Top Wholesale Reverse Mortgage Lenders Through July 2009

image 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. 

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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. 

 

Wholesale Leaders – July 2009

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  • 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.

  • 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.

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