Mutual of Omaha remains No. 1 as HECM endorsements fall 4.7% in May

Mutual of Omaha Mortgage remained the nation’s largest reverse mortgage lender in May, even as overall Home Equity Conversion Mortgage (The three largest lenders collectively controlled more than 60% of the reverse mortgage market through the first five months of the year.

Industrywide, the top 100 retail lenders endorsed 1,967 HECM loans in May, down 4.7% from April and 10.8% year over year. Total endorsements across all lenders reached 10,288 through May, a 13.3% decline from the same period in 2025.

Several lenders posted notable monthly gains. Guild Mortgage increased endorsements by 54.8% from April, while Rate rose 50% and All Western Mortgage doubled its monthly volume. loanDepot posted a 150% month-over-month increase, although from a smaller base.

Among the top 10 lenders, GoodLife Home Loans ranked fourth with 87 endorsements in May, followed by South River Mortgage with 74 and Guild Mortgage with 65.

The total of 1,967 endorsements in May marked the lowest monthly volume reported so far this year and was below the 2,296 endorsements recorded during the same month in 2025, continuing a downward trend in originations of federally insured reverse mortgages.

HMBS issuances

The slowdown in lending activity was also reflected in the secondary market. HECM Mortgage-Backed Securities (