HECM Endorsements Are Moving On Up – NMP Skip to main content

HECM Endorsements Are Moving On Up

Navi Persaud
Nov 03, 2021
Photo of a pink 3D chart increased with a rocket ship representing the increase. Credit: iStockphoto.com/Eoneren.

Reverse Mortgage Insights' latest report showed a 16.3% (5,029 loans) jump in HECM endorsements in Oct. 2021.

While HECM endorsements are on the rise this month, RMI cautions folks to take these numbers with a grain of salt as lenders are likely focusing on funding, rather than endorsements. 

Regionally, the Midwest was the only region with a decline in volume month-over-month. Additionally, NY/NJ was the only region down in September and made up for it in October, rising 38.1% to 145 loans. The Southwest region saw HECM endorsements grow by 35.8% to 379 loans and the Southeast/Caribbean jumped 25.9% to 813 loans. 

American Advisors Group was the top lender with 1,566 loans in Oct., bringing its total volume for the year to 16,518 loans. AAG has a significant lead over its competition as Reverse Mortgage Funding saw 476 loans, putting the company at 5,176 total loans and second behind AAG. Rounding out the top three was Finance of America Reverse with 4,528 total loans, of which 401 loans came in Oct. 2021, according to the report.

Nov 03, 2021
More from
Finance Of America Reverse Updates Its Brand Assets

Finance of America Reverse announced the launch of its updated brand assets with what the company says, “reflects its modern identity and impactful relationships with customers.”

Nov 12, 2021
Cherry Creek Expands Its Reverse Mortgage Channel

Cherry Creek Mortgage announced the hire of a new leadership team to expand the company's reverse mortgage division.

Nov 02, 2021
Opportunities In Reverse 

For seniors who still have a mortgage, 40% are looking to use the equity they’ve built to eliminate their monthly payment. 

Oct 19, 2021
HECM Endorsements Plummet More Than 14 Percent

Home equity conversion mortgage endorsements plummeted 14.3% in August 2021 to 3,679 loans.

Sep 14, 2021
Reverse Mortgages Aren't Expanding Into Broader Mortgage Business

The reverse mortgage sector has remained strong accounting for more than 4,000 loans a month, according to Reverse Mortgage Daily, however, growing the business further has been on the back burner.

Jul 28, 2021
FHA Adds COVID-19 Recovery Options For Forward And Reverse Borrowers

The Federal Housing Administration announced additional COVID-19 recovery options to help both forward and reverse homeowners who are facing hardships as a result of the pandemic.

Jul 26, 2021