Home Topics Real Estate Here are the top 10 mortgage lenders for 2020

Here are the top 10 mortgage lenders for 2020

The release of the 2020 Home Mortgage Disclosure Act data shows a surge in growth in mortgage lending. One lender saw more than 340 percent year-over-year growth.

The past year has been unprecedented in many ways, including the surge in mortgages demand powered by extremely low interest ratesThis is driving the growth of the top mortgage lenders even further.

As consumers flooded the market to buy a home or to refinance their mortgage, some lenders stood out from the rest when they assumed record levels of mortgage origination.

Some of the top lenders of 2020 will be known, however, their volumes are significantly higher than the volumes recorded End of 2019. One mortgage lender saw year-over-year growth of more than 340 percent. In fact, as the volume of mortgage lending increased and lenders went public, multiple mortgage lenders made the list from Forbes billionaires for the first time this year.

This year, the Consumer Financial Protection Bureau collected Home Mortgage Disclosure Act data from approximately 4,400 filers.

“HMDA data can help determine whether financial institutions are meeting the housing needs of their communities and can better encourage public sector investment, thereby attracting private investment to areas where it is needed,” said Dave Uejio, acting director the CFPB, with the publication of the data.

Based on this data, iEmergent identified the largest mortgage lenders in terms of volume without multi-family loans. The analysis includes single-family houses with 1 to 4 residential loans as well as prefabricated houses.

Here is a breakdown of the top 10 originators as of 2020 by the total amount of home purchase and refinancing loans:

10. US Bank – $ 58.09 billion

  • Total origins: 180,261
  • Average Loan Size: $ 322,266
  • Percent volume increase from 2019: 43.4 percent

9. Fairway Independent Mortgage Corp. – $ 64.96 billion

  • Total origins: 228,154
  • Average Loan Size: $ 284,709
  • Percent volume increase from 2019: 104.4 percent

8. Caliber Home Loans – $ 70.6 billion

  • Total origins: 228,633
  • Average Loan Size: $ 308,796
  • Percent volume increase from 2019: 134.4 percent

7. Bank of America – $ 76.91 billion

  • Total Origins: 184,088
  • Average Loan Size: $ 417,805
  • Percent volume reduce from 2019: 22.1 percent

6. JPMorgan Chase – $ 95.62 billion

  • Total Origins: 224,833
  • Average Loan Size: $ 425,306
  • Percent volume increase from 2019: 2.4 percent

5. Freedom Mortgage Corp. – $ 99.24 billion

  • Total origins: 389,146
  • Average Loan Size: $ 255,008
  • Percent volume increase from 2019: 344.3 percent

4. Loan Deposit – $ 100.53 billion

  • Total Origins: 294,466
  • Average Loan Size: $ 341,392
  • Percent volume increase from 2019: 121.2 percent

3. Wells Fargo – $ 126.9 billion

  • Total Origins: 319,429
  • Average Loan Size: $ 397,280
  • Percent volume reduce from 2019: 8.8 percent

2. United Wholesale Mortgage – $ 182.82 billion

  • Total origins: 560,796
  • Average Loan Size: $ 326,001
  • Percent volume increase from 2019: 69.4 percent

1. Rocket Mortgage – $ 313.41 billion

  • Total origins: 1.14 million
  • Average Loan Size: $ 274,288
  • Percent volume increase from 2019: 121.3 percent

The data shows that non-bank lenders continue to increase their market share while banks no longer focus on mortgages. Bank of America and Wells Fargo, which were still in the top 10, both saw their lending volumes fall from 2019, and JPMorgan Chase rose just 2.4 percent.

Rocket Mortgage has once again established itself as the number 1 mortgage lender in the US, and by a considerable margin. Rocket continues to dominate US mortgage lending, with more than $ 300 billion and a 121.3 percent year-over-year volume growth

Email Kelsey Ramírez

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