Mortgage volumes in the broker channel surged in the third quarter, up 9.6% year-over-year. That’s according to data from D+H.
This data precedes the government’s transformative mortgage rule changes which kicked in on October 17 and November 30.
The top 10 broker channel lenders accounted for 84.8% of broker volume, the most in seven quarters. That’s a trend that could strengthen in 2017 as the Department of Finance’s new rules injure small lenders.