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.
