Last year, Rocket Mortgage was the top mortgage lender in the nation, per the latest HMDA data.
While that wasn’t a big surprise, as they’ve topped the leaderboard for several years now, it was a lot closer than in years’ past.
The Detroit-based nonbank lender narrowly beat out its crosstown rival United Wholesale Mortgage by only roughly $100 million.
A year earlier, the gap between first and second place was more than $100 billion!
So it’s possible there might be a new #1 mortgage lender in 2023. Read on to see who else topped the lists.
Top Mortgage Lenders of 2022 (Overall)
| Ranking | Company Name | 2022 Loan Volume |
| 1. | Rocket Mortgage | $128.9 billion |
| 2. | United Wholesale Mortgage | $128.8 billion |
| 3. | Wells Fargo | $124.8 billion |
| 4. | Chase | $99.1 billion |
| 5. | Pennymac | $71.7 billion |
| 6. | U.S. Bank | $67.5 billion |
| 7. | Bank of America | $56.4 billion |
| 8. | loanDepot | $52.9 billion |
| 9. | Truist | $48.4 billion |
| 10. | AmeriHome Mortgage | $47.5 billion |
As mentioned, Rocket Mortgage came in first again in 2022 with $128.9 billion in home loans funded, per HMDA data from Richey May.
That was just enough to beat out Pontiac, Michigan-based UWM, which funded a very close $128.8 billion.
And UWM did it by relying solely on mortgage broker partners, whereas Rocket originates loans via the retail and wholesale channel.
Coming in a close third was Wells Fargo with $124.8 billion, which recently announced plans to pull back on its home loan business.
In fourth was NYC-based JPMorgan Chase with $99.1 billion. The company now owns First Republic Bank, one of the biggest jumbo loan lenders in the country prior to its demise.
SoCal-based Pennymac, which counts several former Countrywide execs as employees, grabbed fifth with $71.7 billion.
The bottom half of the top 10 included U.S. Bank, Bank of America, loanDepot, Truist, and AmeriHome Mortgage.
Collectively, about 4,300 banks and lenders funded about $3.35 trillion in home loans in 2022, down markedly from 2021.
For reference, Rocket did about $343 billion in 2021, while Wells and UWM originated about $228 billion each.
Freedom Mortgage, Homepoint, and Newrez all fell out of the top 10, while Bank of America, Truist, and AmeriHome climbed in.
Top Purchase Mortgage Lenders in 2022
| Ranking | Company Name | 2022 Loan Volume |
| 1. | United Wholesale Mortgage | $91.8 billion |
| 2. | Wells Fargo | $78.8 billion |
| 3. | Chase | $60.1 billion |
| 4. | Rocket Mortgage | $52.2 billion |
| 5. | Pennymac | $49.1 billion |
| 6. | U.S. Bank | $46.5 billion |
| 7. | Guaranteed Rate | $38.7 billion |
| 8. | AmeriHome Mortgage | $35.8 billion |
| 9. | Fairway Independent | $35.1 billion |
| 10. | Truist | $33.2 billion |
If we consider only purchase loans, those that went to home buyers, UWM took top honors with $91.8 billion funded.
That was more than enough to beat out second place Wells Fargo’s $78.8 billion and third place Chase’s $60.1 billion.
In fourth was Rocket with $52.2 billion, followed by Pennymac with $49.1 billion, which is less of a household name because they often act as a correspondent for other mortgage companies.
The rest of the best in the purchase category included U.S. Bank, Chicago-based Guaranteed Rate, AmeriHome Mortgage, Fairway Independent Mortgage, and Truist.
Caliber Home Loans and loanDepot fell out of the top-10, while AmeriHome and Truist joined the biggest players.
Top Mortgage Refinance Lenders in 2022
| Ranking | Company Name | 2022 Loan Volume |
| 1. | Rocket Mortgage | $74.2 billion |
| 2. | Wells Fargo | $40.4 billion |
| 3. | UWM | $37.0 billion |
| 4. | Chase | $33.9 billion |
| 5. | loanDepot | $23.2 billion |
| 6. | Bank of America | $23.1 billion |
| 7. | Pennymac | $22.6 billion |
| 8. | Mr. Cooper | $19.0 billion |
| 9. | PNC Bank | $17.9 billion |
| 10. | U.S. Bank | $17.9 billion |
When it came to mortgage refinances for existing homeowners, Rocket Mortgage was without a doubt the king with $74.2 billion funded.
They nearly doubled their nearest rival in this category, Wells Fargo, which mustered just $40.4 billion in refis.
In third was UWM with $37 billion, followed by Chase with $33.9 billion and loanDepot with $23.2 billion.
Other refinance leaders included Bank of America, Pennymac, Mr. Cooper, PNC Bank, and U.S. Bank.
Homepoint, Newrez, and Freedom Mortgage fell out, while Bank of America, PNC, and U.S. Bank joined the top 10.
For the record, recently failed First Republic Bank was the 13th largest refinance lender in the nation, 14th in home purchase lending, and the 12th largest mortgage lender overall.
Whether that pushes Chase up a spot or more remains to be seen, but it’s certainly possible.
