That was up from a record low 10.5 percent in the second quarter, but nowhere near the 24 percent share brokers held three years ago, before mortgage boom turned to mortgage crisis.
The top three wholesale mortgage lenders during the quarter were Wells Fargo ($9.7 billion), Provident ($7.1 billion) and U.S. Bank Home Mortgage ($6.9 billion).
U.S. Bank saw wholesale loan fundings surge 65 percent, making it the strongest gainer in the top five.
In total, mortgage bankers funded $444 billion in mortgage product, the industry’s best three months since the second quarter of 2009, when super low mortgage rates spurred intense refinance activity.
The retail channel accounted for 47.3 percent of market share, followed closely by correspondent lending with a 40.9 percent share.
National Mortgage News also pointed out that the National Association of Mortgage Brokers (NAMB) currently has roughly 5,000 members, compared to 25,000 just four years ago.
Tough times, thanks to the many wholesale mortgage lenders pulling out of the space over the past several years.
Bank of America was the latest heavy-hitter to exit the wholesale channel back in October.
It was actually the second time the company pulled out of the mortgage broker-channel in the past three years.
Related: How does a mortgage broker get paid?