The top 10 mortgage lenders based on the number of mortgage loans they originated in 2023 includes a mix of banks, nonbank lenders and one credit union. Banks and credit unions typically often offer a suite of financial services, including checking accounts, wealth management, auto loans and mortgages. Nonbank lenders are financial institutions that lend money but don't offer deposit accounts.
With any mortgage, however, the company that originates your loan won't necessarily be the one that services your account. Many lenders hire another company to collect payments, and lenders commonly switch servicers or sell your loan to a new company. These changes won't alter your loan's terms or affect your credit score, but they mean that even if you use one of the lenders below, you might find yourself dealing with a new company after you close.
| Top 10 Largest Mortgage Lenders in the U.S. | |||
|---|---|---|---|
| Rank | Mortgage Lender | Number of Originations | Loan Amount |
| 1 | Rocket Mortgage | 288,558 | $76,259,060,000 |
| 2 | United Wholesale Mortgage | 274,667 | $102,886,015,000 |
| 3 | Bank of America | 89,329 | $26,959,545,000 |
| 4 | Fairway Independent Mortgage | 82,985 | $26,024,135,000 |
| 5 | CrossCountry Mortgage | 77,790 | $27,911,420,000 |
| 6 | Navy Federal Credit Union | 70,371 | $14,696,705,000 |
| 7 | U.S. Bank | 69,655 | $24,412,535,000 |
| 8 | Citizens Bank | 66,687 | $15,352,485,000 |
| 9 | PNC Bank | 65,984 | $14,736,310,000 |
| 10 | LoanDepot | 62,665 | $20,733,635,000 |
Source: National Mortgage News
1. Rocket Mortgage
Rocket Mortgage—formerly Quicken Loans—launched its online-only mortgage application process in 2015, and it was the first lender to offer electronic closings nationwide. Today, you can apply and complete the mortgage application, review and approval process on your phone.
- Number of originations: 288,558
- Total loan amount: $76,259,060,000
Rocket Mortgage offers conventional, Federal Housing Administration (FHA), Department of Veterans Affairs (VA) and jumbo loans. It has several options for buyers who don't have a lot of money for a down payment. For example, the ONE+ By Rocket Mortgage loan only requires a 1% down payment.
Learn more >> What Type of Mortgage Loan Is Best?
2. United Wholesale Mortgage
United Wholesale Mortgage works with home loan brokers rather than borrowers. Loan brokers don't work for a single financial institution. Instead, they can prepare your application and then gather offers from multiple lenders, including United Wholesale Mortgage.
- Number of originations: 274,667
- Total loan amount: $102,886,015,000
A loan broker might show you various types of conventional and government-backed loans from United Wholesale Mortgage, including FHA, VA and U.S. Department of Agriculture (USDA) loans. It also has 0% down payment conventional loan options and a single-closing construction loan that has lower monthly payments while you're building your home.
Learn more >> What Is a Mortgage and How Does It Work?
3. Bank of America
Bank of America originated the most mortgages of any bank on our list, although that was still less than a third of what the two leading nonbank lenders originated. It's also one of the largest banks in the U.S., and it offers many financial products and services to individuals and businesses.
- Number of originations: 89,329
- Total loan amount: $26,959,545,000
Bank of America furnishes various types of mortgages directly to borrowers. There isn't necessarily a benefit to getting a mortgage from a bank versus a nonbank lender. However, existing customers might receive reduced fees or mortgage rates through the Bank of America Preferred Rewards program.
Learn more >> How to Get the Most Out of Your Bank Account
4. Fairway Independent Mortgage
Fairway Independent Mortgage Corp. is a direct lender with physical branches in 48 states. Although it doesn't list its current mortgage rates on its website, Fairway does offer an online preapproval process.
- Number of originations: 82,985
- Total loan amount: $26,024,135,000
Fairway offers conventional and government-backed loans, including conventional and jumbo physician loans for medical professionals. These types of professional mortgages might have different debt-to-income (DTI), loan limit, mortgage insurance and down payment requirements to account for the high income that the borrower will likely have in the future.
5. CrossCountry Mortgage
CrossCountry Mortgage works directly with borrowers and has over 700 branches in all 50 states as well as Washington, D.C., and Puerto Rico. You can start the application process online, but you may need to speak with a CrossCountry mortgage loan officer before you can review your specific offers.
- Number of originations: 77,790
- Total loan amount: $27,911,420,000
CrossCountry offers several down payment assistance programs that can make buying a home easier. For example, you might receive a grant or a low-cost or forgivable second loan that can go toward your closing costs and down payment. Many of these programs are also available through other participating lenders.
Learn more >> First-Time Homebuyers: How to Qualify for Loans, Programs and Grants
6. Navy Federal Credit Union
Navy Federal Credit Union is the only credit union to make the top 10 list. Credit unions are not-for-profit organizations that are owned by and serve their members—the people who open accounts or take out loans. You need to meet certain eligibility criteria to become a member, and Navy Federal Credit Union membership is open to servicemembers, their family members and Department of Defense civilians.
- Number of originations: 70,371
- Total loan amount: $14,696,705,000
Navy Federal Credit Union is a top lender for VA loans, but it also offers several non-VA conventional loans, including fixed-rate and adjustable-rate mortgages. Its Homebuyers Choice mortgage is similar to VA loans in that it doesn't require a down payment or mortgage insurance, but you could qualify for it even if you aren't eligible for a VA loan.
7. U.S. Bank
U.S. Bank is over 150 years old and is one of the largest banks in the U.S. The bank has more than 2,000 branches in 26 states—primarily in the Midwest and Western states. But you also can get a mortgage from U.S. Bank to buy a home in other states.
- Number of originations: 69,655
- Total loan amount: $24,412,535,000
U.S. Bank lists interest rates and APRs for the various mortgages it offers online. To qualify for the listed rate, however, you may need to have good credit, make a large down payment and buy mortgage points. Advertised mortgage rates often depend on several factors, which is one reason getting preapproved with several lenders and comparing your actual offers is important.
Learn more >> How to Shop for a Mortgage
8. Citizens Bank
Citizens Bank is headquartered in Providence, Rhode Island. It has over 1,000 branches in 14 states and D.C. It primarily operates in New England, the mid-Atlantic and the Midwest, although it recently opened two private banking offices in California.
- Number of originations: 66,687
- Total loan amount: $15,352,485,000
Citizens Bank offers mortgage loans to buy or build a home, including several options with low or no down payment requirements. It also offers existing homeowners a home equity line of credit (HELOC), and its online HELOC application and funding process could give you an offer within a couple of minutes and funding in as little as two weeks.
Learn more >> How Long Does It Take to Get a HELOC?
9. PNC Bank
Similar to U.S. Bank and Citizens Bank, PNC is a large super-regional bank. It's headquartered in Pittsburgh and has over 2,200 branches, with plans to open another 100 branches and renovate 1,200 existing branches through 2028. It also offers mortgages in every state with online and phone-based support.
- Number of originations: 65,984
- Total loan amount: $14,736,310,000
PNC Bank offers multiple types of mortgages, including construction, purchase, refinance and home equity lines of credit. It also has an online tool that you can use to learn about and compare different types of home loans.
10. LoanDepot
LoanDepot is a nonbank retail lender that was founded in 2010. It has retail locations across the country and is licensed in every state, but you can also start an application online or over the phone.
- Number of originations: 62,665
- Total loan amount: $20,733,635,000
LoanDepot offers many common conventional and government-backed mortgages. Its online Mellohome platform can connect you with a real estate agent. If you use the agent and get a mortgage from LoanDepot, you could get up to $3,500 cash back. First-time homebuyers can receive an additional $1,000. Or, if you sell your home through the program, you could get an additional $3,500.
Learn more >> What Factors Do Mortgage Lenders Consider?
Mortgage Lending Trends
Mortgage lending has consolidated over the last decade, with nonbank lenders (including fintech lenders) gaining share. Overall, nonbank lenders originated 63.1% of mortgages for people purchasing single-family homes, up from 60.2% in 2022.
There are also a few other trends you might see in 2025:
- An increase in origination: The Mortgage Bankers Association expects mortgage originations to increase by 17% based on the amount of money lent. Mortgage rates are expected to drop in 2025, which could prompt more demand from homebuyers. Recent homebuyers may also look for opportunities to save money by refinancing as rates drop.
- HELOCs remain popular: Home equity lines of credit (HELOCs) and home equity loans are secondary mortgages because they're also secured by a home. Homeowners who still feel stuck in their homes because they have a very low interest rate may use these types of loans to make home improvements instead of moving.
- Less personalized service: Many mortgage lenders have cut staff as high interest rates decreased demand. Although technology can help offset some of the impacts, you might note less personalized service from loan officers or brokers than you received in the past.
Learn more >> Housing Market Predictions: What to Expect in 2025
Get Your Credit Mortgage Ready
A good credit score can help you qualify for more types of mortgages and lower interest rates. If you're looking for a new home or considering refinancing, check your credit report and FICO® Score☉ for free with Experian to see where you stand and get suggestions for improving your credit. Although mortgage lenders likely use a different type of credit score for their decisions, many actions that improve one of your credit scores could help all of your scores.