The publication said loan originators funded a total of $443 billion in the third quarter, with retail lenders grabbing 48.3 percent of the market share and correspondent lenders accounting for 38.8 percent.
So that means mortgage brokers funded roughly $57 billion during the third quarter.
The mortgage broker-share of loan originations has dropped steadily since peaking back in the second quarter of 2007 at 28.2 percent.
“Right now it’s hard for me to see much support anywhere for loan brokers,” said researcher David Olson.
Olson recently removed the word “wholesale” from his Columbia, Maryland-based company “Access Research,” and said all the new regulations being thrown at mortgage brokers are making it “impossible” for them to stick around.
He believes most wholesalers will either convert to correspondent lenders if possible, or join existing net branches.
Unfortunately, mortgage bankers are facing risk retention provisions that could make business more difficult for them as well.