Nation's #1 mortgage lender is cheering brokers' market share revival
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.
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.
“Mortgage 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 borrower’s needs first,” UWM head Mat Ishbia (pictured) said in a media release. We are extremely proud to be laser-focused on the wholesale channel because we’ve always known it is what is best for the borrower and the loan originator.”
The wholesale titan recently posted its financial results for 2023.
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