Wholesale reverse mortgage production made up 5,392 of the 9,828 units in July, bringing the YTD number to 35,204 according to data from Reverse Market Insight. Below is a list of the top 10 wholesale reverse mortgage lenders over the last 12 months.
Lender | Units | Growth | |
1 | Financial Freedom | 12860 | -40.9% |
2 | JB Nutter | 12804 | -0.8% |
3 | Bank of America | 8079 | -32.7% |
4 | MetLife | 6606 | 115.2% |
5 | World Alliance Financial | 5835 | 49.4% |
6 | Generation Mortgage | 3389 | 294.5% |
7 | Urban Financial | 2473 | 393.6% |
8 | Genworth Financial | 2224 | 211.9% |
9 | Sun West | 1639 | NA |
10 | Wells Fargo | 1536 | 601.4% |
The trailing 12 month totals doesn’t show you how the wholesale business has changed over the last few months.
If you take a look at the chart below which shows the top 5 wholesalers from July 2009. Notice anything different? JB Nutter has fallen out of the top 5 and Financial Freedom just made it coming in at #5. While the both of them are hurting, wholesalers like MetLife, Generation, and World Alliance Financial are picking up market share.