Life Cycle of a Loan
HDMA
HDMA
APPLICATION & UNDERWRITING
A mortgage broker takes the application; its wholesale partner does the underwriting.
CLOSING & PAYMENT
The loan closes in the name of the wholesale lender who also takes the first payment.
HMDA REPORTING
The wholesale lender is the HMDA reporter as it performs the underwriting.
HMDA & AGENCY DATA
Defined consistently across HMDA and agency data.
Wholesale
APPLICATION & UNDERWRITING
A mortgage banker takes the application, does the underwriting.
CLOSING & PAYMENT
A mortgage banker closes the loan in its name, and takes the first payment.
HMDA REPORTING
The mortgage banker is the HMDA reporter, as it does its own underwriting.
HMDA & AGENCY DATA
Defined consistently across HMDA and agency data.
Retail
2.77
Million
loans originated in the broader TPO channel in 2022
Wholesale Market Value
30.7%
69.3%
Wholesale
Retail
Mortgage brokers and other third-party originators are producing beyond their market share. With 28.5% of the market, wholesale is producing 30.7% of the total dollar volume for national mortgages.
Retail Vs. All TPO
Correspondent
Retail
Brokers
Non-Delegated Correspondent
Delegated Correspondent
Mortgage brokers and other third-party originators represent nearly 1/3 of the nation’s homebuyers.
2022 Mortgage Industry Volume
Origination Dollars
30.7%
Wholesale
69.3%
Retail
Wholesale
$1,010,930,145,000
Retail
$2,283,838,655,000
Home Purchase Mortgages
Mortgage brokers and other third-party originators have grown exponentially for the past 5 years; averaging a 9.2% growth in home purchases annually.
Broker
Retail
9.2%
Annually
0.38%
Annually
From 2018 - 2022, Broker Channel’s share of home purchase lending increased from 7.2% to 10.6%
2018
2022
7.2%
10.6%
National Third-Party Presence
West: 33%
South: 30%
Midwest: 22.3%
Northeast: 25.1%
