Wednesday, September 28, 2022
HomeMortgagePrime Mortgage Lenders in Arizona

Prime Mortgage Lenders in Arizona


If you happen to’re curious who the highest mortgage lenders in Arizona are, you’ve come to the precise place.

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

Apparently, a wholesale mortgage lender truly topped the general checklist in 2021 (the newest yr obtainable).

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

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

Prime Mortgage Lenders in Arizona (General)

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 residence mortgage quantity, beating out its crosstown rival Rocket Mortgage, per HMDA information from Richey Could.

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

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

The remainder of the top-10 additionally consisted of massive nationwide mortgage manufacturers, apart from Nova Residence Loans, which is definitely an impartial mortgage banker based mostly 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 sturdy regardless of ongoing headwinds on the firm.

Prime 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 residence buy lending, which has develop into all the trend since mortgage charges virtually doubled.

The highest Arizona mortgage lender for residence 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. If you happen to dwell 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 vital checklist to observe for 2022 because the market shifts to buy vs. refinance lending.

Those that stay on it will likely be the winners within the mortgage house in what in any other case could be a tricky yr.

Prime 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. If you happen to 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 massive names.

It’ll be fascinating to see what this checklist seems to be like for 2022.

Do You Must Use One in every of Arizona’s Largest Mortgage Lenders?

Bear in mind, largest isn’t at all times greatest, although it’s potential for large and greatest to coexist.

In the end, it’ll come all the way down to your preferences and private expertise relying on your property 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 potential to work with a small mom-and-pop store and nonetheless get your mortgage from the #1 lender within the state.

Nevertheless it doesn’t actually matter how massive, small, or medium your lender is so long as they get the job executed and supply a aggressive charge (and charges).

Simply take the time to discover the numerous choices obtainable and collect greater than only one quote in order for you the possibility to avoid wasting dough.

(photograph: Andy Atzert)

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