New York Reverse Mortgage Market Report
Statewide HECM Portfolio • Regulatory Framework: Strict Disclosure State
New York Executive Market BLUF
New York features high MCA density across Long Island and the New York Metro area. State laws enacted in 2021 provide extensive default prevention protections and mandatory pre-counseling disclosures for senior borrowers.
Strategic Key Takeaways
- •Statewide senior home equity: $1390.0 Billion.
- •Average Maximum Claim Amount (MCA): $638,000.
- •Annual endorsement momentum: +6.1% YoY.
- •Regulatory category: Strict Disclosure State.
3,920,000 seniors age 62+
Rank #4 Nationwide
Prior Year: 2,280
Median Home: $460,000
New York HECM Endorsement History
Annual volume trajectory vs average claim amount
Top HECM Origination Counties in New York
580 HECM Endorsements
520 HECM Endorsements
340 HECM Endorsements
290 HECM Endorsements
220 HECM Endorsements
Calculate Borrowing Power in New York
Institutional FHA HECM Principal Limit Calculator
HUD Mortgagee Letter 2017-17 Calibrated • 2026 FHA MCA Cap: $1,149,825
Under HUD ML 2014-07, spouses of any age can be named as an Eligible Non-Borrowing Spouse, securing statutory rights to remain in the home indefinitely after the borrowing spouse passes away.
Available immediately as an unused, guaranteed growing Line of Credit, or distributed as monthly tenure payments for life.
10-Year Line of Credit Compounding Trajectory
| Year | Available Line | Loan Balance | Est. Retained Equity |
|---|---|---|---|
| Year 0 | $148,300 | $139,000 | $511,000 |
| Year 2 | $168,996 | $158,398 | $537,898 |
| Year 4 | $192,581 | $180,504 | $565,386 |
| Year 6 | $219,457 | $205,694 | $593,322 |
| Year 8 | $250,083 | $234,400 | $621,526 |
| Year 10 | $284,984 | $267,112 | $649,777 |