Despite dips in volumes and loans across the board, many mortgage lenders
managed to maintain — or even grew their business — in 2017. The declines
appeared less dramatic than expected and are in line with the overall industry trend in the past year.
The aggregate volume of the top 75 lenders ranked on our 2017 Top Overall Volume list was $526.6 billion, compared with the $574 billion for the 2016
counterpart group. Similarly, their total number of loans was 2,041, 117 in
2017, compared to 2,251,962 loans closed by the 2016 counterpart group.
Caliber Home Loans climbed from No. 2 in the 2016 rankings to No. 1 on our
Top Dollar Volume list for the 2017 rankings, with nearly $44 billion in production across retail, wholesale and correspondent loan lines. The Texas-based
company, with operations across all 50 states, increased its volume by more
than 8 percent from 2016 to 2017, a hike that earned it the No. 5 rank on our
Top Volume Gain list.
The highest overall loan-volume gain from 2016 to 2017 was registered
by United Wholesale Mortgage, which increased its total from $23 billion to
$29.5 billion over the period. With this whopping increase, United Wholesale
also kept its hold over the No. 1 spot on the Top Wholesale Volume rankings
for the third consecutive year.
A long-anticipated rise in interest rates finally was seen in this past year — and
it was felt across origination volumes as refinances declined. The overall retail
production of the 25 lenders ranked on the Top Retail Volume 2017 list was
$248 billion, much lower than the $280 billion of the 2016 counterpart group.
For the third year running, loanDepot maintained the top spot on our Top
Retail Volume list, with nearly $30 billion in retail volume, a slight decrease
from its $32.4 billion in retail volume in 2016.
Fairway Independent Mortgage Corp. came in second on the Top Retail
Volume rankings, with nearly $20 billion, a nice climb from No. 4 in the 2016
rankings thanks to a 22 percent increase in its retail volume year over year.
Guaranteed Rate kept the No. 3 rank on the Top Retail Volume list, with
$19.2 billion in retail volume, compared to $22.9 billion in 2016. With its entire
volume in retail production, the company’s lower volume placed it No. 6 on
the 2017 Top Dollar Volume list, down from No. 5 on the 2016 list.
Wholesale and correspondent
Declining production volumes appeared to varying extents in the wholesale
and correspondent categories. The overall wholesale production of the
25 lenders ranked on the 2017 Top Wholesale Volume list was $101.6 billion,
slightly lower than the $104.6 billion of the 2016 counterpart group, despite
the big volume increase of United Wholesale Mortgage.
The overall correspondent production of the 10 lenders ranked on the
2017 Top Correspondent Volume list was $72.4 billion, marginally lower than
the $72.5 billion for the 2016 counterpart group. With the absence of Freedom Mortgage Corp. from this year’s rankings, Flagstar Bank clinched the top
spot on the Top Correspondent Volume list, with nearly $25.8 billion. That exceeds Freedom’s 2016 correspondent volume of $21.3 billion, which earned
the lender the top spot on the 2016 Correspondent Volume list.
n n n
Congratulations to all the mortgage lenders that made Top Mortgage Lenders
2017. Adapting to the ups and downs of the mortgage industry has become
the new norm. It does take agility and skill from everyone who leads and makes
decisions for these top performers to stay on top of the lending game. n
Wholesale and Correspondent Volumes of Top Mortgage Lenders
Total wholesale production of the 25 lenders ranked on the Top Wholesale Volume lists from 2014 to 2017
and total correspondent production of the 10 correspondent lenders ranked on the Top Correspondent
Volume lists from 2014 to 2017
Source: Top Mortgage Lenders 2014-2017
Volumes and Loans of Top Mortgage Lenders
Retail Volumes of Top Mortgage Lenders
Total retail volumes closed by the 25 lenders ranked on the Top Retail Volume lists from 2012 to 2017
Based on the production of the top 75 mortgage lenders on the Top Overall Volume lists from 2012 to 2017
Source: Top Mortgage Lenders 2012-2017
Source: Top Mortgage Lenders 2012-2017
<< Top Mortgage Lenders 2017 continued from Page 39
40 Scotsman Guide Residential Edition | ScotsmanGuide.com | June 2018