Wholesale Leaders – July 2009

Our Wholesale Leaders report is now available for July, 2009. Wholesale made up 5,392 of the 9,828 units done in July, bringing the YTD number to 35,204. Financial Freedom remains the top wholesale lender for the trailing twelve months, but it’s close. MetLife continues its short-term run, however, and has held on to the top spot for the last two months.

The following tables show how different the landscape looks on a current month vs. trailing twelve month basis. Metlife has certainly seen quite a bit of lift from being the first to offer the 5.56% fixed rate loan, and WAF was right behind with their 5.63% offering. Given the commodity nature of this business, we have seen others begin offering the same rates lately, so it’ll certainly make for more changes in these lists going forward.

Top 10 – Trailing Twelve Months

Loans Lender
12,860 FINANCIAL FREEDOM ACQUISITION
12,804 JAMES B NUTTER AND COMPANY
8,079 BANK OF AMERICA NA CHARLOTTE
6,607 METLIFE BANK
5,835 WORLD ALLIANCE FINANCIAL CORP
3,389 GENERATION MORTGAGE COMPANY
2,473 URBAN FINANCIAL GROUP
2,224 GENWORTH FINANCIAL HM EQUITY A
1,868 SUN WEST MORTGAGE CO INC
1,536 WELLS FARGO BANK NA

Top 10 – Month of July, 2009

Loans Lender
1,040 METLIFE BANK
806 BANK OF AMERICA NA CHARLOTTE
610 WORLD ALLIANCE FINANCIAL CORP
575 GENERATION MORTGAGE COMPANY
520 FINANCIAL FREEDOM ACQUISITION
430 JAMES B NUTTER AND COMPANY
359 GENWORTH FINANCIAL HM EQUITY A
270 URBAN FINANCIAL GROUP
197 SUN WEST MORTGAGE CO INC
174 WELLS FARGO BANK NA

If nothing else, the stark difference between these two lists should point out that you really should be looking at the most timely information possible to run your wholesale business.  We humbly suggest our Wholesale Analytics Reporting service is the tool you’re seeking.

Continuing Trends

Other top gaining Wholesale Leaders include Generation Mortgage, Urban Financial and Genworth Financial, all more than tripling their Wholesale volume over the past year.  The turmoil in the Wholesale side of the business has been much commented all around our industry, but these numbers certainly drive home the changing realities as opportunitistic competitors pick up business while some of the historical leaders struggle.

Check the report below for more details and don’t be afraid to drop us a line if you’d like to compare notes on what this might mean for your business.

Wholesale Leaders - July 2009