Last week, 505 originators switched companies and 1,336 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. Excludes companies below $100M in 14mo LO production value after gains factored in.
In Part 1, we looked at where loan officers are moving. Now the next important question:
How much production is moving with them?
RETR analyzed the historical production volume associated with loan officers who changed companies between January 1 and September 9, 2026.
The channel-level results were clear:
Mortgage Brokers
Independent Mortgage Banks
Banks and Credit Unions
Just as we saw with LO headcount, brokers were the only major channel with positive net production movement.
The Same Channel Pattern Shows Up in Production
The largest cross-channel production flow was between IMBs and brokers.
LOs moving from IMBs to brokers represented approximately $17.4 billion in production volume.
Going the other direction, LOs moving from brokers to IMBs represented approximately $10.6 billion.
That creates roughly $6.8 billion in net production flowing from IMBs to brokers.
A similar pattern appears between banks and IMBs.
LOs moving from banks and credit unions to IMBs represented approximately $12.3 billion in production, while LOs moving from IMBs to banks and credit unions represented about $7.4 billion.
That’s roughly $4.9 billion in net production moving from banks/CUs to IMBs.
Put it together, and the production flow looks a lot like the headcount flow from Part 1:
Bank / Credit Union → IMB → Broker
Headcount and Production Are Telling the Same Story
That consistency is what makes the trend notable.
Brokers didn’t just gain more LOs than they lost. They also gained more production than they lost.
Banks and credit unions lost both net headcount and net production.
And IMBs again landed in the middle — gaining production from banks while losing production to brokers.
If headcount were moving one way and production another, the picture would be much less clear.
So far in 2026, they are largely pointing in the same direction.
Which Companies Are Winning on Net Production?
The channel trend does not mean every company within a channel is moving the same way.
Several lenders are standing out as clear net production winners.
CrossCountry Mortgage led our analysis with approximately +$5.09 billion in net production volume gained.
It was followed by:
Other top-10 net gainers included Lakeview Loan Servicing, Fifth Third Bank, Pinnacle Bank, Barrett Financial Group, and Cornerstone First Mortgage.
That list spans multiple channels, reinforcing an important point:
Channel trends matter, but individual companies can still outperform them.
What Is Production Following?
The data tells us where production is moving.
It does not tell us why.
But it raises an important question for mortgage leaders:
What are productive loan officers optimizing for when they choose their next platform?
Compensation? Control? Technology? Lead flow? Operational support? Realtor relationships?
Whatever the answer, through September 9, 2026, both LO headcount and production volume are showing the same broader pattern:
Bank / Credit Union → IMB → Broker
And at the company level, the biggest winners are the firms attracting more production than they are losing.
Source: RETR Data Intelligence Platform. LO movement from January 1 through September 9, 2026. Volume reflects historical production associated with moving loan officers.
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