Brokers Still the Main Engine for Origination of Subprime Loans
June 9, 2006
Mortgage brokers were the primary source of new loans for subprime lenders in the first quarter of 2006, a new Inside B&C Lending analysis reveals. During the first three months of this year, brokers accounted for a whopping 61 percent of subprime originations – the highest level ever for that channel. In 2005, brokers accounted for 59.3 percent of subprime business. Overall, brokers have grown their market share by almost 20 percent since 2002,…