Mortgage lenders are likely to remember 2016 for its surprise volume gains,
which were reflected in our rankings. The aggregate volume of the top
75 lenders ranked on our 2016 Top Overall Volume list exceeded $574 billion
compared with the $450.5 billion for the 2015 counterpart group.
For the third consecutive year, Freedom Mortgage Corp. ranked No. 1 on the
Top Overall Volume list. Freedom’s 2016 total volume reached $53.7 billion,
nearly 46 percent higher than its 2015 volume. With this whopping volume
increase, Freedom also landed on top of the list for Top Volume Gain, 2015
Ranked No. 2 on the Top Volume Gain list is Caliber Home Loans, with an
increase of $14.7 billion or nearly 57 percent over its 2015 volume. The volume
increase also fueled Caliber’s climb to No. 2 on our Top Overall Volume 2016
list from No. 3 in the previous year’s rankings. Caliber’s 2016 total volume was
Expectations that interest rates would trend higher incentivized mortgage
lenders to focus on the purchase business in the past few years. Because the
rise in interest rates came late this past year, refinances kept flowing in, fueling an overall increase in volumes.
The overall retail production of the 25 lenders ranked on the Top
Retail Volume 2016 list was $280 billion, compared with $207.9 billion for
the 2015 counterpart group. loanDepot maintained the top spot on our
Top Retail Volume list for the second consecutive year with $32.4 billion
in retail volume, a nearly 31 percent increase from its $24.8 billion retail
volume in 2015.
Guaranteed Rate ranked No. 3 on the Top Retail Volume list with $22.9 billion,
up from $18.1 billion in the previous year. With its entire volume in retail production, the company’s volume increase almost matched its increase in the number
of closed loans, with increases of 27 percent and 26 percent, respectively.
Guaranteed Rate closed 73,073 loans in 2016.
Wholesale and correspondent
Production volumes of wholesale and correspondent lenders that participated in this year’s rankings also are higher than past years’ lenders. The return
of many familiar names to our rankings indicates that the rise is mirrored in
lenders’ individual production numbers.
The overall wholesale production of the 25 lenders ranked on the 2016
Top Wholesale Volume list was $104.6 billion, up from $86.6 billion for the
2015 counterpart group. United Wholesale Mortgage seized the top spot for
the second year running with $22.9 billion in wholesale production, up from
$13 billion in 2015.
The overall correspondent production of the 10 lenders ranked on
the 2016 Top Correspondent Volume list was $72.5 billion, compared to
$62.8 billion for the 2015 counterpart group. Freedom Mortgage Corp.
maintained the top spot for the third consecutive year with its correspondent
volume of $21.3 billion, nearly 40 percent of the company’s total volume.
n n n
If the past years are any indication, mortgage lenders have learned how to
adapt to market and regulatory changes, and many have stayed ahead of the
curve. Whether 2017 will pan out to be another banner year for mortgage
lending is yet to be seen. For now, congratulations to the top lenders — and
their teams — that made the 2016 rankings. n
<< Top Mortgage Lenders 2016 continued from Page 37
38 Scotsman Guide Residential Edition | ScotsmanGuide.com | June 2017
Retail Volumes of Top Mortgage Lenders
Total retail volumes closed by the 25 lenders ranked on the Top Retail Volume lists from 2012 to 2016
Source: Top Mortgage Lenders 2012-2016
Wholesale and Correspondent Volumes of Top Mortgage Lenders
Total wholesale production of the 25 lenders ranked on the Top Whole Volume lists from 2014 to 2016
Source: Top Mortgage Lenders 2014-2016
Volumes and Loans of Top Mortgage Lenders
Based on the production of the top 75 mortgage lenders on the Top Overall Volume lists from 2012 to 2016
Source: Top Mortgage Lenders 2012-2016