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Non-bank lenders grab a market share: winner circle.

With a lot of market consolidation and exits from lending and origination by banks, non-banks step in. Based on the last comparison of remaining market originators, UWM and PennyMac grabbed an additional 2.5% percent market share on the 40% down market to only fall 10-15% on volume.

This tells me that these non-banks will definitely survive the origination downturn and would explode in growth on the next wave of originations. If you would invest in UWM 2 years ago before rate hikes, you would make over 20% return.

Great job Mat Isbia and David A. Spector.
Welcome to the winner circle!

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