Reverse Market Insight published its wholesale leaders report and shows that wholesale volume for May 2009 was down 20% from the prior month with 4,275 units. This compares to a 35.5% drop in direct endorsed loans, and a 28.4% drop in overall endorsements.
Below is a list of the top wholesale reverse mortgage lenders through May 2009.
|3||Bank of America||8,818||-12%|
|5||World Alliance Financial||5,263||53%|
Financial Freedom grabbed the top spot back from JB Nutter, but its doubtful it will stay that long with their wholesale volume down 33%. JB Nutter’s wholesale business seems to be picking back up but their retail production is down 38% over the last year.
Also, MetLife moved up the rankings as well as Urban Financial / Reverseit which went from 9th to 7th.