Home equity conversion mortgages (HECM) are a federally insured reverse mortgages which allow homeowners in the United States to withdraw some of the equity in the home that they own. In the financial year ending in September 2022, approximately 64,500 HECMs were granted. American Advisor Group and Mutual of Omaha Mortgage were some of the leading reverse mortgage providers in 2022.
Number of home equity conversion mortgages (HECM) in the United States from 2005 to 2023
The data came from the U.S. Department of Housing and Urban Development, who provide data by federal fiscal year (each federal fiscal year begins October 1 and runs through September 30 of the following year.
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NRMLA. (July 12, 2023). Number of home equity conversion mortgages (HECM) in the United States from 2005 to 2023 [Graph]. In Statista. Retrieved September 19, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/629946/number-of-hecms-usa/
NRMLA. "Number of home equity conversion mortgages (HECM) in the United States from 2005 to 2023." Chart. July 12, 2023. Statista. Accessed September 19, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/629946/number-of-hecms-usa/
NRMLA. (2023). Number of home equity conversion mortgages (HECM) in the United States from 2005 to 2023. Statista. Statista Inc.. Accessed: September 19, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/629946/number-of-hecms-usa/
NRMLA. "Number of Home Equity Conversion Mortgages (Hecm) in The United States from 2005 to 2023." Statista, Statista Inc., 12 Jul 2023, https://www-statista-com.ezproxy.canberra.edu.au/statistics/629946/number-of-hecms-usa/
NRMLA, Number of home equity conversion mortgages (HECM) in the United States from 2005 to 2023 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/629946/number-of-hecms-usa/ (last visited September 19, 2024)
Number of home equity conversion mortgages (HECM) in the United States from 2005 to 2023 [Graph], NRMLA, July 12, 2023. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/629946/number-of-hecms-usa/