Mortgage Brokers Celebrate As Wholesale Lending Hits 15-Year High
The mortgage broker channel has been steadily gaining market share, reaching a 15-year high of 24.3% in Q4 2023, according to United Wholesale Mortgage (UWM), citing data from Inside Mortgage Finance.
Growing Consumer Confidence
This marks the highest broker market share since 2009, reflecting growing consumer confidence and demand for independent mortgage brokers.
UWM noted a 2021 HMDA data analysis that showed consumers save an average of $9,407 throughout the life of their loan when using a mortgage broker compared to a bank or retail lender.
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Data analysis showed consumers save an average of $9,407 throughout the life of their loan when using a mortgage broker
Commitment and Passion
āMortgage broker market share hitting a 15-year high is not only an outstanding achievement, it is a testament to the care, commitment, and passion brokers across the country pour into putting their borrowerās needs first,ā UWM head Mat Ishbia (pictured) said in a media release. We are extremely proud to be laser-focused on the wholesale channel because weāve always known it is what is best for the borrower and the loan originator.ā
This article was originally written by Candid Mendoza in www.mpamag.com
