How The Loan Store doubled volume in a crowded wholesale market

HousingWire
Published: December 23, 2025
Pricing & Profitability

Summary

This article discusses The Loan Store's (TLS) rapid growth in the wholesale mortgage market and their strategy of focusing on non-qualified mortgages (non-QMs). Hosts can learn from their approach to building a resilient business, focusing on profitability and customer experience rather than solely chasing market share.

Key Insights

  • TLS is the largest delivery partner for three major non-QM investors, enabling it to pursue exceptions, which can represent up to 40% of non-QM loans.
  • TLS doubled its origination volume to $8.2 billion in the first nine months of 2025 compared to the same period in 2024.
  • TLS aims to close $1 billion per month in non-QM volume.

Action Items

  • Consider focusing on profitability and sustainability across market cycles, rather than solely pursuing growth in market share.
    Effort: low
    Impact: medium

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