOGDOCHES	200,160	20080305
BELL	200,160	20080305
CULBERSON	200,160	20080305
KENT	200,160	20080305
HANSFORD	200,160	20080305
DENTON	200,160	20060101
RANDALL	200,160	20080305
LAVACA	200,160	20080305
KERR	200,160	20080305
MCCULLOCH	200,160	20080305
HALL	200,160	20080305
ECTOR	200,160	20060101
BEE	200,160	20080305
SCURRY	200,160	20080305
SOMERVELL	200,160	20060101
TARRANT	200,160	20060101
SHELBY	200,160	20080305
RUNNELS	200,160	20080305
KIMBLE	200,160	20080305
HAMILTON	200,160	20080305
KARNES	200,160	20080305
WALLER	200,160	20060101
HARDEMAN	200,160	20080305
CALLAHAN	200,160	20080305
CONCHO	200,160	20080305
ORANGE	200,160	20080305
MCMULLEN	200,160	20080305
UPTON	200,160	20080305
MCLENNAN	200,160	20080305
MADISON	200,160	20080305
COTTLE	200,160	20080305
MONTGOMERY	200,160	20060101
CASTRO	200,160	20080305
HENDERSON	200,160	20060101
LEE	200,160	20080305
GRIMES	200,160	20080305
VAN ZANDT	200,160	20080305
NEWTON	200,160	20080305
KING	200,160	20080305
MILAM	200,160	20080305
COLORADO	200,160	20080305
NUECES	200,160	20060101
TITUS	200,160	20080305
GRAY	200,160	20080305
MASON	200,160	20080305
DALLAM	200,160	20080305
MARION	200,160	20080305
SAN JACINTO	200,160	20060101
FRANKLIN	200,160	20080305
HUDSPETH	200,160	20080305
GUADALUPE	200,160	20060101
FAYETTE	200,160	20080305
COMAL	200,160	20060101
DAWSON	200,160	20080305
CROSBY	200,160	20080305
MORRIS	200,160	20080305
CHAMBERS	200,160	20060101
HARDIN	200,160	20080305
LAMB	200,160	20080305
PANOLA	200,160	20080305
COLEMAN	200,160	20080305
CAMERON	200,160	20080305
KNOX	200,160	20080305
POLK	200,160	20080305
TOM GREEN	200,160	20060101
LA SALLE	200,160	20080305
HOCKLEY	200,160	20080305
ARCHER	200,160	20080305
COLLINGSWORTH	200,160	20080305
TERRELL	200,160	20080305
BLANCO	200,160	20080305
WOOD	200,160	20080305
JEFFERSON	200,160	20080305
PALO PINTO	200,160	20080305
HALE	200,160	20080305
DALLAS	200,160	20060101
GONZALES	200,160	20080305
IRION	200,160	20060101
BRAZORIA	200,160	20060101
VICTORIA	200,160	20080305
ZAPATA	200,160	20080305
MONTAGUE	200,160	20080305
KINNEY	200,160	20080305
FLOYD	200,160	20080305
STARR	200,160	20080305
AUSTIN	200,160	20060101
ZAVALA	200,160	20080305
CALDWELL	218,595	20080218
HARRISON	200,160	20080305
LAMPASAS	200,160	20080305
ANDREWS	200,160	20080305
ATASCOSA	200,160	20060101
WASHINGTON	200,160	20080305
WHEELER	200,160	20080305
HASKELL	200,160	20080305
GILLESPIE	200,160	20080305
TAYLOR	200,160	20080305
CHILDRESS	200,160	20080305
SCHLEICHER	200,160	20080305
TRINITY	200,160	20080305
SUTTON	200,160	20080305
ROCKWALL	200,160	20060101
COLLIN	200,160	20060101
REAL	200,160	20080305
TYLER	200,160	20080305
FALLS	200,160	20080305
DICKENS	200,160	20080305
MILLS	200,160	20080305
BRAZOS	200,160	20060101
YOAKUM	200,160	20080305
WISE	200,160	20060101
EL PASO	200,160	20080305
CASS	200,160	20080305
CROCKETT	200,160	20080305
REAGAN	200,160	20080305
WALKER	200,160	20080305
BROWN	200,160	20080305
ARMSTRONG	200,160	20080305
HAYS	218,595	20080218
FORT BEND	200,160	20060101
SAN SABA	200,160	20080305
ANGELINA	200,160	20080305
LLANO	200,160	20080305
CLAY	200,160	20080305
BASTROP	218,595	20080218
PARKER	200,160	20060101
WARD	200,160	20080305
HEMPHILL	200,160	20080305
STEPHENS	200,160	20080305
DE WITT	200,160	20080305
GRAYSON	200,160	20080305
SWISHER	200,160	20080305
COKE	200,160	20080305
WEBB	200,160	20080305
EASTLAND	200,160	20080305
LIVE OAK	200,160	20080305
GOLIAD	200,160	20080305
PECOS	200,160	20080305
KENEDY	200,160	20080305
REFUGIO	200,160	20080305
JONES	200,160	20080305
JOHNSON	200,160	20060101
HUTCHINSON	200,160	20080305
LUBBOCK	200,160	20080305
MITCHELL	200,160	20080305
LIMESTONE	200,160	20080305
KLEBERG	200,160	20080305
WILSON	200,160	20060101
JASPER	200,160	20080305
GLASSCOCK	200,160	20080305
CRANE	200,160	20080305
HOWARD	200,160	20080305
HARRIS	200,160	20060101
UVALDE	200,160	20080305
JIM WELLS	200,160	20080305
SABINE	200,160	20080305
BREWSTER	200,160	20080305
DONLEY	200,160	20080305
MARTIN	200,160	20080305
LEON	200,160	20080305
STONEWALL	200,160	20080305
MIDLAND	200,160	20060101
UPSHUR	200,160	20080305
WILLIAMSON	218,595	20080218
BURNET	200,160	20080305
NAVARRO	200,160	20080305
KAUFMAN	200,160	20060101
WICHITA	200,160	20080305
MEDINA	200,160	20060101
BROOKS	200,160	20080305
MATAGORDA	200,160	20080305
JACK	200,160	20080305
PRESIDIO	200,160	20080305
DUVAL	200,160	20080305
HOPKINS	200,160	20080305
ANDERSON	200,160	20080305
LIBERTY	200,160	20060101
VAL VERDE	200,160	20080305
GALVESTON	200,160	20060101
GREGG	200,160	20080305
LAMAR	200,160	20080305
KENDALL	200,160	20060101
HARTLEY	200,160	20080305
COMANCHE	200,160	20080305
DELTA	200,160	20060101
ARANSAS	200,160	20060101
MOORE	200,160	20080305
NOLAN	200,160	20080305
BOSQUE	200,160	20080305
DEAF SMITH	200,160	20080305
SHACKELFORD	200,160	20080305
ROBERTSON	200,160	20060101
FRIO	200,160	20080305
TERRY	200,160	20080305
CAMP	200,160	20080305
LIPSCOMB	200,160	20080305
WILBARGER	200,160	20080305
GAINES	200,160	20080305
FREESTONE	200,160	20080305
BORDEN	200,160	20080305
BRISCOE	200,160	20080305
RED RIVER	200,160	20080305
HIDALGO	200,160	20080305
MAVERICK	200,160	20080305
JIM HOGG	200,160	20080305

4. Reverse Mortgage Loan Activity in Texas. Since September 2001, a total of 20,396 HECM reverse mortgages have been endorsed by HUD Offices located in Texas. Texas reverse mortgage endorsements represent 5.6% of the total 361,591 reverse mortgages originated throughout the United States during this timespan.

Over the past few years, the volume of reverse mortgage originations has grown in Texas as well as the rest of the country. Following are HECM reverse mortgage statisitics for the period from September 2001 up to the current month (Jul-2008). The first chart shows the distribution of HECM loan originations by Texas HUD Office region and the second chart shows year-to-year HECM loan growth. Further information on HECM loan activity can be found using the HECM Data Tool.

Federal Office Location	HECM Loans Sep-2001 to Jul-2008
DALLAS	4,903
FT WORTH	4,491
HOUSTON	5,709
LUBBOCK	1,845
SAN ANTONIO	3,448

Calendar Year	HECM Loans Sep-2001 to Jul-2008
2001	179
2002	735
2003	1,153
2004	2,632
2005	2,841
2006	4,669
2007	5,740
2008	2,447

5. Texas Reverse Mortgage Lenders. So, who are Texas's top reverse mortgage lenders? The following table shows Texas's top 25 originators of HUD HECM loans thus far for calendar year 2008:

Top Texas HECM Lenders	HECM Loans 2008
WELLS FARGO BANK NA	377
CITIZENS MORTGAGE CORPORATION	219
COUNTRYWIDE BANK FSB	177
1ST AAA REVERSE MORTGAGE INC	166
FINANCIAL FREEDOM SENIOR FUNDI	145
JUDITH O SMITH MORTGAGE GROUP	123
GRIFFIN FINANCIAL MORTGAGE LLC	96
MONTGOMERY MORTGAGE INC	78
HIGHLAND CAPITAL LENDING INC	53
E-LOANSTOGOCOM	51
FIRST MARINER BANK	49
EQUIPOINT FINANCIAL NETWORK IN	47
NETWORK FUNDING LP	46
WORLD ALLIANCE FINANCIAL CORP	37
BANK OF AMERICA NA CHARLOTTE	35
PACIFIC REVERSE MORTGAGE INC	34
TERRAVISTA MORTGAGE LP	33
CARTERET MORTGAGE CORPORATION	32
DIVERSIFIED HOME LENDING LLC	31
GENERATION MORTGAGE COMPANY	28
ALETHES LLC	26
COLONIAL SAVINGS FA	23
GREENLIGHT FINANCIAL SERVICES	23
RELIANCE MORTGAGE CO	22
LIVE WELL FINANCIAL INC	21

The table below provides a longer term view of Texas's top 25 lenders looking at the period from September 2001 up to the current month (Jul-2008). For a complete listing of Texas reverse mortgage lenders, use this Texas reverse mortgage lender directory.

Top Texas HECM Lenders	HECM Loans Sep-2001 to Jul-2008
WELLS FARGO BANK NA	4,733
FINANCIAL FREEDOM SENIOR FUNDI	2,423
GRIFFIN FINANCIAL MORTGAGE LLC	1,648
WELLS FARGO HOME MORTGAGE INC	1,208
1ST AAA REVERSE MORTGAGE INC	989
MONTGOMERY MORTGAGE INC	636
JUDITH O SMITH MORTGAGE GROUP	577
AAA REVERSE MORTGAGE OF TEXAS	570
RELIANCE MORTGAGE CO	532
E-LOANSTOGOCOM	487
SEATTLE MORTGAGE COMPANY	366
ALETHES LLC	365
NETWORK FUNDING LP	325
REVERSE MORTGAGE OF TEXAS INC	314
CITIZENS MORTGAGE CORPORATION	312
COUNTRYWIDE BANK FSB	246
PACIFIC REVERSE MORTGAGE INC	228
CARTERET MORTGAGE CORPORATION	222
FIRST MARINER BANK	217
MAVERICK RESIDENTIAL MORTGAGE	203
DIVERSIFIED FINANCIAL SOLUTION	180
TERRAVISTA MORTGAGE LP	148
ALLIED HOME MORTGAGE CAPITAL C	145
JAMES B NUTTER AND COMPANY	132
COLONIAL SAVINGS FA	116

ATTENTION REVERSE MORTGAGE LENDERS - if you are listed above as one of Texas's top reverse mortgage lenders, you should consider turning your listing into a clickable hyperlink that will take visitors directly to your company's website. Your "live" link will appear for every state that you rank in the top 25 lenders. Reverse-Mortgage-Information.org is one of the leading sites on the web for seniors seeking independent information about reverse mortgages. For more information, contact us .

Texas Reverse Mortgage Information and Facts

Texas Reverse Mortgage Information Overview