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.
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.
To view a copy of the report, see here.