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Top cost-effective retail lenders produce loans at half the industry average: Freddie Mac

The average cost for a retail mortgage lender to originate a loan reached $11,600 in the third quarter of 2023, up 35% — or nearly $3,000 per loan — when compared to fourth-quarter 2020, a period of low interest rates and high sales volume, according to a study published Tuesday by Freddie Mac.    

But the study also shows that top cost-effective retail lenders can produce loans at nearly half the cost of the industry average. Across the top 25% most efficient lenders, the average cost to originate a loan was $6,900 in Q3 details ⇒

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