Top Wholesale Reverse Mortgage Lenders

Seniors_Home_Copyright_Getty_Images_Credit_JupiterimagesHolidays seem to come faster each year for all of us (Christmas music will start in July this year!), and then they’re gone just as fast. Reverse Market Insight's first Wholesale Leaders report of 2011 shows a similar disappearance, as the broker/wholesale side of the industry sees the beginnings of a positive trend from September-October vanish in November. After two consecutive months of outpacing retail/direct endorsement growth, wholesale fell way behind retail in the upswing. Gaining 10.4 percent in most months would be a strong performance, but pales in comparison to the 34.5 percent surge in retail. For the past six months, wholesale has grown slower when the industry grows, but also shrinks less when the industry declines.

Leading the list in retail and wholesale performance are Wells Fargo with a 23.1 percent market share, Bank of America with an 18.2 percent market share and rounding out the top three is MetLife Bank with a 14.4 percent share of the reverse mortgage market.

That might be a recipe for slow and steady wins the race, but at least so far it’s only been enough to slow the advance of retail’s market share from 47.8 percent in December 2009 to 61.1 percent in November 2010.

Among top 10 lenders, three of the nine with wholesale business grew their volumes, while just two of the 10 grew retail. That may not sound like a dominant performance, but it’s easier to understand why the top 10 gained share if we look at how many grew or declined less than the industry overall.

Retail channel outperformed industry decline for eight of top 10 lenders
Wholesale channel outperformed for seven of the nine top 10 lenders with wholesale business. In this context, the clearest trend of all is that small lenders are losing ground to their larger competitors. Retail versus wholesale/broker will remain an interesting perspective, but is just a visible effect of the underlying cause: small lender erosion.


Mortgage Refinancing Boom To Benefit Banks

2012-10-11 10:16:07 by Pelham-Bay

October 11, 2012
Federal stimulus has ignited a boom in mortgage refinancing, benefiting both homeowners and banks. And the good times could continue as the government steps up its support of the broad housing market.
The proof will be in the profits.
On Friday, Wells Fargo and JPMorgan Chase, the top two mortgage lenders in the country, are scheduled to report quarterly earnings. Their results — and the wave of other bank reports that follow — will offer clues as to whether the current mortgage boom is sustainable or set to fizzle.
“We expect mortgage revenue to continue to be elevated in the third quarter and possibly into next year,” said Jason Goldberg, a banking analyst at Barclays

Home Owners' Association Fees

2012-08-28 08:43:04 by FWLittle

Ever see a discount HOA fee? No? Me, either.
What's so special about HOA fees that they don't
undergo competitive marketing elasticity?
We negotiate home prices, we haggle closing costs.
We wait or rush due to interest rates. We swap upgrade possibilities. We switch realtors to
secure a 3% break. We shop mortgage lenders for
an ideal package. But we go-along on HOA fees.
We request the country tax assessor reappraise the property. Merchants offer "no-tax this weekend" specials, but HOA fees remain stagnant. Workers accept temp jobs sans benefits and for fewer hours but HOA fees remain constant

Banks Hiring for Home Loans as U.S. Rebounds

2012-11-20 10:06:05 by SadRenter44

U.S. banks that have been earning record profits from home loans are adding or transferring thousands of staff to catch up with demand for refinancing after shortages blocked homeowners from getting lower rates.
Employment tied to mortgages rose 9 percent this year through September to 285,000, the most since 2008, according to the Bureau of Labor Statistics, as lenders responded to Federal Reserve efforts to push down borrowing costs, President Barack Obama loosened requirements, and housing recovered from a six- year slump. Even as banks added staff, they failed to keep pace, and kept mortgage rates “much higher” than they should be to curb demand, said Vipul Jain, an analyst at Morgan Stanley

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Why Insurance Is the 'Most Misunderstood Industry'  — Knowledge@Wharton
As a result, if they haven't collected on their policy, they will cancel it because they feel that, in some sense, it was not a good deal — rather than [acknowledging] that the best return on a policy is no return at all.

Top 30 lenders--new-home loans.(Marketrac[R])(mortgage banks)(Illustration): An article from: Mortgage Banking
Book (Mortgage Bankers Association of America)

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