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:
- Finding the Right Lender
- Best Reverse Mortgage Companies of 2024
- Lenders Near You
- Top Lenders by Year
- Reviews and Profiles
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:
- Responsive
- Walk you through the process
- Questions welcomed
- Working for you, not themselves
- 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:
- Alabama
- Alaska
- Arizona
- Arkansas
- Colorado
- Connecticut
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Massachusetts
- Maine
- Michigan
- Minnesota
- Mississippi
- Missouri
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- North Carolina
- North Dakota
- Oklahoma
- Oregon
- Pennsylvania
- South Carolina
- Tennessee
- Utah
- Virginia
- Washington
- Wisconsin
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