Close

March 23, 2011

Unofficially: Banks Increasing Loan Market Share Over Brokers

March 23, 2011

Unofficially: Banks Increasing Loan Market Share Over Brokers

What am I hearing out there? I am hearing, not officially, that wholesale reps are having trouble drumming up business from brokers. Total industry production estimates for 2011 are down 30% from 2010’s levels, but applications are holding in pretty well – maybe loans are coming in through retail channels. In fact the MBA reported that apps rose 2.7% last week, with refi’s accounting for almost 67% of applications. The ARM share is almost up to 6%.

The April 1 implementation date for harsher loan agent compensation rules will impact agents at banks and brokerages, but likely more on the brokers. More on this in the next week as the deadline looms…

Skip to content