Wholesale results are in for the month of September, and of course that means the HUD Fiscal Year as well. Overall wholesale volume for the month was 5,567 units, up 6.1% from August, marking the 6th highest wholesale volume month on record. For the fiscal year, wholesale endorsements hit 60,798 loans, dropping just under 1% from the prior year.
Looking at specific lenders, we’ve seen a bit of a resurgence at Financial Freedom after they introduced their fixed rate HECM. Though still not even close to their previous highs, they’ve gained quite a bit of ground from the low endorsement month of June, and remain the #1 wholesale lender (and #3 overall) on a trailing twelve month basis.
On a combined retail and wholesale perspective, Bank of America took the top spot for the month of September, though they remain #2 overall with 16.4% market share for the year. Holding on to the top spot was Wells Fargo, with an 18% share.
Click on the image below to view the report.