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Mortgage market share gains concentrate among a small lender group

HousingWire cites RETR data showing only 2.8% of lenders captured about two-thirds of all production growth over the past 12 months.

Reported · Written up by our desk · Mortgages

HousingWire reports that as elevated mortgage rates and flat volumes persist, the mortgage market is becoming a “street fight,” with production growth concentrating among a small group of lenders.

At HousingWire’s Mortgage Banking Summit in Dallas, Princeton Mortgage CEO Rich Weidel said competition is pushing loan officers toward nondelegated correspondent and broker channels that have lower cost structures, rather than traditional dealer or delegated models.

HousingWire cites RETR data covering 2,070 lenders showing that half of lenders saw net production shrink last year, while only 57 companies across all channels grew by more than $400 million over the past 12 months.

The outlet added that the small cohort, representing 2.8% of companies, captured roughly two-thirds of all production growth in the market.

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