These mortgage producers spanned across multiple different lenders, and each had their own unique take on the industry. From the top 25 alone, there were over $101 billion in loan amounts originated by these lenders.
The list of the top 25 mortgage producers was dominated by two major players that had a significant share of the market - Quicken Loans and Caliber Home Loans. Quicken Loans represented nearly half of the total loan amount produced from the top 25, coming in first place with $40.5 billion in origination volume for the year. Caliber Home Loans followed in second place with $23.7 billion in loan amounts originated.
Most of the other lenders listed in the top 25 mortgage producers for 2020 also had significant loans produced. United Wholesale Mortgage had $21.6 billion in loan amounts originated, while LoanDepot had $14.3 billion. Other major players included Fairway Independent Mortgage, Freedom Mortgage, PrimeLending, Guild Mortgage, and Carrington Mortgage Services.
Smaller independent and regional lenders also made up a portion of the list. Companies like Ruoff Home Mortgage, American Financial Resources, and PHH Mortgage all generated significant volumes as well.
In terms of geographic focus, the top mortgage producers were concentrated heavily in the East and Southwest regions of the United States. Quicken Loans and Caliber Home Loans led the way in the Southeast and Southwest respectively, while UWM and LoanDepot both held sizable shares in the Midwest.
Overall, the top mortgage producers of 2020 showed just how competitive the market has become. These lenders, ranging from the largest national companies to smaller regional ones, have a good understanding of their respective markets and are able to produce significant volumes of loans in a relatively short period of time.
Analysis:
The top 25 mortgage producers in the US for 2020, as reported by National Mortgage News, were a combination of both large and small players in the industry. Quicken Loans and Caliber Home Loans were the two largest lenders at the top of the list, with $40.5 billion and $23.7 billion in loan origination volumes respectively. These two companies, along with United Wholesale Mortgage ($21.6 billion), LoanDepot ($14.3 billion), and several smaller and regional lenders comprised the majority of the origination volume for the year.
The data indicates the geographic concentration of the top 25 lenders in 2020. Quicken Loans and Caliber Home Loans led the way in the southeastern United States and southwest respectively, while United Wholesale Mortgage and LoanDepot both had sizable shares in the Midwest. This distribution suggests that these lenders understand their local markets and can produce high volume of loans in a short amount of time.
Overall, the list of top mortgage producers for 2020 shows the increasingly competitive nature of the mortgage industry. With more lenders entering the market and gaining a foothold in certain areas, the rates of origination will continue to grow. While larger companies will likely remain at the top of the list, there is also room for smaller and regional lenders to make an impact and compete with the larger players.
This article was contributed on Nov 04, 2023
