2022 America’s Top 25 Mortgage Lenders

Mortgage News April 18, 2023

Rocket Mortgage managed to retain its position as the top home lender in the country in 2022, but just barely. Based on the Home Mortgage Disclosure Act (HMDA) data compiled by iEmergent, Rocket originated $127.58 billion in home loans, beating United Wholesale Mortgage by only about $63.5 million, which is equivalent to less than a day’s worth of business.

The Consumer Financial Protection Bureau (CFPB) collected data comprised of first and second lien originated loans for one-to-four family homes that are occupied. However, this data does not take into account multifamily or correspondent loans. The data reveals that Rocket managed to surpass United Wholesale Mortgage (UWM) in loan volume as it provides home improvement loans, which UWM does not. iEmergent’s analysis shows that Rocket originated $1 billion in home improvement loans in 2022, and this made all the difference in the comparison.

However, if we only consider purchase and refinance mortgages, UWM outperformed Rocket in terms of the dollar amount, originating $127.51 billion as compared to Rocket’s $124.33 billion. In terms of the total number of mortgages originated, Rocket led the way with 447,118 overall, while UWM managed 348,415.

In terms of loan volume, Wells Fargo secured the third position on the home lending leaderboard, generating $65.74 billion through 142,258 loans. However, it is important to note that this data does not take into account correspondent mortgage loans that Wells Fargo purchased. The fourth and fifth positions, in terms of volume, were secured by JPMorgan Chase, which produced $54.25 billion through 109,882 loans, and Bank of America, which produced $52.60 billion through 121,451 loans, respectively. LoanDepot secured the sixth position by originating $52.53 billion through 156,126 loans, according to the HMDA data.

According to the data provided by the CFPB, U.S. Bank, Fairway, First Republic Bank, and CrossCountry completed the top 10 in terms of loan volume

Although Guaranteed Rate itself produced $31 billion in loans in 2022, if HMDA took into account its collaborations with real estate brokerages and homebuilders like Guaranteed Rate Affinity, Origin Point, Proper Rate, and KBHS, it would have made it into the top 10.

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