Reverse mortgage volume down 25.8%News added by ProWEB Media on July 22, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

Wholesale reverse mortgage volume in May plummeted 25.8 percent to a figure of only 2,058 units, Reverse Market Insight reports.

This drop represents the fourth consecutive month-over-month decline and the most significant slump in five years.

According to RMI, "In many ways, today's report illustrates what has long been considered a truism in the mortgage industry: Wholesale is much faster to grow, but retail is where companies create lasting franchise value. We're all in favor of a healthy industry with both retail and wholesale channels, but the trends right now are increasingly showing strain in the broker/wholesale side of the industry."
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