Top Wholesale Reverse Mortgage Lenders of 2009 Update

image Reverse Market Insight published its wholesale leaders report and shows that wholesale volume for May 2009 was down 20% from the prior month with 4,275 units.  This compares to a 35.5% drop in direct endorsed loans, and a 28.4% drop in overall endorsements.

Below is a list of the top wholesale reverse mortgage lenders through May 2009.

  Lender Units Growth
1 Financial Freedom 15,804 -33%
2 JB Nutter 15,060 38%
3 Bank of America 8,818 -12%
4 MetLife 5,360 112%
5 World Alliance Financial 5,263 53%
6 Generation Mortgage 2,591 276%
7 Urban Financial 2,042 427%
8 Genworth 1,833 225%
9 Sun West 1,639 NA
10 Wells Fargo 1,294 740%

Financial Freedom grabbed the top spot back from JB Nutter, but its doubtful it will stay that long with their wholesale volume down 33%.  JB Nutter’s wholesale business seems to be picking back up but their retail production is down 38% over the last year.

Also, MetLife moved up the rankings as well as Urban Financial / Reverseit which went from 9th to 7th.

Wholesale Leaders – May 2009

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