Mortgage Broker Statistics From Filogix
If you want a great source of mortgage broker stats head over to Filogix's website and check out their Mortgage Broker Market Report.
Their latest report highlights some interesting trends. For example, from January 2007 to January 2008:
- Overall broker-funded mortgage volume increased 5.37%
- Deal volume sent through chartered banks dropped almost 1%
- Volume at mortgage banks (e.g. First National, MCAP, etc.) grew over 36%
- Brokers sent 12% less volume to credit unions
- Subprime volume plunged 49%!
The above statistics are based on broker-originated mortgages that funded and were processed through the Filogix network. Volume processed through other avenues (by bank reps at branches for example) are not included in the above figures.
Filogix is the leading provider of mortgage connectivity software in Canada. These stats are therefore a good proxy for the Canadian broker industry.
This is great and also very interesting post,thank you very much.
Posted by: Brokering | March 22, 2008 at 05:10 AM