Retail lending continued to outpace wholesale volume in July, with endorsements down overall, according to the most recent report from Reverse Market Insight.
Retail declined 5.2% month-over-month and wholesale saw a 7% loss, with the gap between the two channels remaining fairly small, RMI reports.
“Bottom line, the industry has basically finished the transition to the Third Party Originator (TPO) world and further changes in volume will be related to other factors like lender exits and other events more than the past regulatory changes,” RMI wrote.
With the addition of non-FHA-approved TPOs to the reverse mortgage origination space, RMI has changed the format of its reports to identify originators and lenders with an overall ranking of single month volume for the top 100 origination companies. this shows calendar year-to-date totals and rankings for each company along with monthly and year-to-date growth rates, according to RMI’s description.
Under the new rankings, Wells Fargo assumed the top position, with MetLife in the second spot. One Reverse, Generation and American Advisors Group took the next three positions for July.
View the report.
Written by Elizabeth Ecker