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.)
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.)
The retail channel lost market share in conventional-conforming, government-insured and nonconforming originations in the first quarter of 2025. (Includes two data tables.)
Both the correspondent and broker channels have gained share from the retail channel. The first quarter of 2025 marked the third straight quarter in which retail accounted for less than 50% of total first-lien originations. (Includes six data tables.)
Ohio Attorney General Dave Yost has sued United Wholesale Mortgage for allegedly colluding with brokers to push borrowers into higher-priced mortgages. UWM denied the allegations, noting that it’s not illegal for a broker to send most or all of its business to one lender.
Brian O’Shaughnessy, the former co-CEO of Rama Capital Partners, launched ARDRI to provide a mix of the latest technology and customer-focused operations for non-QM mortgage brokers.
MBA increases odds of a recession within next 12 months; new tools to verify employment, income; downpayment size increases in 2024; new proposals from MISMO; lender raises funds; Cardinal offers processing for brokers; new hire at Nationwide Mortgage Bankers.
The retail share of total first-lien originations declined to close to 50% in 2024. Brokers took share from the retail channel, led by United Wholesale Mortgage. (Includes six data tables.)