NEW YORK – Oct. 19, 2017 – Quicken Loans commands 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 that same year, 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
Source: “Here Are the Top 10 Lenders Dominating the Mortgage Market,” HousingWire (Oct. 11, 2017)
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