Prime Mortgage Lenders in 2022: Rocket Squeaks Previous UWM for #1 Spot

Final yr, Rocket Mortgage was the highest mortgage lender within the nation, per the newest HMDA knowledge.

Whereas that wasn’t a giant shock, as they’ve topped the leaderboard for a number of years now, it was quite a bit nearer than in years’ previous.

The Detroit-based nonbank lender narrowly beat out its crosstown rival United Wholesale Mortgage by solely roughly $100 million.

A yr earlier, the hole between first and second place was greater than $100 billion!

So it’s potential there could be a brand new #1 mortgage lender in 2023. Learn on to see who else topped the lists.

Prime Mortgage Lenders of 2022 (General)

Rating Firm Title 2022 Mortgage Quantity
1. Rocket Mortgage $128.9 billion
2. United Wholesale Mortgage $128.8 billion
3. Wells Fargo $124.8 billion
4. Chase $99.1 billion
5. Pennymac $71.7 billion
6. U.S. Financial institution $67.5 billion
7. Financial institution of America $56.4 billion
8. loanDepot $52.9 billion
9. Truist $48.4 billion
10. AmeriHome Mortgage $47.5 billion

As talked about, Rocket Mortgage got here in first once more in 2022 with $128.9 billion in dwelling loans funded, per HMDA knowledge from Richey Might.

That was simply sufficient to beat out Pontiac, Michigan-based UWM, which funded a really shut $128.8 billion.

And UWM did it by relying solely on mortgage dealer companions, whereas Rocket originates loans by way of the retail and wholesale channel.

Coming in an in depth third was Wells Fargo with $124.8 billion, which lately introduced plans to drag again on its dwelling mortgage enterprise.

In fourth was NYC-based JPMorgan Chase with $99.1 billion. The corporate now owns First Republic Financial institution, one of many largest jumbo mortgage lenders within the nation previous to its demise.

SoCal-based Pennymac, which counts a number of former Countrywide execs as workers, grabbed fifth with $71.7 billion.

The underside half of the highest 10 included U.S. Financial institution, Financial institution of America, loanDepot, Truist, and AmeriHome Mortgage.

Collectively, about 4,300 banks and lenders funded about $3.35 trillion in dwelling loans in 2022, down markedly from 2021.

For reference, Rocket did about $343 billion in 2021, whereas Wells and UWM originated about $228 billion every.

Freedom Mortgage, Homepoint, and Newrez all fell out of the highest 10, whereas Financial institution of America, Truist, and AmeriHome climbed in.

Prime Buy Mortgage Lenders in 2022

Rating Firm Title 2022 Mortgage Quantity
1. United Wholesale Mortgage $91.8 billion
2. Wells Fargo $78.8 billion
3. Chase $60.1 billion
4. Rocket Mortgage $52.2 billion
5. Pennymac $49.1 billion
6. U.S. Financial institution $46.5 billion
7. Assured Fee $38.7 billion
8. AmeriHome Mortgage $35.8 billion
9. Fairway Unbiased $35.1 billion
10. Truist $33.2 billion

If we contemplate solely buy loans, those who went to dwelling consumers, UWM took high honors with $91.8 billion funded.

That was greater than sufficient to beat out second place Wells Fargo’s $78.8 billion and third place Chase’s $60.1 billion.

In fourth was Rocket with $52.2 billion, adopted by Pennymac with $49.1 billion, which is much less of a family title as a result of they typically act as a correspondent for different mortgage corporations.

The remainder of the very best within the buy class included U.S. Financial institution, Chicago-based Assured Fee, AmeriHome Mortgage, Fairway Unbiased Mortgage, and Truist.

Caliber Dwelling Loans and loanDepot fell out of the top-10, whereas AmeriHome and Truist joined the most important gamers.

Prime Mortgage Refinance Lenders in 2022

Rating Firm Title 2022 Mortgage Quantity
1. Rocket Mortgage $74.2 billion
2. Wells Fargo $40.4 billion
3. UWM $37.0 billion
4. Chase $33.9 billion
5. loanDepot $23.2 billion
6. Financial institution of America $23.1 billion
7. Pennymac $22.6 billion
8. Mr. Cooper $19.0 billion
9. PNC Financial institution $17.9 billion
10. U.S. Financial institution $17.9 billion

When it got here to mortgage refinances for current owners, Rocket Mortgage was unquestionably the king with $74.2 billion funded.

They almost doubled their nearest rival on this class, Wells Fargo, which mustered simply $40.4 billion in refis.

In third was UWM with $37 billion, adopted by Chase with $33.9 billion and loanDepot with $23.2 billion.

Different refinance leaders included Financial institution of America, Pennymac, Mr. Cooper, PNC Financial institution, and U.S. Financial institution.

Homepoint, Newrez, and Freedom Mortgage fell out, whereas Financial institution of America, PNC, and U.S. Financial institution joined the highest 10.

For the file, lately failed First Republic Financial institution was the thirteenth largest refinance lender within the nation, 14th in dwelling buy lending, and the twelfth largest mortgage lender total.

Whether or not that pushes Chase up a spot or extra stays to be seen, but it surely’s definitely potential.

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