Generation and Genworth’s Wholesale Business Benefits From Nutter’s Problems
May 26th, 2009 | by admin Published in News, Reverse Mortgage, Top HECM Lenders | 4 Comments
Reverse Market Insight published its wholesale lender report for April and shows that JB Nutter’s warehouse line problems impacted their wholesale business hard as its endorsement volume fell to 233 loans from 1331 in the previous month.
Despite its major drop in volume, data shows that Nutter still has the highest capture rate of its brokers which send 48% of their business to the company. Genworth has the lowest capture rate among the top wholesale lenders with 15%. Below is a list of the top wholesale reverse mortgage lenders through April 2009.
| Lender | Units | Growth | |
| 1 | Financial Freedom | 16,147 | -38.7% |
| 2 | JB Nutter | 15,623 | 53.2% |
| 3 | Bank of America | 9,357 | 6.6% |
| 4 | MetLife Bank | 5,226 | 131.0% |
| 5 | World Alliance Financial | 5,150 | 70.4% |
| 6 | Generation Mortgage | 2,297 | 272.3% |
| 7 | Genworth Financial | 1,786 | 315.3% |
| 8 | Urban Financial | 1,728 | 464.7% |
| 9 | Sun West | 1,674 | NA |
| 10 | Wells Fargo | 1,202 | 1000.0% |
Assuming Nutter’s wholesale numbers bounce back in May I’d expect them to take the top spot back from Financial Freedom.
Wholesale Leaders – April 2009
Technorati Tags: Reverse Mortgage,News,HECM,FHA,HUD,Top HECM Lenders,JB Nutter,Generation Mortgage,Genworth
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