Refinance volume was up across the board in first-quarter agency business, but the sharp spike in VA activity caught the most attention. (Includes three data tables.)

United Wholesale Mortgage was the largest lender in 2023. Only 19 of the top 100 lenders increased their production during the year. (Includes data table.)

Employee count increased at United Wholesale Mortgage in 2023, while at Rocket Companies it was down 20.5% on an annual basis. (Includes data table.)

Wholesale-broker platforms took a significantly bigger share of the shrinking refinance market in 2023 as consumer-direct/retail volume lost ground. (Includes six data tables.)

According to an early read, banks suffered double-digit home lending declines in the final lap of 2023 even though rates fell by at least 80 bps.

Originations of home equity lines of credit and closed-end second liens declined somewhat in the third quarter. Home price appreciation was offset by rising interest rates. (Includes three data tables.)

Nonbanks regained market share among the top 100 mortgage producers in the third quarter despite a small decline in volume. First-lien lending at small banks and credit unions was up. (Includes two data tables.)

Subservicing volume declined during the third quarter, which might explain some of the recent consolidation in the space.

UWM was the top originator of purchase loans for the first nine months of 2023, while Rocket held the lead in refinance lending. The FHA saw a rising share of purchase loans sold to the agencies in the third quarter. (Includes four data tables.)

These are humbling times for warehouse firms that finance nonbanks. Commitments are down overall, as are usage rates. Also, it appears that Truist is having second thoughts about lending money to smaller nonbanks. (Includes data table.)