With Bank of America and Wells Fargo continuing to trickle off the books, lenders may be beginning to settle into a new top 10, the latest report from Reverse Market Insight shows.
Settling comfortably into the top five wholesale lenders are Urban Financial at No. 1 followed by MetLife, Generation, Genworth and Sun West, excluding Bank of America which RMI still counts for its volume over the past year.
Overall, the lenders with the most volume are led by MetLife with Urban, Generation, Genworth and One Reverse following. Also in the top 10 are American Advisors Group, Security One and Sunwest.
Once Wells and BofA fall out of top 10, John Lunde, RMI co-founder and president told RMD, First National Bank of Layton and Reverse Mortgage USA may join the ranks.
Top lenders by unit growth show some new names on the wholesale side with Plaza Home Mortgage Inc. rising to the top 10 with 359 wholesale reverse mortgage loans endorsed over the last 12 months.
Wholesale volume continues to comprise around 40% of the market overall, according to RMI.
View the RMI report.
Written by Elizabeth Ecker