RMS Sees Strong Reverse Mortgage Growth in Correspondent, HMBS Issuance

Reverse Mortgage Solutions’ third-party origination channel will lead the company’s growth in 2012, with its Ginnie Mae issuance opportunities being another strong growth driver, Origination News reported last week.

Spring, Texas-based RMS launched its correspondent business arm in March, 2011, and has seen production grow ever since. Between its correspondent and wholesale channels, the company is pursuing even more growth in the coming year, the article reports.

“Our aggregation business has pretty much exploded,” Mike Kent, RMS senior vice president, told Origination News. “In October we did $150 million, (November) we did $175 million. We’ll do $140 million (for December) and we’ve already got on the books about $160 million for January.”

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Kent said the recent decision by MetLife to discontinue the purchase of broker-sourced correspondent loans has led to growth in the company’s own correspondent channel as well.

Ultimately, however, RMS says all origination efforts lead to the same end goal: Ginnie Mae issuance.

“Our forte is our HMBS issuance process,” Kent said. “We’re highly efficient and how ever we can flow business into that, whether it be through our aggregation, correspondent flow or wholesale channels, that is where we are really looking to grow our business.”

Read the Origination News article.

Written by Elizabeth Ecker

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