The Top HECM Lenders of 2024

Finding a good lender for a reverse mortgage isn’t as easy as shopping for a regular home loan. A reverse mortgage is bit more complicated and requires more expertise. We’ve put together this guide to help you learn about what to look for in a lender. We’ll also cover the top companies in operation today, along with a little history.

Click here to speak to a lender and get more information, absolutely free.

Here’s what you’ll find below:

How to Find a Lender

Your first step should be to complete a reverse mortgage counseling session with a counselor approved by the U.S. Department of Housing and Urban Development, or HUD. This is required of all home-owners who apply for a Home Equity Conversion Mortgage (HECM), partly because the loan is backed by the federal government.

The counseling costs about $125 and is free to low-income applicants. Once done, you’ll receive a completion certificate and can apply for a HECM.

To find a lender, you’ll have to look beyond traditional mortgage lenders since they usually don’t offer a HECM, as we’ll cover below. Instead, you need to look for companies that specialize in this specific loan.

When comparing reverse mortgage lenders, ask lenders to fill out the Total Annual Loan Costs, or TALC, form. This is like a Good Faith Estimate and Truth-in-Lending disclosure forms you’d see when applying for a home loan. TALC is the main disclosure form for a reverse mortgage.

TALC will allow you to compare all of the costs of a reverse mortgage.

Look for a lender that belongs to the National Reverse Mortgage Lenders Association, or NRMLA, or is a member of the National Association of Mortgage Brokers, or NAMB. Both must adhere to high ethical standards.

5 Qualities of a Good Lender

Once you’ve narrowed down your list of lenders, talk to a few to see if they’re a good fit for you. Ideally, they should have these qualities:

  1. Responsive
  2. Walk you through the process
  3. Questions welcomed
  4. Working for you, not themselves
  5. No pressure

Responsive

If they return your call within one hour, that’s a good sign.

Walk You Through the Process

They go out of their way to walk you through the reverse mortgage process. Everything should be explained in plain English.

Questions Welcomed

The type of loan you get can depend on many factors, including how long you expect to live there, why you need the money, and your estate plan. They should ask about your situation and welcome questions about the loan.

Working for You, Not Themselves

Instead of adhering to their schedule, a good lender will work at your convenience. Documents will be provided to you early to review, and they’ll contact you in the way that works best for you, such as email, phone or text.

No Pressure

A good lender will show you the best options and give you time to make a choice. They won’t rush you and will give you all the time you need to make the decision that makes the most sense for you.

Click here to speak to a lender and get more information, absolutely free.

The Ten Best Reverse Mortgage Companies Today by Total Volume

In the past, this list was headlined by large brand-name banks. Now, the top originators are mainly companies focused exclusively on HECM loans. Here are the biggest lenders for September 2024, the most recent month with published data:

Lender Loans Max Claim ($)
MUTUAL OF OMAHA MORTGAGE INC. 447 206,684,333
FINANCE OF AMERICA REVERSE LLC 333 144,401,847
LONGBRIDGE FINANCIAL LLC 116 56,475,185
SOUTH RIVER MORTGAGE LLC 96 33,895,825
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 87 46,551,492
PHH MORTGAGE CORPORATION 56 24,673,900
GUILD MORTGAGE COMPANY LLC 54 29,316,334
ATLANTIC AVENUE MORTGAGE LLC 48 21,653,825
HIGH TECH LENDING INC 36 25,349,775
CROSSCOUNTRY MORTGAGE LLC 25 15,717,300

Click here to pre-apply safely and securely for a reverse mortgage from AAG now.

Historically, the Home Equity Conversion Mortgage (HECM) program in the United States was dominated by large banks. In 2011, the largest providers were Wells Fargo, Bank of America, and MetLife Bank. Wells Fargo and Bank of America accounted for 43% of all originations, and MetLife originated about the same number of loans as 4th and 5th place combined.

However, today’s market looks nothing like the past. In 2011, Bank of America and Wells Fargo both left the business, citing concerns over falling home prices and the inability to make lending decisions based on the borrower’s financial standing. In 2012, MetLife exited the business as part of its decision to move away from retail banking. The market is now dominated by originators who do not serve the functions of traditional banks. The traditional big banks have shown little to no interest in re-entering the market.

As of the end of September 2024, here are the top lenders of all time by total originations. We have also included total maximum claim amount for another point of reference:

Lender Loans Max Claim ($)
WELLS FARGO 162,889 37,646,130,187
AMERICAN ADVISORS GROUP 116,696 34,310,447,184
FINANCIAL FREEDOM SENIOR FUNDING CORP 48,944 9,640,122,474
ONE REVERSE MORTGAGE LLC 44,378 9,472,925,042
FINANCE OF AMERICA REVERSE LLC 31,922 10,196,790,046
BANK OF AMERICA 25,186 6,851,532,427
METLIFE BANK NATIONAL ASSOCIATION 20,509 5,302,703,815
MUTUAL OF OMAHA MORTGAGE INC. 19,251 8,865,028,641
REVERSE MORTGAGE FUNDING LLC 16,530 6,833,356,768
LIBERTY HOME EQUITY SOLUTIONS INC 15,066 3,956,576,436
SEATTLE MORTGAGE COMPANY 14,481 3,176,596,595
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12,544 5,115,653,314
GENWORTH FINANCIAL HM EQUITY ACCESS INC 12,241 3,269,414,054
REVERSE MORTGAGE SOLUTIONS INC 11,665 3,195,169,063
GENERATION MORTGAGE COMPANY 10,197 2,433,023,685
EVERBANK REVERSE MORTGAGE LLC 9,615 2,345,229,091
WORLD ALLIANCE FINANCIAL CORP. 9,063 2,056,768,491
LONGBRIDGE FINANCIAL LLC 8,376 3,753,566,167
UNITY MORTGAGE CORP 8,269 883,572,366
M AND T BANK 8,208 1,473,532,806

As you can see by comparing these two tables, the change is very pronounced, and many analysts estimate that around 50% of potential volume is lost after the exit of the big brands. Do consumers trust these smaller lenders, many of whom specialize in originating only HECM loans?

Find a Lender Near Me

We’ve also put together guides for specific states designed to give seniors relevant, localized information. You can compare recent interest rates averages and learn about the top lenders in your area. You can check out these guides by following the relevant link below:


Let AAG show you the perfect reverse mortgage loan for your situation, absolutely free.

Top Lenders by Year

1997

Year Lender Loans
1997 UNITY MORTGAGE CORP 1,025
1997 WELLS FARGO 561
1997 AMERIFIRST MORTGAGE CORP 397
1997 SENIOR INCOME REVERSE MORTGAGE 316
1997 SEATTLE MORTGAGE COMPANY 278
1997 WENDOVER FINANCIAL SERVICES CORP 272
1997 SENIOR LOAN CENTER INC 224
1997 EVERBANK REVERSE MORTGAGE LLC 201
1997 SUN AMERICAN MORTGAGE CO 145
1997 PHOENIX MORTGAGE COMPANY 130

1998

Year Lender Loans
1998 UNITY MORTGAGE CORP 1,149
1998 WELLS FARGO 1,006
1998 SENIOR INCOME REVERSE MORTGAGE 561
1998 AMERIFIRST MORTGAGE CORP 421
1998 WENDOVER FINANCIAL SERVICES CORP 353
1998 HOME MORTGAGEE CORP 348
1998 EVERBANK REVERSE MORTGAGE LLC 335
1998 SENIOR LOAN CENTER INC 249
1998 SEATTLE MORTGAGE COMPANY 248
1998 GMAC MORTGAGE LLC 185

1999

Year Lender Loans
1999 UNITY MORTGAGE CORP 1,275
1999 WELLS FARGO 976
1999 FINANCIAL FREEDOM SENIOR FUNDING CORP 848
1999 GMAC MORTGAGE LLC 531
1999 SENIOR INCOME REVERSE MORTGAGE 347
1999 EVERBANK REVERSE MORTGAGE LLC 324
1999 SEATTLE MORTGAGE COMPANY 238
1999 SENIORS FIRST MORTGAGE COMPANY LLC 177
1999 AMERICA'S SENIOR FIN'L SRVCS INC 150
1999 AMERIFIRST MORTGAGE CORP 122

2000

Year Lender Loans
2000 UNITY MORTGAGE CORP 1,276
2000 WELLS FARGO 1,101
2000 FINANCIAL FREEDOM SENIOR FUNDING CORP 753
2000 EVERBANK REVERSE MORTGAGE LLC 306
2000 SEATTLE MORTGAGE COMPANY 206
2000 GMAC MORTGAGE LLC 178
2000 SENIORS FIRST MORTGAGE COMPANY LLC 170
2000 SENIOR INCOME REVERSE MORTGAGE 130
2000 WEBSTER BANK 130
2000 AMERICA'S SENIOR FIN'L SRVCS INC 121

2001

Year Lender Loans
2001 FINANCIAL FREEDOM SENIOR FUNDING CORP 2,285
2001 WELLS FARGO 1,573
2001 EVERBANK REVERSE MORTGAGE LLC 546
2001 SEATTLE MORTGAGE COMPANY 391
2001 UNITY MORTGAGE CORP 353
2001 SENIORS FIRST MORTGAGE COMPANY LLC 143
2001 EVERHOME MORTGAGE COMPANY 139
2001 ALLIED HOME MORTGAGE CAPITAL CORPORATION 112
2001 RBC CENTURA BANK 96
2001 CAPITAL ONE NA 95

2002

Year Lender Loans
2002 WELLS FARGO 3,846
2002 FINANCIAL FREEDOM SENIOR FUNDING CORP 3,534
2002 SEATTLE MORTGAGE COMPANY 1,063
2002 EVERBANK REVERSE MORTGAGE LLC 593
2002 SENIORS FIRST MORTGAGE COMPANY LLC 226
2002 ALLIED HOME MORTGAGE CAPITAL CORPORATION 225
2002 AMSTON MORTGAGE 181
2002 EVERHOME MORTGAGE COMPANY 146
2002 SENIORS EQUITY INCOME INC 132
2002 WEBSTER BANK 126

2003

Year Lender Loans
2003 WELLS FARGO 7,099
2003 FINANCIAL FREEDOM SENIOR FUNDING CORP 3,993
2003 SEATTLE MORTGAGE COMPANY 1,602
2003 EVERBANK REVERSE MORTGAGE LLC 944
2003 AMERICAN REVERSE MORTGAGE CORP 551
2003 AMSTON MORTGAGE 334
2003 ALLIED HOME MORTGAGE CAPITAL CORPORATION 289
2003 RBC CENTURA BANK 281
2003 SENIORS FIRST MORTGAGE COMPANY LLC 213
2003 GENERATION MORTGAGE COMPANY 183

2004

Year Lender Loans
2004 WELLS FARGO 14,208
2004 FINANCIAL FREEDOM SENIOR FUNDING CORP 5,602
2004 SEATTLE MORTGAGE COMPANY 2,672
2004 EVERBANK REVERSE MORTGAGE LLC 1,168
2004 AMERICAN REVERSE MORTGAGE CORP 877
2004 U.S. FINANCIAL MORTGAGE CORPORATION 721
2004 AMSTON MORTGAGE 434
2004 SENIORS FIRST MORTGAGE COMPANY LLC 414
2004 GENERATION MORTGAGE COMPANY 409
2004 COACHELLA VALLEY MORTGAGE CTR 365

2005

Year Lender Loans
2005 WELLS FARGO 15,352
2005 FINANCIAL FREEDOM SENIOR FUNDING CORP 5,120
2005 SEATTLE MORTGAGE COMPANY 2,054
2005 EVERBANK REVERSE MORTGAGE LLC 1,280
2005 GENWORTH FINANCIAL HM EQUITY ACCESS INC 1,221
2005 U.S. FINANCIAL MORTGAGE CORPORATION 993
2005 PACIFIC REVERSE MORTGAGE INC 864
2005 LIBERTYSTREET FINANCIAL GROUP 684
2005 AMERICAN REVERSE MORTGAGE CORP 592
2005 GRIFFIN FINANCIAL MORTGAGE LLC 490

2006

Year Lender Loans
2006 WELLS FARGO 25,315
2006 FINANCIAL FREEDOM SENIOR FUNDING CORP 8,221
2006 SEATTLE MORTGAGE COMPANY 3,170
2006 GENWORTH FINANCIAL HM EQUITY ACCESS INC 2,206
2006 EVERBANK REVERSE MORTGAGE LLC 1,734
2006 AMERICAN REVERSE MORTGAGE CORP 1,521
2006 ACADEMY MORTGAGE LLC 963
2006 HOME CENTER MORTGAGE 924
2006 LIBERTYSTREET FINANCIAL GROUP 908
2006 PACIFIC REVERSE MORTGAGE INC 845

2007

Year Lender Loans
2007 WELLS FARGO 21,829
2007 FINANCIAL FREEDOM SENIOR FUNDING CORP 10,906
2007 GENWORTH FINANCIAL HM EQUITY ACCESS INC 2,553
2007 WORLD ALLIANCE FINANCIAL CORP. 2,378
2007 SEATTLE MORTGAGE COMPANY 2,130
2007 AMERICAN REVERSE MORTGAGE CORP 1,566
2007 OMNI HOME FINANCING INC 1,410
2007 EVERBANK REVERSE MORTGAGE LLC 1,304
2007 ACADEMY MORTGAGE LLC 1,194
2007 COUNTRYWIDE BANK FSB 1,114

2008

Year Lender Loans
2008 WELLS FARGO 18,762
2008 FINANCIAL FREEDOM SENIOR FUNDING CORP 5,814
2008 BANK OF AMERICA 4,768
2008 COUNTRYWIDE BANK FSB 3,907
2008 WORLD ALLIANCE FINANCIAL CORP. 3,814
2008 FINANCE OF AMERICA REVERSE LLC 1,480
2008 GENWORTH FINANCIAL HM EQUITY ACCESS INC 1,358
2008 OMNI HOME FINANCING INC 1,255
2008 1ST AAA REVERSE MORTGAGE INC 1,027
2008 GENERATION MORTGAGE COMPANY 989

2009

Year Lender Loans
2009 WELLS FARGO 19,320
2009 BANK OF AMERICA 9,035
2009 METLIFE BANK NATIONAL ASSOCIATION 3,544
2009 ONE REVERSE MORTGAGE LLC 3,025
2009 WORLD ALLIANCE FINANCIAL CORP. 2,008
2009 FINANCIAL FREEDOM ACQUISITION LLC 1,925
2009 FINANCIAL FREEDOM SENIOR FUNDING CORP 1,755
2009 GENERATION MORTGAGE COMPANY 1,668
2009 FINANCE OF AMERICA REVERSE LLC 1,164
2009 1ST AAA REVERSE MORTGAGE INC 1,152

2010

Year Lender Loans
2010 WELLS FARGO 16,233
2010 BANK OF AMERICA 7,410
2010 METLIFE BANK NATIONAL ASSOCIATION 3,879
2010 ONE REVERSE MORTGAGE LLC 3,241
2010 FINANCE OF AMERICA REVERSE LLC 1,616
2010 GENERATION MORTGAGE COMPANY 1,414
2010 GENWORTH FINANCIAL HM EQUITY ACCESS INC 1,247
2010 1ST AA REVERSE MORTGAGE INC 1,172
2010 FINANCIAL FREEDOM ACQUISITION LLC 1,105
2010 SECURITY ONE LENDING 763

2011

Year Lender Loans
2011 WELLS FARGO 14,682
2011 METLIFE BANK NATIONAL ASSOCIATION 7,526
2011 ONE REVERSE MORTGAGE LLC 4,619
2011 BANK OF AMERICA 3,485
2011 AMERICAN ADVISORS GROUP 1,815
2011 GENERATION MORTGAGE COMPANY 1,479
2011 FINANCE OF AMERICA REVERSE LLC 1,177
2011 SECURITY ONE LENDING 983
2011 GENWORTH FINANCIAL HM EQUITY ACCESS INC 969
2011 NEW DAY FINANCIAL LLC 763

2012

Year Lender Loans
2012 METLIFE BANK NATIONAL ASSOCIATION 5,082
2012 ONE REVERSE MORTGAGE LLC 4,803
2012 AMERICAN ADVISORS GROUP 3,645
2012 SECURITY ONE LENDING 2,427
2012 GENWORTH FINANCIAL HM EQUITY ACCESS INC 1,762
2012 THE FIRST NATIONAL BANK LAYTON 1,469
2012 FINANCE OF AMERICA REVERSE LLC 1,321
2012 GENERATION MORTGAGE COMPANY 1,192
2012 REVERSE MORTGAGE USA INC 1,177
2012 NEW DAY FINANCIAL LLC 779

2013

Year Lender Loans
2013 AMERICAN ADVISORS GROUP 6,659
2013 ONE REVERSE MORTGAGE LLC 5,405
2013 LIBERTY HOME EQUITY SOLUTIONS INC 3,878
2013 REVERSE MORTGAGE SOLUTIONS INC 2,591
2013 PROFICIO MORTGAGE VENTURES LLC 2,546
2013 SECURITY ONE LENDING 1,807
2013 REVERSE MORTGAGE USA INC 1,565
2013 FINANCE OF AMERICA REVERSE LLC 1,385
2013 ASSOCIATED MORTGAGE BANKERS INC. 861
2013 GENERATION MORTGAGE COMPANY 801

2014

Year Lender Loans
2014 AMERICAN ADVISORS GROUP 9,864
2014 ONE REVERSE MORTGAGE LLC 4,951
2014 REVERSE MORTGAGE SOLUTIONS INC 3,574
2014 LIBERTY HOME EQUITY SOLUTIONS INC 2,689
2014 PROFICIO MORTGAGE VENTURES LLC 1,735
2014 FINANCE OF AMERICA REVERSE LLC 1,285
2014 GENERATION MORTGAGE COMPANY 659
2014 NET EQUITY FINANCIAL INC 609
2014 HIGH TECH LENDING INC 444
2014 CHERRY CREEK MORTGAGE CO INC 442

2015

Year Lender Loans
2015 AMERICAN ADVISORS GROUP 10,907
2015 ONE REVERSE MORTGAGE LLC 5,041
2015 REVERSE MORTGAGE SOLUTIONS INC 3,344
2015 LIBERTY HOME EQUITY SOLUTIONS INC 2,073
2015 FINANCE OF AMERICA REVERSE LLC 1,551
2015 REVERSE MORTGAGE FUNDING LLC 1,266
2015 PROFICIO MORTGAGE VENTURES LLC 1,138
2015 LIVE WELL FINANCIAL INC 951
2015 HIGH TECH LENDING INC 657
2015 OPEN MORTGAGE LLC 637

2016

Year Lender Loans
2016 AMERICAN ADVISORS GROUP 8,611
2016 ONE REVERSE MORTGAGE LLC 3,476
2016 REVERSE MORTGAGE FUNDING LLC 2,164
2016 LIBERTY HOME EQUITY SOLUTIONS INC 1,754
2016 FINANCE OF AMERICA REVERSE LLC 1,680
2016 REVERSE MORTGAGE SOLUTIONS INC 1,349
2016 SYNERGY ONE LENDING INC. 1,290
2016 NATIONWIDE EQUITIES CORPORATION 1,139
2016 LIVE WELL FINANCIAL INC 1,031
2016 HIGH TECH LENDING INC 1,023

2017

Year Lender Loans
2017 AMERICAN ADVISORS GROUP 10,648
2017 ONE REVERSE MORTGAGE LLC 3,079
2017 REVERSE MORTGAGE FUNDING LLC 2,625
2017 FINANCE OF AMERICA REVERSE LLC 1,997
2017 SYNERGY ONE LENDING INC. 1,804
2017 LIBERTY HOME EQUITY SOLUTIONS INC 1,721
2017 LIVE WELL FINANCIAL INC 1,267
2017 NATIONWIDE EQUITIES CORPORATION 1,145
2017 REVERSE MORTGAGES.COM INC. 1,024
2017 HIGH TECH LENDING INC 997

2018

Year Lender Loans
2018 AMERICAN ADVISORS GROUP 9,687
2018 ONE REVERSE MORTGAGE LLC 2,744
2018 FINANCE OF AMERICA REVERSE LLC 1,482
2018 REVERSE MORTGAGE FUNDING LLC 1,417
2018 SYNERGY ONE LENDING INC. 1,358
2018 LIVE WELL FINANCIAL INC 1,171
2018 LIBERTY HOME EQUITY SOLUTIONS INC 1,119
2018 FAIRWAY INDEPENDENT MORTGAGE CORPORATION 945
2018 HIGH TECH LENDING INC 618
2018 MID-CONTINENT FUNDING INC. 584

2019

Year Lender Loans
2019 AMERICAN ADVISORS GROUP 9,423
2019 ONE REVERSE MORTGAGE LLC 2,357
2019 SYNERGY ONE LENDING INC. 1,502
2019 REVERSE MORTGAGE FUNDING LLC 1,244
2019 FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,029
2019 FINANCE OF AMERICA REVERSE LLC 878
2019 LIBERTY HOME EQUITY SOLUTIONS INC 570
2019 HIGH TECH LENDING INC 421
2019 LONGBRIDGE FINANCIAL LLC 389
2019 OPEN MORTGAGE LLC 372

2020

Year Lender Loans
2020 AMERICAN ADVISORS GROUP 12,525
2020 REVERSE MORTGAGE FUNDING LLC 2,251
2020 FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,902
2020 MUTUAL OF OMAHA MORTGAGE INC. 1,618
2020 FINANCE OF AMERICA REVERSE LLC 1,426
2020 PHH MORTGAGE CORPORATION 835
2020 LONGBRIDGE FINANCIAL LLC 826
2020 OPEN MORTGAGE LLC 680
2020 ENNKAR INC. 640
2020 HIGH TECH LENDING INC 554

2021

Year Lender Loans
2021 AMERICAN ADVISORS GROUP 14,953
2021 REVERSE MORTGAGE FUNDING LLC 3,064
2021 MUTUAL OF OMAHA MORTGAGE INC. 2,982
2021 PHH MORTGAGE CORPORATION 2,269
2021 FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,686
2021 FINANCE OF AMERICA REVERSE LLC 1,677
2021 SOUTH RIVER MORTGAGE LLC 1,594
2021 LONGBRIDGE FINANCIAL LLC 1,124
2021 ENNKAR INC. 965
2021 HIGH TECH LENDING INC 751

2022

Year Lender Loans
2022 AMERICAN ADVISORS GROUP 13,261
2022 MUTUAL OF OMAHA MORTGAGE INC. 4,945
2022 FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2,696
2022 PHH MORTGAGE CORPORATION 2,293
2022 REVERSE MORTGAGE FUNDING LLC 2,225
2022 LONGBRIDGE FINANCIAL LLC 2,008
2022 FINANCE OF AMERICA REVERSE LLC 1,921
2022 SOUTH RIVER MORTGAGE LLC 1,548
2022 PREMIUM SECURITY INC. D/B/A HOMECISION 972
2022 ENNKAR INC. 954

2023

Year Lender Loans
2023 MUTUAL OF OMAHA MORTGAGE INC. 5,412
2023 FINANCE OF AMERICA REVERSE LLC 4,160
2023 AMERICAN ADVISORS GROUP 2,564
2023 FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,418
2023 LONGBRIDGE FINANCIAL LLC 1,387
2023 SOUTH RIVER MORTGAGE LLC 1,119
2023 PHH MORTGAGE CORPORATION 742
2023 BLOOM RETIREMENT HOLDINGS INC. 418
2023 GUILD MORTGAGE COMPANY LLC 325
2023 AMERICAN PACIFIC MORTGAGE 236

Let AAG show you the perfect reverse mortgage loan for your situation, absolutely free.

Reviews & Profiles

It’s easy to find a review of Bank of America or Wells Fargo – even your average citizen on the street is likely to have an opinion of some kind. It’s even relatively easy to find information about smaller traditional originators, many of whom are reviewed online daily. However, you will find that it’s far more difficult to locate objective information about many of the companies that we listed above.

Here are a few short profiles of some of the top lenders:

American Advisors Group (AAG)

AAG is the largest reverse mortgage lender in the United States and has been since 2012 when the big banks exited the industry. You can read our review of AAG or visit them directly.

Reverse Mortgage Funding (RMF)

You can read our review here.

Security 1 Lending & Reverse Mortgage Solutions

Though S1L no longer exists and RMS exists only to service and subservice reverse loans, our historical review is located here.

Associated Mortgage Bankers (AMB)

Better known as AMB and headquartered in Garden City, NY. Founded over 22 years ago, the company specializes in the HECM product, and it has grown as large banks such as MetLife have exited the industry. AMB is licensed in the following states: Arizona, Utah, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Maryland, New Jersey, North Dakota, Oregon, Oklahoma, Pennsylvania, Tennessee, Vermont, Virginia, Washington, Wyoming, Texas, and the District of Columbia.

1st Reverse Mortgage USA

1st Reverse USA, a division of Cherry Creek Mortgage Company, is consistently one of the top HECM originators in the United States. Headquartered in Lakewood, Colorado, the company operates branches in 11 states and serves another 10 states. This includes Arizona, California, Colorado, Illinois, and Texas. Cherry Creek, the parent company of First Reverse, was founded in 1987. In addition to its core lending business, they also maintain the First Reverse Lender Network in which the company partners with community banks, credit unions, and FHA-approved mortgage banks.

Generation Mortgage

In late 2014, Generation shut down its origination business. Prior to this decision, Generation was one of the few companies to offer a proprietary reverse loan as an alternative to the ubiquitous HECM product. It was an option for seniors with home values above the FHA’s limit of $625,500.

About the Editor

Aaron Crowe is a freelance journalist who specializes in writing about personal finance. He has written for AOL, U.S. News & World Report, WiseBread, Bankrate, AARP, Allstate Insurance, Wells Fargo, newspapers, and various websites about credit, retirement, mortgages and related topics. You can find his work at AaronCrowe.net or on Twitter @AaronCrowe.

More Resources

Disclosure Requirements for Reverse Mortgages, Consumer Compliance Outlook
National Association of Mortgage Brokers
2 Big Banks Exit Reverse Mortgage Business, New York Times
MetLife Exits Reverse Mortgage Business, MetLife.com