Quicken Loans is commanding the largest share of the mortgage market, according to 2016 data recently released by the Federal Financial Institutions Examination Council. But Wells Fargo boasts the highest origination dollar volume at $126 billion in 2016, compared to Quicken Loans’ $90.6 billion.
iEmergent, which compiled the data, calculated the top mortgage lenders by looking at the number of purchase and refinance loans originated. The following are the top seven lenders that dominated mortgage originations in 2016, ranked by the total number of mortgages each originated.
1. Quicken Loans: 436,289
- Share of total loans: 5.7%
- Rank in total dollar volume: 2
- Total origination volume: $90.6 billion
2. Wells Fargo Bank: 393,568
- Share of total loans: 5.2%
- Rank in total dollar volume: 1
- Total origination volume: $126 billion
3. JPMorgan Chase Bank: 173,702
- Share of total loans: 2.3%
- Rank in total dollar volume: 3
- Total origination volume: $74 billion
4. Bank of America: 152,811
- Share of total loans: 2%
- Rank in total dollar volume: 4
- Total origination volume: $58.1 billion
5. Freedom Mortgage Corp.: 152,017
- Share of total loans: 2%
- Rank in total dollar volume: 6
- Total origination volume: $31.8 billion
6. loanDepot: 132,440
- Share of total loans: 1.7%
- Rank in total dollar volume: 5
- Total origination volume: $35.7 billion
7. U.S. Bank: 108,171
- Share of total loans: 1.4%
- Rank in total dollar volume: 7
- Total origination volume: $28.6 billion
View the full top 10 list at HousingWire.
Source: “Here Are the Top 10 Lenders Dominating the Mortgage Market,” HousingWire (Oct. 11, 2017)
