Here are the top 10 mortgage lenders of 2019

Here are the top 10 mortgage lenders of 2019
The Consumer Financial Protection Bureau released its annual report on Home Mortgage Disclosure Act data on June 24 with reports from 5,496 financial institutions.

The report stated banks collectively originated 32.4% of all reported originations in 2019 with 2.6 million loans. Credit unions followed with 714,000 loans making up 8.8% of originations. Independent mortgage companies took the lion’s share in 2019, originating 4.4 million loans. That accounts for 54.5% of all reported loans.  

Overall, the top 25 lenders accounted for 37.2% of all loan originations in 2019, a slight increase from 33.8% in 2018’s report.

“These same firms also provided additional funding by purchasing approximately 922,000 loans from other lending institutions during 2019 (these loans could have been originated prior to 2019), equal to 44.5% of total purchased loans,” the CFPB said. 

Here is a breakdown of the top 10 originators from 2019 by total amount of home purchase and refinance loans:

10 – U.S. Bank  

Total Originations – 94,000Number of home purchase loans – 62,000Number of refinance loans – 41,000

9 – Freedom Mortgage

Total Originations – 110,000Number of home purchase loans – 71,000Number of refinance loans – 82,000

8 – Bank of America 

Total Originations – 134,000Number of home purchase loans – 62,000Number of refinance loans – 59,000

7 – Caliber Home Loans 

Total Originations – 136,000Number of home purchase loans – 71,000Number of refinance loans – 52,000

6 – loanDepot

Total Originations – 146,000Number of home purchase loans – 52,000Number of refinance loans – 81,000

5 – Fairway Independent Mortgage

Total originations – 147,000Number of home purchase loans – 94,000Number of refinance loans – 33,000

4 – JPMorgan Chase

Total originations – 186,000Number of home purchase loans – 65,000Number of refinance loans – 80,000

3 – Wells Fargo

Total originations – 232,000Number of home purchase loans – 112,000Number of refinance loans – 92,000

2 – United Wholesale Mortgage

Total originations – 339,000Number of home purchase loans – 152,000Number of refinance loans – 160,000

1 – Quicken Loans

Total originations – 541,000Number of home purchase loans – 134,000 Number of refinance loans – 381,000

UWM surpassed Wells Fargo for the No. 2 spot in terms of total originations, after reporting 339,00 total originations in 2019 – a jump from the 146,000 it reported in 2018. Fairway Independent Mortgage also rose one spot to No. 5 on the list with 147,000 total originations in 2019 versus 110,000 in 2018.

Freedom Mortgage saw a significant gain after it rose from No. 14 in 2018 with 58,000 total originations, to the No. 9 in 2019 with 110,000 total originations.
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