Tuesday, March 28, 2023
HomeMortgageHigh Mortgage Lenders in Arizona

High Mortgage Lenders in Arizona

In the event you’re curious who the highest mortgage lenders in Arizona are, you’ve come to the best place.

I’ve compiled a number of top-10 lists for general quantity, house buy quantity, and refinance quantity.

Apparently, a wholesale mortgage lender really topped the general record in 2021 (the most recent yr accessible).

That’s spectacular given the truth that wholesale lenders solely work with mortgage brokers, versus retail lenders which might be consumer-facing.

Anyway, the lender in query was United Wholesale Mortgage, or UWM for brief, with a stable $12.1 billion. Learn on to search out out who the opposite massive gamers had been.

High Mortgage Lenders in Arizona (Total)

Rating Firm Title 2021 Mortgage Quantity
1. United Wholesale Mortgage $12.1 billion
2. Rocket Mortgage $11.5 billion
3. Chase $6.6 billion
4. Fairway Unbiased $6.3 billion
5. loanDepot $5.4 billion
6. Wells Fargo $5.4 billion
7. Nova Residence Loans $4.8 billion
8. U.S. Financial institution $4.8 billion
9. Freedom Mortgage $4.0 billion
10. Pennymac $3.8 billion

As famous, UWM topped the charts within the Copper State with over $12 billion in house mortgage quantity, beating out its crosstown rival Rocket Mortgage, per HMDA information from Richey Could.

Rocket mustered an additionally spectacular $11.5 billion in house mortgage origination quantity, beating out third place Chase’s $6.6 billion fairly simply.

Additionally within the high 5 had been Fairway Unbiased Mortgage with $6.3 billion, and loanDepot with $5.4 billion.

The remainder of the top-10 additionally consisted of huge nationwide mortgage manufacturers, apart from Nova Residence Loans, which is definitely an unbiased mortgage banker primarily based in Arizona.

They got here in seventh with a wholesome $4.8 billion in mortgage quantity, beating out U.S. Financial institution, Freedom Mortgage, and Pennymac.

Wells Fargo snagged sixth place with $5.4 billion, fairly robust regardless of ongoing headwinds on the firm.

High Mortgage Lenders in Arizona (for Residence Buy Loans)

Rating Firm Title 2021 Mortgage Quantity
1. UWM $4.2 billion
2. Fairway Unbiased $3.8 billion
3. U.S. Financial institution $2.9 billion
4. Chase $2.8 billion
5. Nova Residence Loans $2.3 billion
6. Wells Fargo $2.1 billion
7. loanDepot $2.1 billion
8. Rocket Mortgage $1.9 billion
9. Lakeview Mortgage Servicing $1.5 billion
10. VIP Mortgage $1.4 billion

Now let’s flip our consideration to house buy lending, which has turn into all the fad since mortgage charges virtually doubled.

The highest Arizona mortgage lender for house buy loans was additionally UWM with $4.2 billion funded.

This time they held off second place Fairway Unbiased Mortgage, which originated a decent $3.8 billion in State 48.

Coming in third was depository U.S. Financial institution with $2.9 billion, adopted by fellow financial institution Chase with $2.8 billion.

In fifth was Arizona’s very personal Nova Residence Loans with $2.3 billion. In the event you stay there, you’ve undoubtedly seen their many billboards alongside the freeway.

Others within the high 10 included Wells Fargo, loanDepot, Rocket Mortgage, Lakeview Mortgage Servicing, and one other Arizona-based mortgage lender, VIP Mortgage.

This is a crucial record to look at for 2022 because the market shifts to buy vs. refinance lending.

Those that stay on it will likely be the winners within the mortgage area in what in any other case may be a troublesome yr.

High Mortgage Lenders in Arizona (for Residence Refinance Loans)

Rating Firm Title 2021 Mortgage Quantity
1. Rocket Mortgage $9.5 billion
2. UWM $8.0 billion
3. Chase $3.6 billion
4. Freedom Mortgage $3.5 billion
5. loanDepot $3.4 billion
6. Wells Fargo $3.1 billion
7. Nova Residence Loans $2.5 billion
8. Pennymac $2.5 billion
9. Fairway Unbiased $2.5 billion
10. Mr. Cooper $2.4 billion

Now let’s crown a king of refinance loans. In the event you guessed Rocket Mortgage, you received.

The nation’s primary mortgage lender did $9.5 billion in refis in Arizona final yr.

That was effectively above second place UWM’s $8 billion, and in a special galaxy than third place Chase’s $3.6 billion.

Nonbank lenders Freedom Mortgage and loanDepot took fourth and fifth, respectively, with $3.5 and $3.4 billion.

Others within the high 10 included repeats Wells Fargo, Nova Residence Loans, Pennymac, and Fairway Unbiased, together with Mr. Cooper (previously Nationstar).

So it seems the top-10 mortgage lenders in Arizona is pretty concentrated amongst a small group of huge names.

It’ll be attention-grabbing to see what this record appears to be like like for 2022.

Do You Have to Use One among Arizona’s Largest Mortgage Lenders?

Bear in mind, largest isn’t all the time finest, although it’s attainable for giant and finest to coexist.

In the end, it’ll come right down to your preferences and private expertise relying on your own home mortgage wants.

The highest mortgage lender in Arizona is UWM, which as famous, is a wholesale lender. This implies smaller brokerages resell their merchandise.

So it’s attainable to work with a small mom-and-pop store and nonetheless get your mortgage from the #1 lender within the state.

However it doesn’t actually matter how massive, small, or medium your lender is so long as they get the job finished and supply a aggressive price (and costs).

Simply take the time to discover the various choices accessible and collect greater than only one quote if you’d like the possibility to avoid wasting dough.

(photograph: Andy Atzert)



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