Below are the top HECM lenders of 2007… so far. Remember that this list doesn’t include any proprietary products.
|Lender||# of Endorsed Loans|
|1.||Wells Fargo Bank NA||7210|
|2.||Financial Freedom Senior Funding||4461|
|3.||Seattle Mortgage Company||1134|
|4.||Liberty Reverse Mortgage Inc||874|
|5.||American Reverse Mortgage Corp||686|
|6.||Vertical Lending Inc||608|
|7.||Omni Home Financing Inc||462|
|8.||Urban Financial Group||452|
|9.||Academy Mortgage LLC||427|
|10.||M and T Bank||421|
After slipping in April, HECM reverse mortgage loan endorsements (as reported by HUD) posted their second strongest month ever in May. A total of 10,409 HECM loans were endorsed in May. This was only the second time that monthly loan activity has surpassed the 10,000 mark. In March, 10,888 HECM loans were endorsed – the highest ever monthly total. For the most recent 12-month period (June 2006 – May 2007), the average monthly HECM volume was 8,117, the first time this measure has surpassed the 8,000 level.