Last week, 253 originators switched companies and 969 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.
Earlier this year, we published findings from our 2024 analysis showing that Top 500 IMBs were missing 64% of repeat borrower opportunities, representing more than $108 billion in lost recapture volume.
We have now updated our analysis using loan data from the first half of 2025.
The trend is not improving. It is getting worse.
68% of repeat borrower opportunities are being lost among the Top 500 IMBs.
That equates to more than $66 billion in lost borrower retention volume in just six months.
If that pace continues, the industry will outpace last year’s already staggering loss totals.
And while many lenders are still debating retention strategy, the largest players are moving aggressively to control the borrower relationship.
Rocket expanded its ecosystem through Redfin and Mr. Cooper.
UWM acquired Two Harbors.
PennyMac acquired Cenlar’s servicing business.
Each of these moves increases control over servicing, borrower data, and long-term customer touchpoints.
The direction of the market is unmistakable. The companies investing in servicing scale, consumer access, and lifecycle ownership are positioning themselves to capture the repeat borrower before competitors ever get a shot.
Meanwhile, 68% of opportunities are walking out the door.
This is not a rate problem.
It is not a brand problem.
It is a visibility and execution problem.
Borrower retention migration is accelerating because borrowers are being engaged consistently by someone. If it is not their original lender, it is a competitor with better timing, better data, and a stronger follow-up system.
The implications compound quickly:
Retention begins the day after closing, not at payoff.
The lenders outperforming in recapture share three consistent traits:
RETR’s Home Value Report remains a practical way for originators to maintain borrower engagement between transactions. Teams can also access the Borrower Retention Strategy class in the Training section for implementation guidance. Company-level and originator-level retention performance can be reviewed at www.LoanLossReport.com.
Servicing is consolidating.
Platforms are scaling.
Data advantages are widening.
Here’s the big question: Are you positioned to compete for the borrower you already earned?
When it comes to mortgage market intelligence, you have a handful of options, and RETR is one that truly stands out. Here’s what Kayla Kallander, top producer at First International Bank & Trust has to say about RETR: “The smarter, easier-to-use data from RETR helps me have better strategic conversations with my agent partners.”
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.