Direct retail endorsements for Home Equity Conversion Mortgages (HECMs) don’t capture the full picture of origination activity in the federally insured reverse mortgage space. Reverse Market Insight (RMI) and HECMWorld are looking to change that.
On Thursday, HECMWorld published an RMI dataset of HECM endorsements through brokers and third-party originators (TPOs). The initial report covers the top 100 brokers and TPOs in the nation for 2025 and will be updated each month.
Breaking down the top 10
Florida-based Atlantic Avenue Mortgage dominated the rankings with 75 endorsements in December and 899 for all of last year. The company specializes in reverse mortgages and posted $563.5 million in volume over the past 12 months across 42 licensed loan officers, according to Modex data.
The No. 2 spot on the list belongs to California-based loanDepot, which brokered 437 HECM loans in 2025, including 47 in December. The company has a much larger presence in the forward mortgage space but also directly endorsed 60 HECMs last year — an 88% jump from 2024, according to RMI.
Caliver Beach Mortgage, headquartered in Maryland, finished in third place by brokering 388 HECMs in 2025, including 45 in December. The company is also active in the forward channel across a number of conventional, government and investor loan programs. Its 60 licensed LOs did $552 million in business over the past 12 months, per Modex.
Fourth place went to San Diego-based C2 Financial Corp., with 204 HECM endorsements through its broker channel in 2025. C2 is one of the nation’s largest brokerages, with 1,115 licensed LOs, 111 branches and $4.85 billion in volume over the past year.
California-headquartered Carrington Mortgage Services and Florida-headquartered Senior Lending Corp. shared fifth place as each had 150 broker-endorsed HECMs in 2025.
The remainder of the top 10 for last year includes West Capital Lending, Integrity 1st Mortgage Inc., NEXA Lending and Barrett Capital Group.
The HECM market remained relatively flat in 2025 with about 26,800 direct lender endorsements, according to previously released RMI data.
The top 10 lenders accounted for nearly 80% of this activity, and the top three originators — Mutual of Omaha Mortgage, Finance of America and Longbridge Financial — combined for a market share of 56%.
Long-running struggles to increase HECM business have prompted more lenders to develop proprietary reverse mortgages. These loans, which typically have higher borrowing limits and lower upfront mortgage insurance premiums (MIPs), accounted for about 45% of reverse origination volume in December, according to RMI.
The industry is awaiting further information and direction from the Federal Housing Administration and the U.S. Department of Housing and Urban Development after the agencies began seeking public feedback last year on the future of the HECM and HECM Mortgage-Backed Securities (HMBS) programs.
Multiple industry stakeholders — including the National Reverse Mortgage Lenders Association, New View Advisors and individual originators — have offered their advice on potential improvements. These range from lower upfront MIP costs, the elimination of underutilized HECM product options and the removal of the borrower counseling requirement.