Retail Channel Sees a Slight Uptick in Market Share In Second Quarter, Correspondents Lose Some Ground
August 25, 2016
All three major mortgage-production channels posted significant gains in volume from the first quarter of 2016 to the second, but retail posted the biggest increase. According to a new Inside Mortgage Finance ranking and analysis, an estimated $300 billion in first-lien mortgages were originated through retail platforms during the second quarter, including traditional brick-and-mortar offices and consumer-direct efforts. That was up 36.4 percent from the first three months of the year, and a scant 1.4 percent higher on a year-to-date basis. The retail share edged up to 58.8 percent, the highest it’s been in two years. Wells Fargo remained...[Includes four data tables]