Key facts
- Atlantic Avenue Mortgage led HECM broker endorsements in July with 85 loans.
- loanDepot was the second-largest HECM broker in July with 42 loans.
- Caliver Beach Mortgage ranked third in July HECM endorsements with 23 loans.
- HECM endorsements are on pace for their weakest year since 2003.
- Rising mortgage rates reduce upfront proceeds for HECM borrowers.
Atlantic Avenue Mortgage, loanDepot, and Caliver Beach Mortgage maintained their leading positions in the Home Equity Conversion Mortgage (HECM) broker and third-party originator channel in July, according to data compiled by Reverse Market Insight and published by HECMWorld.com. Atlantic Avenue Mortgage endorsed 85 loans in July, bringing its 12-month rolling total to 1,009. loanDepot added 42 loans in July for a 12-month total of 469, while Caliver Beach Mortgage endorsed 23 loans, reaching 356 over the same period.
Other top performers in the prior 12 months included C2 Financial with 18 July endorsements, bringing its total to 191, and West Capital Lending, which added 22 loans for a 187 total. Barrett Financial Group, Carrington Mortgage Services, NEXA Lending, Senior Lending Corp., and Integrity 1st Mortgage rounded out the top 10.
The data emerges as the reverse mortgage market faces limited activity. U.S. Department of Housing and Urban Development (HUD) data indicates HECM endorsements are on track for their weakest year since 2003, with 20,474 endorsements through the first 10 months of fiscal year 2026. The market's peak was in 2009 with over 114,000 endorsements.
Ginnie Mae President Joe Gormley expressed confidence in current mortgage insurance premium (MIP) structures for FHA loans, but the National Reverse Mortgage Lenders Association (NRMLA) continues to push for lower upfront MIP. Rising mortgage rates are impacting reverse mortgage borrowers by reducing upfront proceeds, though they can benefit existing adjustable-rate HECM lines of credit as unused portions grow. C2 Financial executive Shain Urwin noted that affluent borrowers are increasingly utilizing these growing lines of credit as part of retirement planning, while needs-based borrowers are less affected by interest rate psychology due to immediate financial requirements. However, higher rates have significantly decreased typical loan-to-value ratios from around 50% during the pandemic to approximately 30% currently.