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Lenders Jockey For Position

Market Share - Words on Pie Chart GraphLenders monitor their market share like spy satellites monitor Iranian nuclear plants. That’s a big reason why Davis + Henderson’s quarterly volume report is so highly anticipated.

We got word of D+H's 4th quarter 2010 results yesterday. Here’s what we’re hearing (these numbers reflect Q4 market share in the broker channel only):

  • FirstLine is back on top, with the #1 share (~16%) of broker business in the 4th quarter.
  • Scotia fell back to 2nd place in Q4, although it did do the most volume in the broker channel in 2010.
  • First National and TD finished 2010 in 3rd and 4th place respectively, with each losing share overall.
  • MCAP remained in 5th, with little change in share.
  • The biggest movers in the top 10 were:
    • Street Capital, up two spots to rank 6th—posting impressive 65% volume growth in 2010. Street has an exceptional reputation for service and is strong at creating broker relationships (just make sure you send them a deal here and there or you’ll get cut off).
    • Macquarie Financial and ING Direct each fell a few spots to 7th and 9th respectively.
  • Merix moved up one rank to #8. Almost no one could touch their 3-year deal in the fall.
  • National Bank broke into the top 10 for the first time, with a 48.5% volume increase in 2010. That’s not surprising. National’s broker status program is second to none, its rates are strong, its products are flexible, and it’s been diligently working to improve underwriting efficiency. Moreover, the All-in-One is easily the most powerful readvanceable mortgage in the market.
  • Coast Capital, a BC credit union, posted 2010 volume gains of 118%, on the back of exceptional rates and unique mortgages (like the You’re the Boss mortgage).

The above figures are from industry sources. They are not confirmed but are believed accurate.

Rob McLister, CMT