After only 4,551 units endorsed in May, the lowest amount of units since 2005, wholesale and retail volume bounced back in June according to data from Reverse Market Insight.
For the second month straight, retail originations outpaced wholesale with 2,900 units, an increase of 17.6% from May. Broker volume grew 15.2%, coming in at 2,404 units during the month.
MetLife was the top wholesale reverse mortgage lender for the second month straight with 480 units, followed by Bank of America with 357 units. Rounding out the top five was Urban Financial/Reverseit (352 units), Generation (347 units), and Genworth (170 units).
According to data from RMI, three of the top five fastest growing lenders aren’t big financial institutions. The group includes Guardian First Funding, Cooper and Shein, and Net Equity Financial. For a copy of the full report, click the link below.
