While retail originators of federally insured reverse mortgages made production gains last year, wholesale lenders struggled to keep up. As three formerly prominent players exited the reverse lending arena, two firms have established themselves as the new retail and wholesale leaders.

Wells Fargo Bank, N.A., exited the reverse lending arena with a bang.

The company, which last June said it would stop originating home-equity conversion mortgages, saw 15,673 retail and wholesale HECMs endorsed by the Federal Housing Administration during all of 2011 — more than any other lender.

More: continued here

Related Content

Subscribe to the post comments feeds or Leave a trackback