Atlantic Avenue Mortgage leads August HECM endorsements with 1,002 loans

According to HousingWire, Atlantic Avenue Mortgage led Home Equity Conversion Mortgage (HECM) endorsements in August with a rolling total of 1,002 loans, slightly down from 1,009 in July. loanDepot followed with 476 endorsements after adding 43 loans in August, while Caliver Beach Mortgage held third place with 352 endorsements, a slight decrease from the previous month.

The top 10 HECM brokers on a 12-month rolling basis also included West Capital Lending, C2 Financial Corp., Barrett Financial Group, NEXA Lending, Carrington Mortgage Services, Senior Lending Corp., and Integrity 1st Mortgage. West Capital Lending notably moved up to fourth place by adding 15 loans in August, surpassing C2 Financial.

HECMWorld.com noted it is awaiting October data from the Department of Housing and Urban Development to compile direct lender rankings. September data showed a 6.7% decline in HECM endorsements from August, with 1,790 loans marking the lowest monthly total since April 2020.

New View Advisors reported that proprietary reverse mortgage products accounted for over 60% of reverse mortgage volume in September, driving overall growth despite the decline in HECM production. They forecast that proprietary loans may help the reverse mortgage industry exceed $8 billion in total originations in 2026, even as rising interest rates pose challenges in the fourth quarter.