Wholesale Volume Down 9.8% in October, Urban Takes Top Spot

Wholesale reverse mortgage volume fell 9.8% to 2,307 units during October according to the latest report from Reverse Market Insight.

Combined retail and wholesale volume was down 11.4%, with 5,283 units during the month.

After MetLife’s five month run being the number one wholesaler, Urban Financial/Reverseit took over the top spot with 503 HECM units.  Bank of America was the second largest wholesale lender with 444 units, down from 447 HECM loans in September.

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MetLife’s wholesale operation followed with 352 units, down from 512 HECM loans in September.  Rounding out the top 5 was Generation with 298 units and Genworth with 255 wholesale reverse mortgages endorsed.

Chart: Wholesale Retail 2010

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Wholesale Retail 2010

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To view a copy of the report, see here.

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