Top Mortgage Lenders in California 2022: A Fresh Look at the Market
The mortgage lending landscape in California has seen a significant shift in 2022, with new data revealing the top players in the market. The Golden State, known for its robust real estate market, is home to some of the biggest mortgage lenders in the country.
According to the latest data, United Wholesale Mortgage (UWM) has emerged as the top mortgage lender in California, with an impressive $34.9 billion in loan volume. This marks a significant achievement for the Pontiac, Michigan-based company, which has also been leading the national market for several quarters.
Following closely behind UWM is Wells Fargo, a San Francisco-based institution, with $30.4 billion in loan volume. Rounding out the top three is First Republic Bank, another San Francisco-based lender, with $27 billion in loan volume.
The top 10 list also includes familiar names such as Chase, Rocket Mortgage, Bank of America, U.S. Bank, loanDepot, Citi, and Union Bank. Interestingly, seven of the top 10 lenders in California are depository banks, highlighting the dominance of traditional financial institutions in the market.
In terms of home purchase financing, UWM once again takes the top spot with $22.4 billion in loan volume, followed by Wells Fargo and First Republic Bank. The list also includes Chase, Rocket Mortgage, Bank of America, U.S. Bank, Citi, loanDepot, and Guaranteed Rate.
On the other hand, when it comes to refinance loans, Rocket Mortgage leads the pack with $12.7 billion in loan volume, followed closely by UWM and Chase. Wells Fargo and First Republic Bank also make the top five in this category.
The data also provides insights into the mortgage lending landscape in major cities such as Los Angeles, San Diego, San Jose, and San Francisco, showcasing the top lenders in each region.
While the size of a mortgage lender may be a consideration for some borrowers, ultimately, the most important factor is finding a lender that offers exceptional service and competitive pricing. With the California real estate market continuing to thrive, borrowers have a wide range of options when it comes to securing a home loan.