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Mortgage Market Intel #4 -  Jan  26, 2026

Picture of James Hooper

Borrower Retention Winners and Losers

Last week, we shared a stat that raised a few eyebrows:
Top IMBs are losing the majority of their repeat borrower opportunities.

So we asked the obvious follow-up question:
Is this an IMB problem-or an industry problem?

To find out, we analyzed 2024 borrower retention performance across four groups:

  • The industry as a whole
  • Banks and credit unions
  • Independent Mortgage Banks (IMBs)
  • Mortgage brokers

All companies in the analysis meet the same criteria: $100M+ in annual loan volume and 10+ loan officers.

The Big Picture

The industry-wide distribution tells a clear story: Borrower retention performance is all over the map.

Some companies retain fewer than 10% of past borrowers.
Others recapture 70% or more.

That kind of spread doesn’t happen by accident. It’s a sign that borrower retention isn’t constrained by market conditions-it’s driven by execution.

Borrower Retention Chart: Mortgage Industry

Banks Are Pulling Away

Among all cohorts, banks and credit unions are the clear winners.

Their retention distribution skews meaningfully higher, with a large concentration of institutions retaining 40–60% of past borrowers-and a noticeable group pushing well beyond that.

In other words, banks aren’t just winning at the top. They’re winning consistently.

Borrower Retention Chart: Banks and Credit Unions

IMBs: The Middle Is the Problem

IMBs tell a very different story. Many are highly effective at originating loans, but far fewer are structured to recapture borrowers once the transaction ends.

Most IMBs cluster tightly in the 20–40% retention range. That concentration matters. It indicates borrower loss isn’t driven by a few underperformers-it’s systemic across the segment. Only a small number of IMBs break meaningfully out of that range.

Staunton Financial, Inc. (dba John Adams Mortgage and Total Home Lending) is one of those breakout performers. Reflecting on their success, Larry Bsharah, President of John Adams Mortgage and Total Home Lending, shared:

"Having the 4th-ranked IMB in the country for customer retention speaks volumes about the Sales and Ops teams’ focus on the borrower’s initial financing experience with us. By combining advanced technology, strong loan officer interaction with borrowers and Realtors, and deep local market knowledge, we play to our strengths. Borrowers appreciate our communication both throughout the process and after closing. We truly protect our Realtors’ and referral partners’ customers—and this statistic proves it."

 

Borrower Retention Chart: IMBs

Brokers Trail Behind

Brokers face the steepest challenge.

While only a small number of firms perform at the top end, the broker segment overall remains concentrated at lower borrower retention levels. One notable exception is Barrett Financial Group, which stands out as a leader in borrower recapture within the broker channel.

Commenting on the company’s approach, Trevor Barrett, President and CEO of Barrett Financial Group , shared:

“Our borrower retention success comes from a consistent focus on delivering the ‘wow’ for our clients. We treat every interaction as an opportunity to exceed expectations, with a strong emphasis on proactive communication and integrity. This year, our goal is to achieve a 98 percent client satisfaction rating by continuing to align with our core pillars of exceptional client experience.”

 

Borrower Retention Chart: Brokers

The Real Takeaway

Here’s the part that matters most: Borrower retention is not a volume game. It’s a systems game.

The top performers in 2024 aren’t relying on luck, brand recognition, or rate cycles. They’re doing the basics exceptionally well:

  • Tracking past borrowers with intent
  • Equipping loan officers with relationship intelligence
  • Treating retention as a growth channel-not a byproduct

As the purchase market tightens and competition intensifies, this gap will only widen.

Some lenders will keep buying the same borrower over and over again.
Others will own the relationship-and win it back.

Here’s a look at the top retention winners by cohort:

Banks ($100M+)

  1. CoVantage Credit Union (85.21%)
  2. Bank First, National Association (83.33%)
  3. Kennebec Savings Bank (82.94%)
  4. Northern Credit Union (82.18%)
  5. United Community Bank (81.44%)

IMBs ($100M+)

  1. A Best Financial Corporation (85.59%)
  2. South River Mortgage, LLC (77.85%)
  3. Active Link, Inc. (66.92%)
  4. Staunton Financial, Inc. dba John Adams Mortgage and Total Home Lending (66.86%) 
  5. A+ Mortgage Services, Inc. (64.71%)

Brokers ($100M+)

  1. Stone Bridge Mortgage Inc (59.17%)
  2. Mortgage Depot LLC (56.14%)
  3. snw investments (52.34%)
  4. NORTH ALABAMA MORTGAGE, INC. (52.17%)
  5. Barrett Financial Group, L.L.C. (49.25%)

If you want to see where you stand, enter your personal or company NMLS ID into LoanLossReport.com. If you’re interested in solutions, contact sales@retr.app.

 

Market Movers

Last week, 406 originators switched companies and 1,241 individuals obtained their NMLS license. Notable originator movements last week include:

 

Market Movers (Gainers by Producer Volume)

Top Gainers:

  1. Federal First Lending LLC +31.09%
  2. Hometown Lending Inc +26.05%
  3. Altamont Funding, Inc.. +20.73%
  4. Swift Mortgage LLC +14.59%
  5. Capstone Mortgage Lending LLC +13.5%
  6. Cornerstone First Mortgage, LLC +11.97%
  7. InstaMortgage Inc. +11.24%
  8. Lower, LLC +6.78%
  9. Lakeview Mortgage Bankers Corp. +6.46%
  10. Layton Financial Services Corp +6.01%

Calculations based on last aggregate production of individual LO’s 14 months’ production.

 

Recent RETR Features

  • Added filters to LO Ranking pages
  • Added filters to Find LO by Office Location page
  • Fix % Conv, VA, FHA filters on Find LO by Sales Area and Office Location pages
  • Coming Soon: API

 

Upcoming RETR Training

  • Mon, Jan 26 @ 2p ET - What is RETR? Register
    An overview of the many tools available to you in RETR – from agent and LO research, to list building and bulk contact exports, and borrower retention and refi finder tools, and more!
  • Wed, Jan 28 @ 12p ET - The Borrower Retention Advantage: How Loan Officers Stay Relevant Long After the Close Register
    Learn how RETR helps you turn past clients into future opportunities through smart alerts and data-driven follow-up.
  • Thurs, Jan 29 @ 2p ET - What is RETR? Register
    An overview of the many tools available to you in RETR – from agent and LO research, to list building and bulk contact exports, and borrower retention and refi finder tools, and more!

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Sean Lee - Milestone Mortgage Solutions

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