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Last year, Rocket Mortgage was the top mortgage lender in the nation, according to the latest HMDA data.
While this was not a huge surprise, as they have topped the leaderboard for many years, it was much closer than in previous years.
The Detroit-based nonbank lender beat out its crosstown rival United Wholesale Mortgage by just over $100 million.
A year ago, the difference between first and second place was over $100 billion!
So it’s possible that there could be a new #1 mortgage lender in 2023. Read on to see who else topped the lists.
Top Mortgage Lenders of 2022 (Overall)
| Category | company’s name | 2022 loan amount |
| 1. | rocket hostage | $128.9 billion |
| 2. | composite wholesale mortgage | $128.8 billion |
| 3. | Wells Fargo | $124.8 billion |
| 4. | Follow | $99.1 billion |
| 5. | pennymac | $71.7 billion |
| 6. | us bank | $67.5 billion |
| 7. | Bank of America | $56.4 billion |
| 8. | loandepot | $52.9 billion |
| 9. | truest | $48.4 billion |
| 10. | amerihome mortgage | $47.5 billion |
As mentioned, according to HMDA data, mortgages rocketed to come first in 2022 with home loans amounting to $128.9 billion. richie may,
That was enough to beat out Michigan-based UWM Pontiac, which has funded close to $128.8 billion.
And UWM did it solely by relying on Mortgage Broker Partners, while Rocket originates loans through retail and wholesale channels.
In third place with $124.8 billion was Wells Fargo, which recently announced plans to divest its home loan business.
In fourth place was NYC-based JPMorgan Chase, with assets of $99.1 billion. The company now owns First Republic Bank, one of the nation’s largest jumbo lenders.
SoCal-based PennyMac, which counts several former executives across the country as employees, took fifth place with $71.7 billion.
The bottom half of the top 10 includes US Bank, Bank of America, LoanDepo, Truist and AmeriHome Mortgage.
Collectively, about 4,300 banks and lenders are expected to finance about $3.35 trillion in home loans in 2022, which is significantly lower than in 2021.
For context, Rocket commits about $343 billion in 2021, while Wells and UWM usher in about $228 billion.
Freedom Mortgage, HomePoint and Newerz all dropped out of the top 10, while Bank of America, Truist and AmeriHome climbed.
Top Purchase Mortgage Lenders in 2022
| Category | company’s name | 2022 loan amount |
| 1. | composite wholesale mortgage | $91.8 billion |
| 2. | Wells Fargo | $78.8 billion |
| 3. | Follow | $60.1 billion |
| 4. | rocket hostage | $52.2 billion |
| 5. | pennymac | $49.1 billion |
| 6. | us bank | $46.5 billion |
| 7. | guaranteed rate | $38.7 billion |
| 8. | amerihome mortgage | $35.8 billion |
| 9. | fairway independent | $35.1 billion |
| 10. | truest | $33.2 billion |
If we only consider purchase loans that went to home buyers, UWM took top honors with $91.8 billion funded.
That was enough to beat second-place Wells Fargo’s $78.8 billion and third-place Chase’s $60.1 billion.
In fourth place was Rocket with $52.2 billion, followed by PennyMac with $49.1 billion, which are less of a household name because they often act as a correspondent for other mortgage companies.
The rest of the best in the buy category include US Bank, Chicago-based Guaranteed Rate, AmeriHome Mortgage, Fairway Independent Mortgage and Trueist.
Caliber Home Loans and Loandepot rounded out the top-10, while Amerihome and Truest became the biggest players.
Top Mortgage Refinance Lenders in 2022
| Category | company’s name | 2022 loan amount |
| 1. | rocket hostage | $74.2 billion |
| 2. | Wells Fargo | $40.4 billion |
| 3. | uwm | $37.0 billion |
| 4. | Follow | $33.9 billion |
| 5. | loandepot | $23.2 billion |
| 6. | Bank of America | $23.1 billion |
| 7. | pennymac | $22.6 billion |
| 8. | mr cooper | $19.0 billion |
| 9. | PNC Bank | $17.9 billion |
| 10. | us bank | $17.9 billion |
When it came to refinancing mortgages for existing homeowners, Rocket Mortgage was the undoubted king with $74.2 billion funded.
They nearly doubled their closest competitor, Wells Fargo, in this category, which only had $40.4 billion in refs.
In third place was UWM with $37 billion, followed by Chase with $33.9 billion and LonDepot with $23.2 billion.
Other refinancing leaders included Bank of America, PennyMac, Mister Cooper, PNC Bank and US Bank.
HomePoint, NewRage and Freedom Mortgage fell, while Bank of America, PNC and US Bank rounded out the top 10.
For the record, the recently failed First Republic Bank was the 13th largest refinance lender in the country, 14th in home purchase loans, and 12th largest mortgage lender overall.
Whether that pushes Chase one spot or more remains to be seen, but it’s certainly possible.
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