The Top Rated Reverse Mortgage Companies

For a senior homeowner interested in moving forward with a reverse mortgage, it is very important to choose a good lender. The lender you choose will dictate the kind of experience you have, because they serve as a partner when you navigate through the reverse mortgage process. So who are the top reverse mortgage lenders in the industry?

The Top Players

In February 2015, Reverse Focus released a list of the Top 100 Home Equity Conversion Mortgage (HECM) Lenders in the nation. The report was gathered by collecting lenders’ data of loans closed, year to date numbers, and market share numbers. Higher numbers of loans closed with a lender directly correlate with the number of senior homeowners who trust that lender to process their reverse mortgage. Results reveal the reverse mortgage industry’s top 3 reverse mortgage lenders:

1. American Advisors Group
2. One Reverse Mortgage
3. Urban Financial

American Advisors Group

At no. 1 is American Advisors Group (AAG), the reverse lender with the highest number of borrowers with closed loans. Founded in 2004, American Advisors Group is headquartered in Orange, CA and licensed in 48 states. As active members of the National Reverse Mortgage Lender’s Association (NRMLA) and fully accredited by the Better Business Bureau, American Advisors Group continues to rank as the top originator in the United States. American Advisors Group has won multiple awards including the Orange County Register’s Top Workplaces Award in 2013 and Reverse Mortgage Daily’s award for Best Retail Brand among reverse mortgage lenders in 2012.

One Reverse Mortgage

Coming in at no. 2 is One Reverse. Founded in 2001, One Reverse is headquartered in San Diego, CA and operates in 47 states.

Urban Financial

The no. 3 spot belongs to Urban Financial. Founded in 2003, Urban is headquartered in Tulsa, Oklahoma and licensed in 42 states.

Why Industry Leaders Name American Advisors Group the Top Lender

Reverse Focus further details that in the month of February 2015, American Advisors Group closed 1,132 loans in comparison with One Reverse’s 501 and Urban Financial’s 396. Data from reverse mortgage research company Reverse Market Insight supports this continuing trend, when it named American Advisors Group as the biggest reverse mortgage lender in 2014 by volume. American Advisors Group is trusted to close more loans by senior homeowners than both runner-up companies combined.

So why is American Advisors Group at the top? Over a decade of experience has given the company the time to perfect their customer-centric approach. In addition to the company being licensed in 48 states, each loan officer is licensed and must complete a comprehensive six-week training program to ensure utmost expertise in their state. Training is ongoing even after that, as loan officers are constantly evaluated on their customer-service.

When it comes to choosing your lender, do your research. Select a lender that is accomplished in a few basic qualifications of being trustworthy and reputable, such as being an active member of NRMLA and being rated A+ by the Better Business Bureau. Take advantage of their offers for Free Information Kits. Call around and speak with a reverse mortgage professional to ask your questions. In the end, choose the reverse mortgage company with a solid reputation and a reverse mortgage professional you feel comfortable with who patiently listens to your questions and answers them with obvious experience and expertise.