The Top Refinance Companies By Loan Volume Last Year

Now it’s time to take a look at the top refinance companies in the country, based on who closed the most loans last year.

As you may have guessed, Rocket Mortgage (formerly known as Quicken Loans) led the way by a mile.

And by a mile, I mean $100+ billion over their nearest competitor, United Wholesale Mortgage.

It’s no surprise really seeing that they were the top mortgage lender overall in 2021 as well.

Read on to see which other mortgage companies made the top 10.

Top Refinance Companies (Overall)

Ranking Company Name 2021 Loan Volume
1. Rocket Mortgage $275.7 billion
2. UWM $139.6 billion
3. Wells Fargo $126.0 billion
4. Chase $113.6 billion
5. loanDepot $97.7 billion
6. Freedom Mortgage $94.1 billion
7. Pennymac $71.4 billion
8. Homepoint $66.4 billion
9. Mr. Cooper $65.0 billion
10. Newrez $58.2 billion

As mentioned, Detroit-based mega lender Rocket Mortgage easily took first place in the refinance category with $275.7 billion funded in 2021, per Richey May’s HMDA data.

There are two main types of mortgage refinances: the rate and term refinance (used to lower your rate and/or change your loan type/term) and the cash out refinance, utilized to tap equity.

Rocket shined in both categories as scores of homeowners sought both lower mortgage rates and cash.

Their total was nearly double second place United Wholesale Mortgage (UWM), a company that works exclusively with mortgage brokers.

In third was Wells Fargo with $126 billion in refinance loans, slightly better than fourth place Chase with $113.6 billion.

Completing the top five was direct lender loanDepot with $97.7 billion funded during the year.

Others in the top 10 included Freedom Mortgage, Pennymac, Homepoint, Mr. Cooper, and Newrez.

No huge surprises as these are all either big commercial banks or household names in the mortgage industry.

Top Refinance Companies (Conventional Loans)

Ranking Company Name 2021 Loan Volume
1. Rocket Mortgage $231.7 billion
2. UWM $127.5 billion
3. Wells Fargo $122.0 billion
4. Chase $113.5 billion
5. loanDepot $87.4 billion
6. Homepoint $59.0 billion
7. Bank of America $55.8 billion
8. U.S. Bank $53.2 billion
9. Mr. Cooper $52.8 billion
10. Newrez $48.6 billion

If we filter out government-backed home loans, including FHA loans, VA loans, and USDA loans, the list changes slightly, though not by much.

That’s because mortgage lenders primarily originate…

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