The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM), and is only available through an FHA-approved lender.
List of active approved reverse mortgage lenders
The following reverse mortgage programs and lenders are approved and currently ACTIVE in the Commonwealth as of February 8, 2023:
| Entity | Approved program(s) |
|---|---|
| Allied Mortgage Group, Inc. | HECM in conjunction with Finance of America Reverse |
| American Financial Network, Inc. | HECM |
| Bank of England | HECM in conjunction with Finance of America Reverse, LLC. |
| Bay Equity LLC | HECM in conjunction with Finance of America Reverse, LLC, Longbridge Financial, LLC, and Reverse Mortgage Funding LLC. |
| Broker Solutions, Inc. dba New American Funding | |
| CBC National Bank | HECM |
| Continental Home Loans, Inc. | HECM |
| Fairway Independent Mortgage Corporation | HECM in conjunction with Reverse Mortgage Funding LLC, Finance of America Reverse, LLC, and Longbridge Financial, LLC. |
| Finance of America Reverse, LLC d/b/a FAR formerly known as Urban Financial of America, LLC. |
HECM and HomeSafe Standard - Proprietary program |
| FirstBank | HECM |
| Firststar Bank | HECM |
| HomeBridge Financial Services, Inc. | HECM |
| Homeowners Options for Massachusetts Elders | |
| Homestead Funding Corp. | HECM |
| Land Home Financial Services, Inc. | HECM |
| LeaderOne Financial Corporation | HECM in conjunction with Finance of America Reverse, LLC |
| Lenox Financial Mortgage Corporation d/b/a Weslend Financial | HECM in conjunction with Finance of America Reverse, LLC f/k/a Urban Financial Group, Inc. |
| Longbridge Financial, LLC | HECM and Platinum- proprietary program |
| Movement Mortgage | HECM in conjunction with Finance of America Reverse |
| Mutual of Omaha Mortgage, Inc. f/k/a Synergy One Lending, Inc. dba Retirement Funding Solutions | HECM |
| Northern Mortgage Services, LLC | HECM in conjunction with Plaza Home Mortgage, Inc. |
| One Reverse Mortgage, LLC | HECM |
| People's Bank, a Kansas Corp. | HECM |
| PHH Mortgage Corporation d/b/a Liberty Reverse Mortgage | HECM |
| Plaza Home Mortgage, Inc. | HECM |
| radius Financial Group, Inc. | HECM |
| Reverse mortgages.com | HECM |
| Salem Five Mortgage Company, LLC, a wholly-owned subsidiary of the Salem Five Cents Savings Bank | HECM in conjunction with Finance of America Reverse, LLC f/k/a Urban Financial Group. Inc. |
| The Federal Savings Bank | HECM |
| Top Flite Financial | Approved to offer HECM in conjunction with Finance of America Reverse, LLC, and Reverse Mortgage Funding, LLC |
| Urban Financial Group, Inc. | HECM |
| US Mortgage Corporation dba US Mortgage Group | HECM in conjunction with Finance of America Reverse, LLC f/k/a Urban Financial Group, Inc. |
List of inactive previously approved reverse mortgage lenders
The following reverse mortgage programs and lenders were previously approved and are currently INACTIVE and are not authorized to act as a reverse mortgage lender in the Commonwealth:
| Entity | Date ceased originating reverse mortgage loans |
|---|---|
| Allied Home Mortgage Corporation | January 11, 2012 |
| Bank of America, N.A. | April 29, 2011 |
| Belmont Savings Bank | April 1, 2011 |
| Bridgewater Savings Bank | June 28, 2011 |
| Evolve Bank and Trust | January 1, 2014 |
| Eastern Bank | May 2012 |
| Financial Freedom Senior Funding Corporation | April 1, 2011 |
| First Mariner Bank dba Next Generation Financial Services | April 1, 2011 |
| Gateway Funding Diversified Mortgage Services | January 1, 2014 |
| Generation Mortgage Company | November 1, 2014 |
| GMAC Mortgage Corporation | May 16, 2013 |
| Guaranteed Home Mortgage Company, Inc. | December 31, 2013 |
| Hanscom Federal Credit Union | October 21, 2011 |
| Home Point Financial Corporation formally known as Maverick Funding Corp. | February 6, 2018 |
| James B. Nutter & Company | December 31, 2022 |
| Liberty Home Equity Solutions, Inc., formerly known as Genworth Financial Home Equity Access, Inc. | March 20, 2020 |
| Live Well Financial, Inc. | September 18, 2019 |
| Members Trust Company, FSB | September 11, 2013 |
| Merrimack Mortgage Company, Inc | April 1, 2011 |
| Metlife Home Loans, a Division of Metlife Bank, N.A. | May 2012 |
| Reverse Mortgage Funding, LLC | January 27, 2023 |
| Ross Mortgage Company | April 9, 2014 |
| Southbridge Savings Bank | September 11, 2013 |
| Susquehanna Bank formerly known as Graystone Mortgage, a division of Graystone Tower Bank | April 2012 |
| The Cape Cod Five Cents Savings Bank | April 1, 2011 |
| The Savings Bank | April 1, 2011 |
| Union Trust Mortgage Corporation | April 1, 2011 |
| Village Capital & Investment, LLC dba Village Home Loan | January 1, 2012 |
| Wells Fargo Home Mortgage | June 16, 2011 |