Last week, 443 originators switched companies and 1,260 individuals obtained their NMLS license. Notable originator movements last week include:
Figures are based on last 14 months’ production.
Top Gainers (non-Bank/CU):
Calculations based on last aggregate production of individual LO’s 14 months’ production for companies with at least 20 loan officers. Excludes companies below $100M in 14mo LO production value after gains factored in.
Borrower retention is quietly becoming one of the most important competitive advantages in mortgage.
New data from the first half of 2025 shows the gap between lender types is widening. While banks continue to retain roughly half of their borrowers, many non-bank lenders are losing three out of every four past customers when the next mortgage opportunity arises.
The charts below reveal where the industry actually stands and how retention performance has shifted since 2024.
Industry Retention Is Slipping
Using loan-level data from the first half of 2025, RETR analyzed borrower retention across 1,176 mortgage companies with at least $100M in annual loan volume and 10+ loan officers.
Across all company types, the average borrower retention rate declined from 40.6% in 2024 to 38.6% in H1 2025, with a median of 37.4%.
That means the typical lender is now losing more than six out of every ten past borrowers when the next mortgage opportunity arises.
What stands out most in the distribution chart is the range of outcomes.
Retention rates span from 0% to as high as 96%, meaning some lenders lose nearly every borrower they originate while others retain the vast majority.
When results vary that dramatically within the same market environment, the explanation is rarely interest rates or housing supply.
It is execution.
Banks Continue to Lead — And Remain Stable
Banks and credit unions remain the strongest performers in borrower retention.
In 2024, banks averaged roughly 49.4% retention.
In H1 2025, that number remains largely unchanged at 48.8%, with a median of 50.7%.
The distribution chart shows a large concentration of banks between 45% and 65% retention, with several institutions performing well above that range.
This stability suggests borrower retention in the bank channel is less dependent on market cycles and more driven by structural advantages such as:
• servicing ownership
• deeper customer relationships
• ongoing consumer engagement
Top performers in the latest dataset include Marquette Savings Bank, Luminate Bank, and EastRise Federal Credit Union.
IMB Retention Is Moving in the Wrong Direction
Independent Mortgage Banks show the most concerning trend in the updated data.
In 2024, the average IMB retained 29.6% of borrowers.
In the first half of 2025, that number has dropped to 24.5%, with the median declining to 20.9%.
This means the typical IMB is now losing roughly three out of every four borrowers.
The distribution chart shows most IMBs clustering between 10% and 30% retention, with relatively few companies exceeding the 50% level.
This reinforces a growing structural challenge in the IMB sector. Many companies excel at acquiring borrowers, but far fewer have built systems designed to consistently retain them.
Top performers among IMBs include A Best Financial Corporation, South River Mortgage, and Active Link.
Brokers Are Also Losing Ground
Mortgage brokers experienced a similar decline.
In 2024, broker retention averaged 30.6%.
By H1 2025, the average has fallen to 25.9%, with a median of 25.5%.
Most brokerages cluster between 15% and 35% retention, reflecting the structural difficulty of maintaining long-term borrower relationships without servicing ownership or centralized retention infrastructure.
Top performers among brokers include Xpert Home Lending Inc., Answer Home Lending Inc., and 24/7 Mortgage Corporation.
The Structural Gap Is Growing
When viewed together, the data reveals a widening divide across lender types:
|
Company Type |
2024 Avg Retention |
H1 2025 Avg Retention |
|
Banks |
~49.4% |
48.8% |
|
IMBs |
29.6% |
24.5% |
|
Brokers |
30.6% |
25.9% |
|
Industry Overall |
40.6% |
38.6% |
Banks are retaining roughly half of their borrowers.
Most non-bank lenders retain only one quarter.
Over time, that gap compounds.
Every borrower retained represents future refinance opportunities, equity transactions, and repeat purchase loans. Every borrower lost forces the lender to reacquire that customer through new marketing spend.
Why the Largest Platforms Are Buying Servicing
These trends also help explain the strategic moves happening across the industry.
Major platforms are increasingly investing in servicing ownership and consumer ecosystems, including:
• Rocket expanding through Redfin and Mr. Cooper
• UWM acquiring Two Harbors
• PennyMac acquiring Cenlar’s servicing platform
These moves are not just about scale.
They are about owning the borrower lifecycle.
Servicing creates visibility into borrower equity, refinancing incentives, and purchase timing — allowing lenders to reach borrowers before competitors do.
The Next Mortgage Cycle Will Be Won on Retention
For decades, mortgage companies have focused almost exclusively on origination volume.
But the retention distributions suggest a different competitive dynamic is emerging.
The lenders clustered on the right side of these charts are quietly building a renewable pipeline of future transactions.
Those on the left will continue competing to reacquire the same borrowers again and again.
Over multiple cycles, that difference reshapes market share.
And as the latest data shows, the gap between those two groups is widening.
When it comes to mortgage market intelligence, you have a handful of options, and RETR is one that truly stands out. Here’s what Steve Grossman, top producer at Luminate Bank has to say about RETR: “Implementing RETR has been a game changer for me and my team. The accuracy of the data and functionality of the website provide valuable insight into my referral partners and competition. When looking to grow a realtor base or deepen existing relationships, RETR empowers today’s loan officer to be hyper-focused with their business development initiatives.”
But you don’t have to take their word for it. RETR offers a free trial to loan officers, branches, and mortgage companies to judge the quality of the data and insights for themselves.