The following is a list of each year and the corresponding  HECM reverse mortgages for that year. The HECM or home equity conversion mortgage makes up about 90% of all reverse mortgages issued.  HECM reverse mortgages are insured by the federal government through the Federal Housing Administration (FHA).

FY 2009 114,692
FY 2008 112,154
FY 2007 107,558
FY 2006 76,351

FY 2005 43,131
FY 2004 37,829
FY 2003 18,097
FY 2002 13,049
FY 2001 7,781
FY 2000 6,640
FY 1999 7,982
FY 1998 7,896
FY 1997 5,208
FY 1996 3,596
FY 1995 4,165
FY 1994 3,365
FY 1993 1,964
FY 1992 1,019
FY 1991 389
FY 1990 157 loans

Total number of HECM reverse mortgage loans is 581,884
Source: HUD
About HECM Reverse Mortgages:
The person’s age, appraised home value, and current interest rates all help determine the amount of money a borrower can receive with a reverse mortgage. Older individuals may receive more money. In addition, the higher the value of the home, the more money that can be received.

As in anything in real estate location, location, location is a large factor as well. The size of a HECM depends on the maximum loan limit, which varies by county and is adjusted annually. Currently (for 2007), the FHA loan limit varies from $200,160 (for rural areas) to $362,790 (for high-cost areas).
lending limit is $362,790 (current maximum limit), the loan amount will be based on $362,790.

The homeowner must pay, as part of the closing costs, a 2% mortgage insurance premium (MIP).The 2% is of the lesser of the home value or county lending limit). In addition, the annual premium is equal to 0.5 percent of the loan amount.

The insurance premium guarantees the government will secure the loan upon lender default and make sure the homeowner has continued access to his or her loan funds. The MIP also guarantees that the borrower will never owe more than the value of the home.