A sharp fall in a growing market
Its loans fell 30%, from 633 to 442. Similar lenders, independent non-bank lenders making between half and twice as many loans, grew 2%, and the whole market grew 10%. Its lending insured by the Federal Housing Administration (FHA) shrank faster than the rest, from 17.1% of loans to 9.7%. A lender can shrink by choice, dropping a product or a market, as well as by losing business; the figures do not say which happened here.