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:
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.
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.
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."
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.”
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:
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+)
IMBs ($100M+)
Brokers ($100M+)
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:
Calculations based on last aggregate production of individual LO’s 14 months’ production.
Recent RETR Features
Upcoming RETR Training
Is RETR the Better for Mortgage Market Intelligence?
Here’s what Sean Lee, Head of Business Development at Milestone Mortgage Solutions, has to say about RETR: “RETR is hands down the most robust real estate and mortgage data intelligence tool I've used. It's not only powerful, but the UX keeps searches intuitive and genuinely easy to work with. The team consistently innovates and rolls out new features that help industry professionals operate more efficiently and uncover new opportunities.”
But you don’t have to take their word for it. RETR offers a free trial to individuals and organizations to judge the quality of the data and insights for themselves.