Date Published: August 2025
When you hear the phase Independent Mortgage Banker (IMB), you might think of them emerging in the last few decades. But here’s a surprise: IMBs have been around since the 1870s. That’s more than 150 years of navigating booms, busts and everything in between.
And not only have they survived — they’ve thrived.
A Look Back at Growth:
- In 2008, IMBs originated just 24% of single family mortgages.
- By 2016, they became the dominant lender segment in both purchase and refinance.
- Fast forward to 2018: 900+ IMBs made up only 18% of HMDA reporting companies — but originated a whopping 55% of all single-family mortgages. To be sure, we have had some casualties along the way so the total number of active IMB’s may be less in 2025 – but some of that can be attributed to acquisitions, which is a very active space right now.
That’s explosive growth in less than a decade.
Why It Matters Today
Now, IMBs are the primary source of single-family mortgage credit. They shine in purchase markets, adapt quickly when refis slow down, and step in when depository lenders scale back.
Their staying power shows us something important: IMBs are resilient, adaptable, and essential to a healthy, competitive mortgage industry. In fact, IMB’s make up 95% of MSA’s client base – and we like it that way. They’re more nimble, aggressive and flexible than most banks. In general, there’s a greater sense of urgency around recruiting with the IMB’s – absolutely critical in today’s roller coaster market.
Do you agree? Do you currently work at or for an IMB? Let us know your thoughts in the comments.
Independent Mortgage Bankers Fact Sheet
IMB Benefits and policy implications
Author: Bretta Watkins
