Top Wholesale Reverse Mortgage Lenders Through July 2009
August 21st, 2009 | by admin Published in News, Reverse Mortgage, Top HECM Lenders | 3 Comments
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.
- Related Posts
- Top Wholesale Reverse Mortgage Lenders of 2009 Update
- Generation Mortgage’s Wholesale Business Sees Growth in 2009
- Wholesale Reverse Mortgage Volume Down 7% in 2009, Financial Freedom Holds On
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August 21st, 2009 at 10:24 am (#)
It will be a relief to get away from MetLife as they cannot handle thier volume. Reminds me of the good old Bank of New York days. 3 months to close a loan!!! And they have no respect for thier partners who send them all the business.
August 21st, 2009 at 11:28 am (#)
If you are looking for a wholesale lender who will provide personalized service and very quick turn-times on underwriting you should take a look at Live Well Financial. I have been working with them for over 5 months now and have been very impressed. Whenever I call, they answer the phone. Whenever I have a problem, they work with me to get resolution. Whenever i need to move a file quickly, they are able to accommodate. That and they now have a full suite of variable and fixed-rate products. I wouldn't work with anyone other than Live Well.
August 21st, 2009 at 11:38 am (#)
Senior Helper, considering your post came from Live Well Financial's IP address, it's pretty obvious you work there…