New Fiscal Year Brings New Reverse Mortgage Top 10
With the 2009 fiscal year ending on September 30, this month’s HECM volume report revealed a new list of the top 10 reverse mortgage lenders, very much changed from that of last fiscal year. The list is below, compared to that of 2009 FY. However, given how close many of the lenders are to each other in terms of the number of HECMs they endorsed, it is by no means clear how the list will shake out over the next few months.
October 2009:
1. Wells Fargo
2. Bank of America
3. MetLife Bank
4. Financial Freedom Acquisition
5. One Reverse Mortgage
6. 1st AAA Reverse Mortgage
7. First Mariner Bank
8. Security One Lending
9. Harvard Home Mortgage
10. Stay in Home Mortgage
Fiscal Year 2009:
1. Wells Fargo
2. Bank of America
3. World Alliance Financial Corp
4. Financial Freedom
5. One Reverse Mortgage
6. MetLife Bank
7. Countrywide Financial
8. Generation Mortgage
9. Urban Financial Group
10. 1st AAA Reverse Mortgage
Thus, from last year’s top 10, only 6 remain in the top 10 for October. The complete list for October can be found on the HUD website. The changes will also be reflected on the Reverse Mortgage Guides website in the Lender Directory in the near future.
