A small purchase lender
Purchases made up 96.3% of its loans and refinancing 3.7%; every loan was conventional, with no government backing. It made 29 loans in 2023, 40 in 2024 and 27 in 2025. The 32% drop in 2025 was steeper than the 14% fall at similar lenders (lenders of the same type making between half and twice as many loans), whose typical member made 32.