The Largest Mortgage Lenders in the U.S.
KEY POINTS
- Non-bank lenders dominate: Non-bank financial institutions make up 17 of the top 25 mortgage lenders in the U.S., highlighting their growing influence.
- United Wholesale leads: United Wholesale Mortgage is the largest U.S. mortgage lender, originating 366,078 mortgages worth $139.7 billion in 2024.
- Mortgage market expands: Mortgage originations increased by 8% in 2024, reflecting a broader trend of growing home loan activity.
United Wholesale Mortgage, Rocket Mortgage®, and CrossCountry Mortgage are the three largest mortgage lenders in the United States by loan originations -- and they're all non-bank lenders.
Non-bank financial institutions account for 17 of the 25 largest mortgage lenders, according to data from the Federal Financial Institutions Examination Council on mortgages given in 2024.
The top 25 mortgage lenders were responsible for 39% of all mortgages, up from 36% in 2023.
Read on for a deeper dive into the biggest mortgage companies.
Top 25 largest mortgage lenders by originations
The 10 largest mortgage lenders by loan origination volume
The 10 largest mortgage lenders by originations in 2024 are:
- United Wholesale Mortgage
- Rocket Mortgage®
- CrossCountry Mortgage
- Bank of America Mortgage
- Navy Federal Credit Union Mortgage
- JPMorgan Chase
- loanDepot
- Guild Mortgage
- U.S. Bank Mortgage
- Fairway Independent Mortgage
1. United Wholesale Mortgage
United Wholesale Mortgage is the largest mortgage company, originating 366,078 mortgages in 2024 worth $139.7 billion.
United Wholesale Mortgage went public in January 2022 via SPAC.
The company has faced and initiated litigation over its policy of not working with brokers who also work with Rocket Mortgage® and Fairway Independent Mortgage, the second- and tenth-largest lenders respectively.
United Wholesale Mortgage is a wholesale lender, which means its loans are only accessible via a mortgage broker.
The lender offers a unique "Conventional 1% Down" program, where if an income-qualified borrower puts 1% down, United Wholesale Mortgage will put an additional 2% toward the down payment, up to $4,000.
2. Rocket Mortgage®
Rocket Mortgage® -- formally Quicken Loans -- was the second-largest mortgage lender in 2024.
In 2024, Rocket Mortgage® originated 361,071 mortgages worth $97.6 billion, giving it a 5.9% share of the market by origination.
3. CrossCountry Mortgage
CrossCountry Mortgage was the third-largest mortgage lender in 2024, originating 101,894 loans worth $39.4 billion.
CrossCountry Mortgage has mortgages available for most types of home buyers, including those with lower credit scores and smaller down payments. The company has also leaned into automation, which saves time in applying for and closing a loan with it.
4. Bank of America Mortgage
Bank of America Mortgage was the fourth-largest mortgage lender in 2024. It originated 83,165 loans which amounted to $30 billion.
Bank of America Mortgage offers low down payment mortgages and down payment assistance, plus perks for those who have bank accounts with Bank of America or invest with Merrill.
5. Navy Federal Credit Union Mortgage
Navy Federal Credit Union Mortgage, the fifth-largest mortgage lender in 2024, provided 82,022 mortgages that year worth nearly $17.7 billion.
If you are a member of NFCU or eligible to become one, it's a top mortgage lender option. It's particularly attractive to borrowers who can only afford a low down payment, but don't want private mortgage insurance.
6. JPMorgan Chase
JPMorgan Chase was the sixth-largest mortgage lender in 2024. It originated 80,744 loans worth $50.7 billion.
7. loanDepot
loanDepot was the seventh-largest mortgage provider in 2024, originating 79,418 loans worth $23.8 billion. The independent mortgage company was founded in 2009 and went public in 2021.
loanDepot is one of the largest VA mortgage lenders.
8. Guild Mortgage
Guild Mortgage was the eighth-largest mortgage lender in 2024. It originated 75,356 loans worth $23.2 billion.
9. U.S. Bank Mortgage
U.S. Bank Mortgage was the ninth-largest mortgage lender in 2024. It originated 74,512 loans worth $30 billion that year.
Customers who bank with US Bank can receive a large discount on mortgage closing costs.
10. Fairway Independent Mortgage
Fairway Independent Mortgage, the tenth-largest mortgage lender in 2024, originated 74,401 mortgages in 2024 worth $23.7 billion.
Fairway Independent Mortgage has consistently high customer satisfaction rates, in part due to its hundreds of branches across the country.
Mortgage lending trends
Mortgage and home loan activity more broadly accelerated in 2024 compared to 2023: the value of mortgages and other loans grew 15% and originations increased by 8%. The number of home purchase loans originated increased 2% and the total value of those loans grew 6%.
Those increases show that borrowers are continuing to take out more loans, and that those loans are larger, for home purchases, home improvement, mortgage refinancing, and home equity lines of credit.
Non-bank mortgage lenders expanded their market share in 2024. That year, banks issued 28.9% of loans, credit unions issued 15.4%, and other, non-bank lenders issued 55.7%. In 2023, banks issued 32.5% of loans, credit unions issued 16.7%, and non-bank lenders issued 50.8%, according to iEmergent's analysis of government data.
More changes to the mortgage market are likely in store, with the Federal Reserve considering additional rate cuts while eager prospective home buyers bide their time.
FAQs
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Here's a list of the best mortgage lenders, whether you're looking for a streamlined online application process, specialized loan type, excellent customer service, or any number of other criteria.
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United Wholesale Mortgage is the largest mortgage lender in the United States, originating 366,078 mortgages in 2024 worth $139.7 billion.
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United Wholesale Mortgage is the largest non-bank mortgage lender and the largest overall mortgage lender in the United States, originating 366,078 mortgages in 2024 worth $139.7 billion.
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A mortgage lender is a financial institution that provides a mortgage. A mortgage broker helps a prospective home buyer find a mortgage, taking care of the communication and negotiation with the mortgage lender on behalf of their client, for a fee.
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There are pros and cons to each type of mortgage provider. A large bank may come with a sense of security, as well as more physical locations for in-person service. A big non-bank lender can probably offer a speedy online application process. A smaller, local lender may know your specific area better and have more time to spend with you on your application.
Think about what is most important to you, then explore lenders that excel in those areas.
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Sources
- Federal Financial Institutions Examination Council (2025). "Home Mortgage Disclosure Act."
- iEmergent (2025). "2024 HMDA Data Findings: Mortgage Originations, Applications, and Trends."
Our Research Expert
Jack Caporal is the Research Director for The Motley Fool and Motley Fool Money.