Wholesale reverse mortgage volume totaled 4,450 units in January 2010, up 2.9% from the previous month according to data from Reverse Market Insight.
While wholesale volume was up from the previous month, units are down 15% compared to January 2009. Below is the top 5 wholesalers for January 2010.
1. MetLife – 1052
2. Bank of America – 783
3. Generation – 604
4. Financial Freedom – 573
5. Urban/Reverseit – 475
In addition, RM Insight reported that MetLife took over as the top wholesale reverse mortgage lender from Financial Freedom on a trailing 12 month basis. Bank of America climbed into the number 2 spot while Financial Freedom slipped into 3rd. Rounding out the top five were JB Nutter and Generation at numbers 4 and 5 respectively.
