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Today we’ll take a look at who were the top mortgage lenders in Louisiana based on loan volume for the most recent year.
According to HMDA data, in 2021, more than 600 banks and lenders will obtain home loans worth about $39 billion in the Pelican State.
It was a good year for most lenders, but one company managed to outperform the rest of the pack quite easily.
And it was a hometown bank headquartered in the state, not a large national lender.
Read on to see who it was and check out a full list of the largest mortgage lenders in Louisiana.
Top Mortgage Lenders in Louisiana (Overall)
| Category | company’s name | 2021 loan amount |
| 1. | gmfs | $2.7 billion |
| 2. | rocket hostage | $1.8 billion |
| 3. | pennymac | $1.5 billion |
| 4. | liberty mortgage | $1.2 billion |
| 5. | uwm | $1.1 billion |
| 6. | amerihome mortgage | $1.0 billion |
| 7. | First Horizon Bank | $978 million |
| 8. | home point | $933 million |
| 9. | hancock whitney | $932 million |
| 10. | assurance financial | $890 million |
As of 2020, GMFS Mortgage was the top mortgage lender in Louisiana with $2.7 billion funded, per HMDA data richie may,
The Baton Rouge-based lender was founded in 1999 and operates in only 12 states, mostly in the South.
They were behind overall #1 Rocket Mortgage with $1.8 billion, and SoCal-based PennyMac third with $1.5 billion.
Fourth and fifth went to Freedom Mortgage and United Wholesale Mortgage (UWM) with $1.2 billion and $1.1 billion, respectively.
The rest of the top ten included AmeriHome Mortgage, First Horizon Bank, HomePoint, Hancock Whitney Bank and Assurance Financial.
Overall, two of the top 10 lenders are Louisiana-based, GMFS Mortgage and Assurance Financial.
Top Mortgage Lenders in Louisiana (For Home Buyers)
| Category | company’s name | 2021 loan amount |
| 1. | gmfs | $1.3 billion |
| 2. | pennymac | $980 million |
| 3. | uwm | $647 million |
| 4. | amerihome mortgage | $626 million |
| 5. | assurance financial | $549 million |
| 6. | Nishtha Bank | $549 million |
| 7. | home point | $500 million |
| 8. | First Horizon Bank | $484 million |
| 9. | Gulf Coast Bank | $480 million |
| 10. | movement hostage | $439 million |
If we turn our attention to home purchase transactions only, GMFS mortgages are still in the lead, albeit by a smaller margin.
GMFS commits $1.3 billion to fund 2021 home purchases in Louisiana, followed by PennyMac with $980 million.
In third place with $647 million was UWM, a company that operates exclusively through the mortgage broker channel.
Fourth and fifth went to AmeriHome & Assurance Financial, with $626 million and $549 million funded.
Fidelity Bank (LA), HomePoint, First Horizon Bank, Gulf Coast Bank & Trust, and Movement Mortgage were ranked 6 to 10.
That brings the total of Louisiana-based lenders to four: GMFS, Assurance Financial, Fidelity Bank, Gulf Coast Bank and Trust.
It is not unusual that homegrown banks and lenders dominate the home purchase loan list.
Typically, home buyers will work with a local company they know well to ease their nerves.
Top Refinance Lenders in Louisiana (For Existing Homeowners)
| Category | company’s name | 2021 loan amount |
| 1. | rocket hostage | $1.4 billion |
| 2. | gmfs | $1.3 billion |
| 3. | liberty mortgage | $956 million |
| 4. | Follow | $521 million |
| 5. | pennymac | $491 million |
| 6. | uwm | $473 million |
| 7. | hancock whitney | $461 million |
| 8. | First Horizon Bank | $457 million |
| 9. | loandepot | $434 million |
| 10. | home point | $433 million |
Now let’s talk about Refice. Existing homeowners care less about working with local banks and lenders.
After all, they are simply adjusting the rate/tenure of their loan, as opposed to financing the home purchase.
This may explain why Rocket Mortgage took the top spot with $1.4 billion in funding, followed by GMFS with $1.3 billion in ref volume.
In third place was VA loan specialist Freedom Mortgage with $1.3 billion, followed by Chase and PennyMac with nearly half a billion each.
Others to land in the top-10 list include UWM, Hancock Whitney Bank, First Horizon Bank, LoanDepot and HomePoint.
As you can see, only one mortgage lender based in Louisiana made this list.
Top Mortgage Lenders in Baton Rouge
| Category | company’s name | 2021 loan amount |
| 1. | gmfs | $1.1 billion |
| 2. | assurance financial | $492 million |
| 3. | rocket hostage | $370 million |
| 4. | pennymac | $340 million |
| 5. | liberty mortgage | $283 million |
| 6. | uwm | $278 million |
| 7. | amerihome mortgage | $239 million |
| 8. | hancock whitney | $232 million |
| 9. | home point | $216 million |
| 10. | Follow | $189 million |
Top Mortgage Lenders in New Orleans
| Category | company’s name | 2021 loan amount |
| 1. | gmfs | $799 million |
| 2. | rocket hostage | $636 million |
| 3. | Gulf Coast Bank | $581 million |
| 4. | hancock whitney | $571 million |
| 5. | First Horizon Bank | $563 million |
| 6. | Nishtha Bank | $516 million |
| 7. | Follow | $469 million |
| 8. | pennymac | $443 million |
| 9. | amerihome mortgage | $419 million |
| 10. | uwm | $379 million |
Who Are The Best Louisiana Mortgage Lenders?
Biggest and best are not always synonymous. Just because a company does the most business doesn’t mean it’s the leader in customer service.
But sometimes both can co-exist. I usually check reviews on Zillow to see how lenders are rated by their customers.
With a 4.96/5-star rating on Zillow from nearly 500 customer reviews, GMFS Mortgage seems to be a big player and well-received in Louisiana.
Compare this to Rocket Mortgage’s 4.48/5, PennyMac’s 4.40, Freedom Mortgage’s 4.85/5, Assurance Financial’s 4.96/5 and Gulf Coast Bank’s 4.94/5.
Other local lenders listed on Zillow include the Metairie, LA branch of Movement Mortgage, rated 4.95/5, Shreveport, LA’s Draper & Kramer Mortgage (4.96/5), and Lafayette, LA’s Castile Mortgage Company (5/5).
There are many other lenders and individual mortgage brokers that operate in the state as well.
Take the time to see what’s available nearby and nationally, and be sure to compare service, mortgage rates and fees.
(picture: formulas none,
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