Skip to main content

Wholesale Reverse Mortgages Outpaced Retail With 16 Percent Growth

NationalMortgageProfessional.com
Apr 12, 2011

Last month, the broker/wholesale channel performed much better than retail/direct in a down month for the industry overall, according to the latest report from Reverse Marketing Insight. Broker/wholesale outperformed again in February, up 16.2 percent compared to just 0.6 percent growth for retail/direct. Brokers are not expected to gain back all the ground they’ve lost in the past year given all the regulatory headwinds, but they are not dead yet, despite the many obituaries already written. We also suspect given the relative weakness in top 10 lenders retail business in March that we’ll probably see brokers make it a clean sweep of growth for the quarter when next month’s Wholesale Leaders report is released. Brokers comprised 40.8 percent of all endorsements in February, down considerably from last year (55.5 percent) but up dramatically from the low of 33.7 percent in December. Urban Financial Group (owned by Knight Capital) is notable as the only Top 10 lender that has grown their broker/wholesale business in the past 12 months, a tall order given the declines wholesale has seen over that same span. Click here to view the February 2011 Reverse Market Insight Report.    
More from
Reverse
Liberty Reverse Mortgage Becomes Full Service Reverse Lender Following RMS Acquisition

Last week Ocwen Financial Services announced the acquisition of Reverse Mortgage Solutions. In a recent interview with Reverse Mortgage Daily, Mike Kent shared how the acquisition will affect the company.

Reverse
Jun 22, 2021
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
Education Still Remains A Hurdle For Prospective Reverse Mortgage Borrowers

While the reverse mortgage industry has made strides in educating its borrowers, some hurdles still remain.

Reverse
Jun 09, 2021
Texas State Legislators Looks To Protect Reverse Mortgage Borrowers

A Texas House Bill has been introduced to prevent false, misleading or deceptive advertising by reverse mortgage lenders.

Reverse
Jun 02, 2021
FAR Hires A New Senior Director Of Marketing And Intelligence

Naomi Hart will lead marketing performance management with an emphasis on growth.

Community
May 28, 2021