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Generation and Genworth’s Wholesale Business Benefits From Nutter’s Problems

image Reverse Market Insight published its wholesale lender report for April and shows that JB Nutter’s warehouse line problems impacted their wholesale business hard as its endorsement volume fell to 233 loans from 1331 in the previous month.

Despite its major drop in volume, data shows that Nutter still has the highest capture rate of its brokers which send 48% of their business to the company.  Genworth has the lowest capture rate among the top wholesale lenders with 15%.  Below is a list of the top wholesale reverse mortgage lenders through April 2009.

Lender Units Growth
1 Financial Freedom 16,147 -38.7%
2 JB Nutter 15,623 53.2%
3 Bank of America 9,357 6.6%
4 MetLife Bank 5,226 131.0%
5 World Alliance Financial 5,150 70.4%
6 Generation Mortgage 2,297 272.3%
7 Genworth Financial 1,786 315.3%
8 Urban Financial 1,728 464.7%
9 Sun West 1,674 NA
10 Wells Fargo 1,202 1000.0%

Assuming Nutter’s wholesale numbers bounce back in May I’d expect them to take the top spot back from Financial Freedom.

Wholesale Leaders – April 2009

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