Reverse mortgage in New York
HUD's own loan records identify who lends in New York, where the loans are and who counsels there.
- In New York, 667 HECMs closed over one year
- The Median home value counted by HUD was $735,000
- Longbridge Financial made the most HECMs in New York, with 368
For New York, HUD's HECM data records 667 closings from September 2025 through August 2026, 2.7% of all 24,529 nationwide. The state ranked 12th among the 50 states and DC.
The group included 11 home purchases with a HECM for Purchase, 43 refinancings of an older HECM, 1 fixed-rate HECM and 77 loans that hit the $1,249,125 value cap.
Comparing New York HECMs with national figures
The final two rows come from the calculator.
| New York | Against all HECMs | |
|---|---|---|
| HECMs closed | 667 | 2.7% of all 24,529 |
| Median home value counted | $735,000 | $295,000 more |
| Median principal limit | $335,980 | $141,808 more |
| Principal limit as a share of value | 44.7% | 1.3 points higher |
| Median expected rate | 6% | 0.125 points higher |
| HECM for Purchase | 1.6% | 3.9 points lower |
| Refinanced HECMs | 6.4% | 4.4 points lower |
| Lenders with a loan here | 8 | of 34 nationwide |
| Remaining after costs at age 70 with a median home and no mortgage | $259,510 | $107,970 more |
| Usable in the first year at age 70 | $146,026 | $62,422 more |
New York HECM lenders ranked by loan totals
In New York, 8 lenders sponsored HECMs. The three largest lenders were Longbridge Financial, Finance of America Reverse and Nationwide Equities. Together, they made 628 of the 667 loans (94%). Use the national ranking for comparison.
| Rank | Lender | HECMs | Share |
|---|---|---|---|
| 1 | Longbridge Financial | 368 | 55.2% |
| 2 | Finance of America Reverse | 246 | 36.9% |
| 3 | Nationwide Equities | 14 | 2.1% |
| 4 | Plaza Home Mortgage | 13 | 1.9% |
| 5 | PHH Mortgage | 11 | 1.6% |
| 6 | MCM Holdings | 7 | 1% |
| 7 |  | 7 | 1% |
| 8 | Sun West Mortgage | 1 | 0.1% |
New York HECMs originated by local lenders and brokers
Applications for New York HECM were taken by 92 companies. Leaving out the national lenders, the firms that originated the most were Opulence Funding (65), Contour Mortgage (48), East Coast Capital (39), Nationwide Mortgage Bankers (30), Go Rascal (22), Loandepot.com (14), Jet Direct Funding (14) and Coltrain Funding Group (14). These counts are of the company that originated each loan, while the ranking above counts the lender that sponsored it, so the two lists are not comparable.
Locations where New York HECMs were originated
The 667 loans put Suffolk County in front with 181, and Nassau had 124. Brooklyn had the most at 48, followed by Staten Island (27), Bronx (11), Rochester (11) and Yonkers (11). City names are the mailing city on each HUD record and can reach into nearby counties, so a city's count need not match the county table.
| County | HECMs | Share |
|---|---|---|
| Suffolk | 181 | 27.1% |
| Nassau | 124 | 18.6% |
| Queens | 75 | 11.2% |
| Kings | 48 | 7.2% |
| Westchester | 38 | 5.7% |
| Richmond | 27 | 4% |
New York HUD-approved reverse mortgage counselors
HUD lists 13 reverse mortgage counseling agencies with bases in New York across 10 cities. Phone numbers for these agencies appear in HUD's counselor search.
| City | Agency | How they counsel | Languages |
|---|---|---|---|
| Brooklyn, NY | Neighborhood Housing Services of Brooklyn CDC | phone, in person, video, online, group | English |
| Cadyville, NY | Friends of the North Country | phone | English |
| Carmel, NY | Putnam County Housing Corporation | phone | English, Polish, Spanish |
| Garden City, NY | Family and Children's Association | in person, online | English, Spanish |
| Hawthorne, NY | Cambridge Credit Counseling Corporation - New York Branch | English, Polish, Spanish | |
| Melville, NY | American Debt Resources | phone | English |
| Melville, NY | Community Development Long Island | phone, in person, online | English, Spanish |
| Newburgh, NY | Pathstone Corporation- Newburgh, Ny | phone | English |
| Rochester, NY | Pathstone Corporation- New York | phone, in person, video, online, group | English, Spanish |
| Rochester, NY | CCCS of Rochester-Home Office | phone, in person, video, group | English, Spanish |
| Rochester, NY | The Housing Council at Pathstone | phone, in person, video, group | English, Spanish |
| West Seneca, NY | Parachute Credit Counseling | phone, in person, video, online, group | English |
| White Plains, NY | Westchester Residential Opportunities, Incorporated | phone, in person, video, online, group | English, French, Italian, Spanish |
Relief for older homeowners through property tax breaks in New York
At age 65 or older, you may qualify for the senior citizens exemption if your local government in New York offers it. The exemption can reduce your home's taxable assessment by up to 50%. For the 50% exemption, local governments can set an income limit from $3,000 to $50,000. Senior citizens exemption.
Who oversees reverse mortgage lenders in New York
For lenders in New York, the Department of Financial Services takes applications from those that want authority to make reverse mortgage loans. See Information for Mortgage Industry | Department of Financial Services.
Source information comes from the HUD HECM portfolio snapshot and covers September 2025 to August 2026. Figures for each state.