The global loan brokers market revenue was around US$ 336 billion in 2023 and is estimated to reach US$ 1,248 billion by 2032, growing at a compound annual growth rate (CAGR) of 15.7% during the forecast period from 2024 to 2032.
A loan broker is a mediator between a financial institution that provides loans that are secured with real estate and people interested in purchasing real estate who are required to borrow cash in the form of a loan to do so. The mortgage broker will function with both parties to get the person approved for the loan.
Market Driving Factors
Loan brokers save lots of effort and time for the borrowers in finding the proper lenders that provide a more suitable interest rate on loans. As loan brokers have daily contact with the lenders, they can discover the suitable lender and save client’s time. Moreover, they take care of all the paperwork associated with the loan. Additionally, the clients do not have to be concerned about all the legislative work associated with the loan which can be efficiently taken care of by the broker. Moreover, the customer can be relaxed about obtaining the best loan by employing a finance broker. Thus, this is one of the main driving factors of the market growth.
Increasing demand for various types of loans by clients such as personal loans, home loans, car loans, and others. Additionally, clients want the most suitable deals on these loans with the lowest possible interest. Thus, the demand for brokers is increasing in the market. Moreover, with the surging requirement for loans, the demand for brokers will also grow. Thus, these elements will offer major lucrative possibilities for market growth.
Loan brokers charge enormous commissions and fees which is expected to hinder the market growth.
Regional Analysis
In 2023, North America dominated the market in terms of the highest growth rate and is predicted to maintain its dominance during the forecast period. This can be attributed to the customer demand for mortgages in the region has been boosted owing to an increase in home buying during the pandemic and due to the lower interest rates, that have made refinances attractive. Furthermore, housing costs typically follow cyclical trends, and demand for finance brokers rose with enhanced macroeconomic variables. Additionally, lower interest rates, combined with declined unemployment and raised capital needs, have surged the housing market. Therefore, robust demand for loans and mortgages for which customers are hiring lending brokers to obtain good deals in loans in the region.
Segmentation Insights
Component Insight
The products segment is estimated to dominate the market in terms of shares. This is mainly because loan brokers assist borrowers in determining and communicating threats to make proper planning decisions and choose loan options that are appropriate for customers’ financial requirements and threat profiles. Furthermore, loan brokers provide products that can be configured to offer a client-specific assessment of the threat and return features of a certain portfolio and assist align loan options to a customer’s capacity for loss.
Application Insight
The home loans segment dominates the market in terms of the rate. This is mainly owing to that a home finance broker provides a broad range of loan choices from several various lenders. The greater the broker’s network and experience, the better the client’s possibility to acquire a home loan and interest rate that most suits their requirements. Moreover, another benefit of hiring a broker for getting a home loan is that it is subjected to a lower interest rate.
Prominent Companies
Segmentation Outline
The global loan brokers market segmentation focuses on the Component, Enterprise Size, Application, End User, and Region.
By Component
By Enterprise Size
By Application
By End User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL LOAN BROKERS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: LOAN BROKERS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL LOAN BROKERS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL LOAN BROKERS MARKET, BY COMPONENT
5.1 OVERVIEW
5.2 PRODUCTS
5.3 SERVICES
6 GLOBAL LOAN BROKERS MARKET, BY ENTERPRISE SIZE
6.1 OVERVIEW
6. 2 LARGE ENTERPRISES
6.3 SMALL AND MEDIUM-SIZED ENTERPRISES
7 GLOBAL LOAN BROKERS MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 HOME LOANS
7.3 COMMERCIAL AND INDUSTRIAL LOANS
7.4 VEHICLE LOANS
7.5 LOANS TO GOVERNMENTS
7.6 OTHERS
8 GLOBAL LOAN BROKERS MARKET, BY END USER
8.1 OVERVIEW
8.2 BUSINESSES
8.2.1 COMMERCIAL LOAN BROKERS
8.2.2 STARTUP LOAN BROKERS
8.2.3 INVOICE FACTORING BROKERS
8.2.4 EQUIPMENT FINANCING BROKERS
8.3 INDIVIDUALS
9 GLOBAL LOAN BROKERS MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL LOAN BROKERS MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 PENNYMAC LOAN SERVICES LLC
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 WELLS FARGO
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 FLAGSTAR BANK
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 JPMORGAN CHASE & CO.
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 LENDINGTREE LLC
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 ALLY FINANCIAL INC.
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 MORTGAGE CHOICE PTY LIMITED
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8 THE PNC FINANCIAL SERVICES GROUP INC
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 MACQUARIE GROUP LIMITED
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 ROCKET MORTGAGE LLC
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 MONEYPARK
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 CALIBER HOME LOANS INC.
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 BANK OF AMERICA CORPORATION
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 LOANDEPOT.COM LLC
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 LAGRAY FINANCE
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.16 HYPOMO
11.16.1 OVERVIEW
11.16.2 FINANCIAL PERFORMANCE
11.16.3 PRODUCT OUTLOOK
11.16.4 KEY DEVELOPMENTS
11.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.17 INTERACTIVE BROKERS LLC
11.17.1 OVERVIEW
11.17.2 FINANCIAL PERFORMANCE
11.17.3 PRODUCT OUTLOOK
11.17.4 KEY DEVELOPMENTS
11.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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