Among the three origination channels, only broker production increased during the third quarter. The broker share of originations neared 20% again during the quarter. (Includes six data tables.)

Lending was down slightly across products in the third quarter. UWM remained the largest conventional-conforming producer and moved into the top spot among originators of government-insured loans. (Includes two data tables.)

Declining interest rates lifted refi lending in the third quarter but couldn’t help the seasonal slowdown in purchase-mortgage originations. Nine months into the year, refi business was up nearly 50% on an annual basis. (Includes five data tables.)

Primis Bank, SmartBank, Bank7 and other smaller banks are touting efforts to increase their mortgage lending. Meanwhile, some banks continue to pull back from the sector.

Originations of first-lien mortgages declined by 2.0% on a quarterly basis to an estimated $485.0 billion in the third quarter. Nine months into the year, lending was up 10.8% on an annual basis.

Chase increased its production by 3.7% during the third quarter, helped by correspondent lending. BofA posted an even more modest increase and production was down at other large banks.

While Bank of America managed to increase mortgage production in the third quarter, lending was down at Citizens Financial and PNC Financial.

The largest lenders gained a little more market share during the first half of the year. (Includes two data tables.)

The volume of adjustable-rate mortgages flowing into agency mortgage-backed securities jumped in the second quarter of 2025 and has remained elevated. Large nonbank lenders are driving the increase. (Includes data table.)

The retail share of first-lien originations bounced back above 50% in the second quarter. Still, in the first half of the year, third-party originations increased at a faster pace on an annual basis than retail lending. (Includes six data tables.)