Items Tagged with 'Wholesale Leaders report'


  • HECM Channel Distribution Settles In

    After the regulatory changes related to FHA lender approval and loan originator compensation have settled into mortgage production, the distribution of endorsements by business channel have appeared to end a period of volatility and eased into a consistent range.   According to the latest Wholesale Leaders Report from Reverse Market Insight (RMI), the distribution of retail and wholesale loan production has fallen into a new standard of 60% retail and 40% wholesale.  Average Retail volume has grown over the previous two years from an average of 47% in 2009 to an average of 54% in 2010 to the 60%
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  • Headwinds Follow Big 3 Exits

    The Wholesale Leaders report for May 2011 from Reverse Market Insight focuses on the changing industry dynamic following the exit of the major lenders, Wells Fargo, Bank of America and Financial Freedom.  The total number of applications taken, after increasing 8.5% in March, have dropped in April (-9.5%) and May (-8.3%).  Tracked from a perspective of number of HECM applications per day reveals the developing trend specifically from the wake of Bank of America's Exit.  The impact of Wells Fargo's exit on application trends will begin to unfold after an expected final boost in June as their originators were
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  • TPO Originations Continue to Grow

    Third party origination (TPO) of HECM loans continued it's upswing by more than doubling in April from 360 to 735 loans in the Wholesale Leaders April 2011 report from Reverse Market Insight.   TPO's made up 30% of all wholesale loans in April.  MetLife, which jumped out ahead of the other wholesale lenders in March, remained static while other lenders began to pick up pace. Following the official end of correspondent approvals by FHA and the conversion to lender sponsorships in January, it appears that lenders are getting a handle on managing the TPO relationships.  A question to consider
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  • Wholesale Continues Positive Momentum

    For the second consecutive month, wholesale HECM endorsement percentage growth outpaced retail growth. The Wholesale Leaders Report from Reverse Market Insight (RMI) with data through February shows that despite the many regulatory challenges, wholesale production continues to battle back.   The total endorsements grew by 6.5% in February driven primarily by a 16.2% increase in wholesale endorsements.  Retail endorsements crossed over to positive growth of 0.6% after seeing a decline in January. After falling to a low market share of 33.7% in December, wholesale production has bounced back significantly to 40.8% of total production.  It is still down from
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  • Retail Growth Continues to Trump Wholesale

    The final Wholesale Leaders Report for 2010 from Reverse Market Insight (RMI) revealed the second consecutive month that retail endorsement activity out paced wholesale endorsements in terms of percentage growth.  For the final month of 2010, retail endorsements grew by 8.5% to 4,343 units, while wholesale fell by 13.3% to 2,207.  Total endorsements were flat from November to December. The chart below demonstrates the shift in 2010 between retail (blue) and wholesale (yellow)   The variation of total units marks a year where there was a power shift between the channels.  In January of 2010, wholesale out produced retail
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