list of top 10 largest mortgage banks in The uSA Today

Today we are going to give you a list of top 10 largest mortgage banks in the US today. A few large companies control mortgages, the main players being government-backed: Freddie Mac and Fannie Mae. This is in part due to the large amount of debt that they have to buy back. However, private lenders have an almost staggering number.

top 10 largest mortgage banks in The us

Quicken loans

Wells Fargo

United Wholesale Mortgage

JPMorgan Chase

LoanDepot

PennyMac

US Bank

Freedom Mortgage

Homepoint

Newrez

1. quicken loans

A private lender that is not part of a large bank or other financial institution, Quicken Loans is the largest online lender in the country. The company served Wells Fargo with a large amount, receiving $ 342.7 million in loans.

2. Wells Fargo

Wells Fargo is the second largest lender by size, with $228.6 billion in loans. This bank is also no stranger to other types of loans, as it also makes a small number of small loans and private student loans.

3. United Wholesale Mortgage

The pricing is different from other competitors on this list. Specifically, it does not work directly with consumers. Instead, the lender focuses on providing wholesale loans to consumers. It does this at a high rate, as it provides $227 billion in mortgages.

4. JPMorgan Chase

Chase is the fourth largest private mortgage lender, having issued $205 billion in loans. The bank acquired Washington Mutual, along with other smaller lenders, in the late 2000s, and thus the outstanding debt owed to those companies.

5. LoanDEpot

loanDepot is a large lender that offers home loans throughout the United States. The company is based in California and has been around since 2010. It is actually an entirely online service, which is increasingly common in today’s world. loanDepot has lent $136.7 billion.

6. Penny Mac

PennyMac was founded in 2008, initially with the aim of managing problem loans rather than creating new ones, making it the smallest company on this list. The Moorpark, Calif.-based company lends to consumers online and over the phone instead of a branch office, and made it to $124.7 billion.

7. us Bank

In the former Midwest Regional Banking Association, US Bank is the seventh largest bank in the country. US banks issued $115.6 billion in mortgages. The company also has a large branch bank that offers checking accounts, savings accounts and more.

8. Freedom Mortgage

Freedom Mortgage, which has been in business since 1990, is the eighth lender on our list. The company has issued $ 113.1 billion in home loans, which, although it is less known than Quicken or Wells Fargo, it is well placed in the upper echelon of lenders in the country.

9. Homepoint

Homepoint is a full-service lender that provides financing to both buyers and sellers. Like Quicken and Depot Loans, Homepoint is an online-only lender. According to HMDA data, it borrowed $96.2 billion in mortgages.

10. Newrez

Rounding out our list is Newrez, another online-only lender that has become a major player in the United States. In fact, total lending is second only to Homepoint at $92.9 billion.