The top 3 lenders in the reverse mortgage market, Wells Fargo, Bank of America, and Financial Freedom posted significant year-on-year volume declines in the month of November at -32%, -8%, and -21%, respectively.
Considering that year-on-year volume for the industry declined only 6%, this means that these large lenders gave up a lot of ground to smaller competitors.
The biggest gainer among the top ten was World Alliance, aka Senior Lending Network, who posted a 43% increase.
Full report below for the top ten.
| Rank | Rank change | Lender | Nov-07 Volume | Nov-08 Volume | % change |
| 1 | = | WELLS FARGO | 1729 | 1170 | -32% |
| 2 | +4 | BANK OF AMERICA | 608 | 561 | -8% |
| 3 | -1 | FINANCIAL FREEDOM | 347 | 275 | -21% |
| 4 | -1 | WORLD ALLIANCE FINANCIAL | 176 | 252 | 43% |
| 5 | = | COUNTRYWIDE BANK | 173 | 201 | 16% |
| 6 | +10 | ONE REVERSE MORTGAGE | 139 | 119 | -14% |
| 7 | = | METLIFE BANK | 117 | 118 | 1% |
| 8 | +7 | URBAN FINANCIAL | 104 | 111 | 7% |
| 9 | -5 | LIBERTY REVERSE | 93 | 91 | -2% |
| 10 | +4 | 1ST AAA REVERSE MORTGAGE | 89 | 77 | -13% |