The Largest Mortgage Lenders in the U.S.

United Wholesale Mortgage originated more home loans (422,120) and more dollar volume ($164.3 billion) than any other lender in 2025, holding the top spot over Rocket Mortgage®, and CrossCountry Mortgage for a second straight year, according to a Motley Fool analysis of Home Mortgage Disclosure Act (HMDA) data published by the Consumer Financial Protection Bureau.

More than 5.5 million home purchase, refinance, and cash-out refinance mortgages were originated in 2025, totaling $2.22 trillion, across thousands of reporting lenders nationwide. That works out to an average monthly mortgage payment and an average down payment that vary widely depending on the loan and the lender. But "largest" isn't one number. A lender can rank differently depending on whether size is measured by the number of loans it makes or the dollar volume behind them, since average loan size varies widely by lender and by the type of borrower each one serves. Both rankings appear below.

Top 25 largest mortgage lenders by originations

The 10 largest mortgage lenders by loan origination volume

The top two lenders alone accounted for nearly 15% of every mortgage originated in the country in 2025. After that, the market fragments quickly. The third-largest lender by count, CrossCountry Mortgage, originated barely a quarter of Rocket Mortgage®'s loan volume.

1. United Wholesale Mortgage

• Loans originated: 422,120
• Dollar volume: $164.3 billion
• Market share: 7.55% by count, 7.41% by dollars
• Rank vs. 2024: No change (No. 1)

United Wholesale Mortgage, a subsidiary of publicly traded UWM Holdings Corporation (NYSE: UWMC), is a wholesale lender that originates loans exclusively through independent mortgage brokers rather than directly to consumers. It held the top spot by both loan count and dollar volume for a second consecutive year.

2. Rocket Mortgage®

• Loans originated: 410,460
• Dollar volume: $113.1 billion
• Market share: 7.35% by count, 5.10% by dollars
• Rank vs. 2024: No change (No. 2)

Rocket Mortgage®, a subsidiary of publicly traded Rocket Companies, Inc. (NYSE: RKT), is a direct-to-consumer online lender. Its dollar-volume share trails its loan-count share by more than 2 percentage points, reflecting a smaller average loan size than that of United Wholesale Mortgage.

3. CrossCountry Mortgage

• Loans originated: 116,489
• Dollar volume: $47.9 billion
• Market share: 2.08% by count, 2.16% by dollars
• Rank vs. 2024: No change (No. 3)

CrossCountry Mortgage is a privately held retail lender based in Ohio. It's the third-largest lender by both measures, though its loan volume is less than a third of Rocket Mortgage®'s.

4. Guild Mortgage

• Loans originated: 85,860
• Dollar volume: $26.8 billion
• Market share: 1.54% by count, 1.21% by dollars
• Rank vs. 2024: Up 1 spot (from No. 5)

Guild Mortgage, a subsidiary of publicly traded Guild Holdings Company (NYSE: GHLD), is a retail lender based in San Diego that operates primarily through a network of loan officers and community bank partnerships across the country.

5. JPMorgan Chase Bank

• Loans originated: 83,523
• Dollar volume: $61.6 billion
• Market share: 1.49% by count, 2.78% by dollars
• Rank vs. 2024: Down 1 spot (from No. 4)

JPMorgan Chase Bank, part of JPMorgan Chase & Co. (NYSE: JPM), ranks 5th by loan count but 3rd by dollar volume, reflecting a larger average loan size than most lenders ahead of it.

6. Veterans United Home Loans

• Loans originated: 82,764
• Dollar volume: $27.5 billion
• Market share: 1.48% by count, 1.24% by dollars
• Rank vs. 2024: No change (No. 6)

Veterans United Home Loans, which reports to HMDA under the legal entity name Mortgage Research Center, LLC, specializes in VA loans for military members, veterans, and their families.

7. Pennymac

• Loans originated: 82,619
• Dollar volume: $33.9 billion
• Market share: 1.48% by count, 1.53% by dollars
• Rank vs. 2024: Up 8 spots (from No. 15)

Pennymac Loan Services, a subsidiary of publicly traded PennyMac Financial Services, Inc. (NYSE: PFSI), posted the largest jump in the top 25, rising eight spots from 2024.

8. Fairway Independent Mortgage

• Loans originated: 72,647
• Dollar volume: $24.2 billion
• Market share: 1.30% by count, 1.09% by dollars
• Rank vs. 2024: Down 1 spot (from No. 7)

Fairway Independent Mortgage is a privately held retail lender based in Wisconsin, operating primarily through a network of loan officers across the country.

9. loanDepot

• Loans originated: 71,124
• Dollar volume: $23.7 billion
• Market share: 1.27% by count, 1.07% by dollars
• Rank vs. 2024: No change (No. 9)

loanDepot.com, LLC, a subsidiary of publicly traded loanDepot, Inc. (NYSE: LDI), is a retail lender offering both purchase and refinance loans online and through licensed loan officers.

10. CMG Mortgage

• Loans originated: 69,843
• Dollar volume: $27.5 billion
• Market share: 1.25% by count, 1.24% by dollars
• Rank vs. 2024: Up 3 spots (from No. 13)

CMG Mortgage, Inc., which does business as CMG Home Loans, is a privately held retail lender based in California.

11. Freedom Mortgage

• Loans originated: 69,552
• Dollar volume: $24.0 billion
• Market share: 1.24% by count, 1.08% by dollars
• Rank vs. 2024: Up 1 spot (from No. 12)

Freedom Mortgage Corporation is a privately held lender with a heavy focus on FHA and VA government-backed loans.

12. DHI Mortgage

• Loans originated: 69,159
• Dollar volume: $23.4 billion
• Market share: 1.24% by count, 1.06% by dollars
• Rank vs. 2024: Down 4 spots (from No. 8)

DHI Mortgage Company is the captive mortgage lender of homebuilder D.R. Horton, Inc. (NYSE: DHI), financing homes built primarily by its parent company.

13. Rate (formerly Guaranteed Rate)

• Loans originated: 66,683
• Dollar volume: $28.8 billion
• Market share: 1.19% by count, 1.30% by dollars
• Rank vs. 2024: Down 2 spots (from No. 11)

Guaranteed Rate, Inc. is a privately held retail lender based in Chicago.

14. Newrez

• Loans originated: 66,498
• Dollar volume: $22.0 billion
• Market share: 1.19% by count, 0.99% by dollars
• Rank vs. 2024: Up 2 spots (from No. 16)

Newrez LLC, a subsidiary of publicly traded Rithm Capital Corp. (NYSE: RITM), originates and services mortgages, and was formerly known as Caliber Home Loans and New Penn Financial. Refinance activity, including the average cost of a mortgage refinance, makes up a meaningful share of its business alongside purchase lending.

15. Eagle Home Mortgage

• Loans originated: 56,951
• Dollar volume: $19.9 billion
• Market share: 1.02% by count, 0.90% by dollars
• Rank vs. 2024: Down 1 spot (from No. 14)

Eagle Home Mortgage, since rebranded as Lennar Mortgage, is the captive mortgage lender of homebuilder Lennar Corporation (NYSE: LEN), financing homes built primarily by its parent company.

16. Movement Mortgage

• Loans originated: 55,913
• Dollar volume: $19.7 billion
• Market share: 1.00% by count, 0.89% by dollars
• Rank vs. 2024: Down 6 spots (from No. 10)

Movement Mortgage, a privately held retail lender based in South Carolina, posted the sharpest decline in the top 25, falling six spots from 2024.

17. New American Funding

• Loans originated: 52,370
• Dollar volume: $15.9 billion
• Market share: 0.94% by count, 0.72% by dollars
• Rank vs. 2024: Up 1 spot (from No. 18)

New American Funding, which reports to HMDA under the legal entity name Broker Solutions, Inc., is a privately held retail lender.

18. US Bank Mortgage

• Loans originated: 50,642
• Dollar volume: $29.7 billion
• Market share: 0.91% by count, 1.34% by dollars
• Rank vs. 2024: Down 1 spot (from No. 17)

US Bank Mortgage, part of publicly traded U.S. Bancorp (NYSE: USB), is a depository bank offering mortgages alongside its broader retail banking business.

19. Bank of America Mortgage

• Loans originated: 46,863
• Dollar volume: $28.9 billion
• Market share: 0.84% by count, 1.30% by dollars
• Rank vs. 2024: No change (No. 19)

Bank of America Mortgage, part of publicly traded Bank of America Corporation (NYSE: BAC), is a depository bank offering mortgages to its existing retail banking customers.

20. Navy Federal Credit Union Mortgage

• Loans originated: 43,252
• Dollar volume: $14.8 billion
• Market share: 0.77% by count, 0.67% by dollars
• Rank vs. 2024: No change (No. 20)

NFCU is the largest credit union in the U.S. by membership, serving military members, veterans, and their families.

21. Wells Fargo Mortgage

• Loans originated: 38,729
• Dollar volume: $47.0 billion
• Market share: 0.69% by count, 2.12% by dollars
• Rank vs. 2024: No change (No. 21)

Wells Fargo Mortgage, part of publicly traded Wells Fargo & Company (NYSE: WFC), shows the widest gap between rankings of any lender in the top 25: 21st by loan count but 5th by dollar volume, reflecting a much larger average loan size than most lenders ahead of it.

22. Union Home Mortgage

• Loans originated: 36,218
• Dollar volume: $11.3 billion
• Market share: 0.65% by count, 0.51% by dollars
• Rank vs. 2024: New to the top 25

Union Home Mortgage Corp., a privately held retail lender based in Ohio, entered the top 25 by loan count for the first time in 2025.

23. Citizens Bank

• Loans originated: 35,630
• Dollar volume: $14.8 billion
• Market share: 0.64% by count, 0.67% by dollars
• Rank vs. 2024: New to the top 25

Citizens Bank, part of publicly traded Citizens Financial Group, Inc. (NYSE: CFG), entered the top 25 by loan count for the first time in 2025.

24. The Loan Store

• Loans originated: 33,116
• Dollar volume: $13.5 billion
• Market share: 0.59% by count, 0.61% by dollars
• Rank vs. 2024: New to the top 25

The Loan Store, Inc., a privately held retail lender, entered the top 25 by loan count for the first time in 2025.

25. Huntington National Bank

• Loans originated: 31,415
• Dollar volume: $9.3 billion
• Market share: 0.56% by count, 0.42% by dollars
• Rank vs. 2024: Down 3 spots (from No. 22)

Huntington National Bank, part of publicly traded Huntington Bancshares Incorporated (NASDAQ: HBAN), rounds out the top 25 by loan count.

What the largest lenders have in common

Two lending models dominate the top of the list. United Wholesale Mortgage operates exclusively through independent brokers, while Rocket Mortgage®, the second-largest lender, lends directly to consumers online. Between them, the two accounted for nearly 15% of every mortgage originated nationwide in 2025.

Loan count measures the number of households a lender served. Dollar volume measures how much of the market's total borrowing it captured, and it rewards lenders whose typical customer takes out a larger loan, whether because of pricier local markets or a wealthier customer base. A lender can rank far higher by one measure than the other for that reason alone, not because it actually serves more or fewer borrowers.

The rankings also weren't static from 2024 to 2025: several lenders moved multiple spots in either direction, and a handful of names cracked the top 25 for the first time.

Shoppers comparing lenders can pair this data with a look at the best mortgage refinance lenders and the average credit score needed to qualify for the loan programs most of these lenders offer.