According to RMI, if the November volume is adjusted by halving it to account for two months of production the backlog from October and the actual production in November the total volume reflects an 11.7% decrease compared to September. But it's possible there is still some endorsement backlog to come in [December] that could mean that's a conservative interpretation, the report states.
Mutual of Omaha Mortgage led all lenders with 464 loans in September, capturing a 21% market share. Finance of America (FOA) followed with 411 loans (18.5%), while Longbridge Financial logged 365 loans (16.5%). The three companies accounted for about 56% of all HECM endorsements between October 2024 and September 2025, the data shows. Guild Mortgage saw the largest monthly gain, jumping from 38 endorsements in August to 69 in September, followed by South River Mortgage, which increased from 54 to 78.