Shrinking against the market
Its loans fell 20%, from 994, while similar lenders (independent non-bank lenders making between half and twice as many loans) rose 3% and the whole market rose 10%. Its change was lower than at about nine in ten of its peers. Its loans peaked at 1,223 in 2021 and fell to 742 in 2023 before a rebound. The figures give no reason for the fall. One possibility is its narrow base: a lender that makes only purchase loans, in 2 states and 5 metros, may feel a slowdown in home sales in a few Texas markets more than a broader rival would.