Just like the 12 months earlier than, United Wholesale Mortgage (UWM) was the highest mortgage lender in 2024.
It marked their second 12 months as the highest canine, beating out their crosstown rival Rocket Mortgage but once more.
Rocket had been #1 within the nation since 2018 earlier than ceding its result in UWM, which works solely with mortgage brokers.
And it wasn’t very shut final 12 months both, with UWM originating practically $140 billion and Rocket mustering about $92 billion.
Learn on to see who else cracked the top-10 record general, in addition to in classes like house buy loans and refinance loans.
The Largest Mortgage Lenders of 2024 (Total)
| Rating | Firm Identify | 2024 Mortgage Quantity |
| 1. | United Wholesale Mortgage | $137.8 billion |
| 2. | Rocket Mortgage | $92.2 billion |
| 3. | CrossCountry | $39.3 billion |
| 4. | Chase | $37.5 billion |
| 5. | U.S. Financial institution | $26.0 billion |
| 6. | Price | $24.3 billion |
| 7. | DHI Mortgage | $24.0 billion |
| 8. | Fairway Impartial | $23.6 billion |
| 9. | Financial institution of America | $23.3 billion |
| 10. | Veterans United | $23.2 billion |
Greater than 4,600 banks, direct lenders, wholesalers, and credit score unions originated practically $1.3 trillion in house loans final 12 months.
As famous, UWM took #1 once more as they did in 2023, and much like the 12 months earlier than, by a large margin.
It wasn’t very shut and was by no means actually in query, with the Pontiac, Michigan-based wholesale lender originating roughly $140 billion, per newly launched HMDA information.
Rival Rocket Mortgage was solely capable of originate about $92 billion, per figures compiled by Richey Might.
Word that these numbers are complete mortgage quantity and solely embrace mortgages instantly originated by way of the retail, client direct, or wholesale channels.
They don’t embrace correspondent mortgage purchases, an area dominated by Pennymac, Freedom Mortgage, and AmeriHome, Newrez, and Logan Finance.
Coming in third general was CrossCountry Mortgage, which has additionally been making huge waves within the mortgage trade.
The Cleveland-based lender grew by way of its partnership with the now shuttered Costco Mortgage program.
Taking the fourth spot was Chase, which swallowed up jumbo lender First Republic in 2023, and Minneapolis-based U.S. Financial institution.
The remainder of the most effective included Assured Price (now recognized merely as Price), DHI Mortgage, Fairway Impartial Mortgage, Financial institution of America, and Veterans United House Loans.
Prime House Buy Mortgage Lenders of 2024
| Rating | Firm Identify | 2024 Mortgage Quantity |
| 1. | United Wholesale Mortgage | $96.3 billion |
| 2. | Rocket Mortgage | $50.0 billion |
| 3. | CrossCountry | $33.9 billion |
| 4. | Chase | $29.1 billion |
| 5. | DHI Mortgage | $24.0 billion |
| 6. | Fairway Impartial | $21.5 billion |
| 7. | Price | $21.0 billion |
| 8. | Guild Mortgage | $20.3 billion |
| 9. | Lennar Mortgage | $20.0 billion |
| 10. | U.S. Financial institution | $19.6 billion |
If we focus merely on house buy lending, which grabbed a large 78% share of general house mortgage quantity final 12 months, UWM was once more tops with $96 billion funded.
Once more, very spectacular as a result of they work solely with mortgage brokers and don’t have any retail operations.
Nevertheless, they do run Mortgage Matchup, which is a consumer-facing mortgage dealer listing to get owners matched up with a dealer.
In second was Rocket with about $50 billion, which could clarify why they’re buying Redfin to snag extra buy lending enterprise.
Their shortfall within the buy mortgage class is definitely why UWM leapfrogged them in recent times, regardless of being refinance specialists.
In third was CrossCountry Mortgage, adopted by Chase, after which DHI Mortgage, which is the captive lender for the nation’s prime house builder, D.R. Horton.
Currently, the house builders have been originating a ton of mortgages as a result of new builds have taken up a bigger market share of the house buy market attributable to a scarcity of stock.
And the house builder’s lender has been onerous to beat as a result of they provide huge mortgage fee buydowns that different lenders merely can’t compete with.
The remainder of the highest buy lenders included Fairway Impartial Mortgage, Price, Guild Mortgage, Lennar Mortgage (one other builder) and U.S. Financial institution.
Prime Mortgage Refinance Lenders of 2024
| Rating | Firm Identify | 2024 Mortgage Quantity |
| 1. | United Wholesale Mortgage | $41.6 billion |
| 2. | Rocket Mortgage | $39.8 billion |
| 3. | Freedom Mortgage | $11.7 billion |
| 4. | Pennymac | $8.8 billion |
| 5. | loanDepot | $6.6 billion |
| 6. | Chase | $6.6 billion |
| 7. | U.S. Financial institution | $5.8 billion |
| 8. | Newrez | $5.4 billion |
| 9. | Mr. Cooper | $5.0 billion |
| 10. | CrossCountry | $5.0 billion |
Now let’s try the highest refinance lenders of 2024, which have struggled of late as a result of mortgage charges are not tremendous low cost.
Nonetheless, they mustered about $370 billion in refinance loans through the 12 months, because of each cash-out refinances and an uptick in fee and time period refinance loans when charges dropped round August and September.
Considerably surprisingly, UWM additionally beat Rocket on this class, although simply barely with $42 billion versus $40 billion.
And Rocket closed much more refinance loans, with 147,000 models in comparison with UWM’s 108,000 complete.
Freedom Mortgage, which focuses on refis of FHA loans and VA loans, got here in third with $11.7 billion funded.
They had been adopted by Pennymac (the correspondent chief) and loanDepot, which is an enormous family title and main sponsor of Main League Baseball (MLB).
Others within the prime ten included Chase, U.S. Financial institution, Newrez, Mr. Cooper (quickly to be owned by Rocket), and CrossCountry Mortgage.
So this could make it clear why Rocket is buying Mr. Cooper. To originate extra refinances and take again their lead on this class.
Their different acquisition of Redfin is predicted to bolster their house buy lending. Taken collectively, they need to return to #1 except UWM pulls off one thing spectacular.
However I wouldn’t count on Rocket to reclaim their crown till the 12 months 2026, as these acquisitions are nonetheless pending and gained’t shut for a while.
(photograph: Marcin Wichary)
Earlier than creating this web site, I labored as an account government for a wholesale mortgage lender in Los Angeles. My hands-on expertise within the early 2000s impressed me to start writing about mortgages 19 years in the past to assist potential (and current) house patrons higher navigate the house mortgage course of. Comply with me on X for warm takes.