Retail lenders gained the most ground in the nonconforming market.

Retail lenders gained market share in the second quarter, mostly at the expense of correspondent aggregators. Brokers lost some ground mainly because production didn’t grow quite as fast as the market overall. (Includes two data tables.)

The retail segment, with a market share of 42.7%, maintained a narrow lead ahead of correspondents in the second quarter.

The retail channel lost some market share in agency securitizations but maintained a narrow lead over the correspondent channel in the second quarter of 2025. Credit quality weakened while the average loan size reached a new peak. (Includes two data tables.)

Correspondent aggregators increased their agency origination footprint in the first quarter of 2025, even as securitization volume fell by 22.6%. Purchase mortgages still dominated the market while credit quality remained stable. (Includes two data tables.)

Wholesale-broker originators boosted their market share in conventional-conforming mortgages in the fourth quarter. Correspondents regained some previously lost ground in FHA/VA lending while retail remained king of the nonconforming segment. (Includes two data tables.)

Correspondent production made up 46.1% of the group’s government-insured volume in the fourth quarter.

In the fourth quarter of 2024, correspondent aggregators regained FHA/VA market share previously lost to wholesale-brokers.

FHA activity fell 16.8% while VA production was down 15.1% from January.

The Ginnie Mae market continued to retreat in February. Most securitizers lost volume and PennyMac retained its top spot despite a 29.4% decline in issuance volume. (Includes two data tables.)