The number of loans originated by independent mortgage companies has increased significantly over recent years. In 2019, these lenders originated more than half—or 56.4%--of first-lien, owner-occupied home purchase loans, up from 35% in 2010, according to a report released this month from the Consumer Financial Protection Bureau. Independent mortgage companies also originated more than half—58.1%--of first-lien, owner-occupied refinance loans.
Banks originated 2.6 million, or 32.4%, of all originations in 2019, and credit unions followed at 714,000, or 8.8%, of originations, the report shows.
The following lenders completed the most mortgage originations in 2019, according to the report:
- Quicken Loans: 541 (total originations in thousands)
- United Shore Financial Services LLC: 339
- Wells Fargo Bank: 232
- JPMorgan Chase Bank: 168
- Fairway Independent Mortgage Corporation: 147
- Loandepot.com LLC: 146
- Caliber Home Loans Inc.: 136
- Bank of America: 134
- Freedom Mortgage Corporation: 110
- U.S. Bank National Association: 94
- Guaranteed Rate Inc.: 86
- Guild Mortgage Company: 85
- Nationstar Mortgage LLC: 84
- Flagstar Bank: 75
- Movement Mortgage LLC: 69
Source: “Data Point: 2019 Mortgage Market Activity and Trends,” Consumer Financial Protection Bureau (June 2020)
