While retail continued to be the top channel in securitizations of conforming loans, correspondents gained 294 basis points of market share in the third quarter.

The retail share of conventional-conforming production rose by more than three percentage points while government and nonconforming lenders turned toward correspondents. (Includes two data tables.)

Banks and thrifts reported $44.54 billion in retail mortgage production in the second quarter, making it the strongest three-month period for bank retail lending since the third quarter of 2022. (Includes two data tables.)

The retail channel’s share of agency MBS production slipped from 47.4% in the first quarter to 45.6% in the second quarter. The correspondent and broker channels gained share. (Includes two data tables.)

Despite inventory challenges, officials at Flagstar are hopeful that an expected rate cut will help boost mortgage originations.

Brokers gained market share across all three lending sectors in the first quarter. The biggest gain was in the government-insured lending market. (Includes two data tables.)

Retail originations by banks and thrifts typically decline on a quarterly basis in the first quarter of a year, a trend that continued in 2024. However, retail lending was up compared with the first quarter of 2023. (Includes two data tables.)

Agency securitizations of correspondent loans were sharply down in the first quarter of 2024 as volume dropped across the board. Refinances made a surprising surge, while credit quality remained unchanged. (Includes two data tables.)

While overall correspondent sales to unaffiliated non-agency buyers declined in 2023, Veterans United increased its sales volume. (Includes data table.)

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