*Home Equity Conversion Mortgages (HECMs) account for approximately 95% of all funded reverse mortgages in the U.S. *Loan limits for the two most prominent types of reverse mortgages – HECMs and Home Keeper Loans – rose sharply in 2004 to $290,319 and $333,700 respectively, to match the increases in Fannie Mae’s conforming loan limits. *Approximately 13.2 million households could qualify for an average $72,128 each in reverse mortgage loans, or a total of $953 billion. *The number of federally insured reverse mortgages increased 39% in fiscal year 2003 to 18,097. *Four companies – Financial Freedom Holding Inc., Wells Fargo & Co., Seattle Financial Group Inc., and BNY Mortgage – originate 92% of reverse mortgages through retail loan officers, brokers and correspondents. Source: Callahan & Associates

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