iEmergent releases 2024 HMDA insights: IMBs dominate, refinances rise, equity gaps persist

News Source: iEmergent

Data insights now available in Mortgage MarketSmart highlight rising refi activity, IMB dominance and persistent equity gaps

DES MOINES, Iowa, April 29, 2025 (SEND2PRESS NEWSWIRE) — iEmergent, a forecasting and advisory services firm for the financial services, mortgage and real estate industries, has released its analysis of 2024 Home Mortgage Disclosure Act (HMDA) data in Mortgage MarketSmart. The insights, shared by iEmergent CEO Laird Nossuli, highlight a modest market recovery from 2023 alongside deepening disparities in borrower outcomes and a reshuffling of lender dynamics.

Image caption: iEmergent.

TOP TAKEAWAYS FROM 2024 HMDA DATA:

Mortgage lending volume rebounded slightly, driven by a resurgence in refinancing.
In 2024, U.S. lenders originated a combined 4.9 million loans totaling $1.67 trillion in dollar volume across purchase and refi, up from $1.45 trillion in 2023. Refinances surged 63% by dollar volume to $393.7 billion and accounted for nearly a quarter (23.5%) of purchase and refi dollars, up from 16.7% in 2023.
Independent mortgage banks (IMBs) extended their lead.
IMBs originated 65.4% of all purchase and refinance loans in 2024, up from 61.3% in 2023. They also claimed 16 of the top 25 spots by dollar volume and 17 by loan count, underscoring their continued role as the primary engine of mortgage lending despite representing just 18% of reporting institutions.
Borrowers are taking out bigger loans, amplifying affordability concerns.
The average size of purchase and refinance loans grew in 2024, reaching $339,903 (up from $323,282 in 2023). Rising home prices and interest rates continue to widen the gap between what buyers can afford and what they must borrow.
Denial rates ticked up, with notable differences by lender type.
People of color households made up a growing share of applicants in 2024, but approval rates remained unequal. Black borrowers, for instance, faced an 18% denial rate for purchase loans compared to 9% for non-Hispanic white applicants. While banks and credit unions lowered their denial rates year over year, IMBs saw a slight increase—contributing to uneven outcomes, since IMBs originated the majority of loans. Debt-to-income (DTI) ratios remained the most common denial reason across all racial and ethnic groups.
Dominance by leading lenders continues to intensify.
The top five lenders accounted for nearly 20% of all loans and dollars originated in 2024, a notable uptick from 2023. This growing market concentration signals intensifying consolidation and competition among top-tier lenders.

“2024 brought modest recovery to the mortgage market, but also highlighted some of the structural inequities and concentration trends that shape lending outcomes today,” said Nossuli. “iEmergent’s Mortgage MarketSmart puts this data into context—geographically, demographically, and competitively—so lenders can find smarter ways to grow and serve their markets.”

LENDERS CAN NOW BENCHMARK PERFORMANCE AND PLAN FOR GROWTH

The integration of 2024 HMDA data into Mortgage MarketSmart allows lenders to benchmark their performance against peers across categories such as:

Purchase and refi loan volumes (units and dollars)
Borrower race and ethnicity
Loan type and size
Borrower income levels
Denial reasons by demographic group

With side-by-side comparisons of HMDA data, historical trends and forward-looking forecasts, Mortgage MarketSmart empowers lenders to identify gaps, meet Community Reinvestment Act (CRA) obligations and reach underserved markets.

To explore 2024 HMDA insights in Mortgage MarketSmart, request a demo at https://www.iemergent.com/.

About iEmergent

Founded in 2000, iEmergent provides mortgage lending forecasts and analytics to the lending, housing and real estate industries. The company offers an extensive variety of forecast and market intelligence products, including Mortgage MarketSmart, a visualization tool that helps lenders quantify how mortgage markets will change. For more information, visit https://www.iemergent.com/.

Tags: @iEmergent #HMDA #housing #mortgage #data

Media Kit (PDF):
https://www.iemergent.com/docs/default-source/default-document-library/presskit_digitallinked.pdf

This press release was issued on behalf of the news source (iEmergent), who is solely responsible for its accuracy, by Send2Press Newswire.

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