Top Mortgage Lenders in New York

Now let’s take a look at the top mortgage lenders in New York, based on overall loan volume produced last year.

The state of New York is unique in that many of the top lenders are depository banks that actually hold the loans on their books.

Or at least offer checking and savings accounts to customers alongside mortgage offerings.

This counters the recent rise of nonbanks dominating the mortgage space, which has worried some market watchers.

Anyway, topping the list in 2021 (most recent year available) was JPMorgan Chase, which happens to be headquartered in New York City.

Top Mortgage Lenders in New York (Overall)

Ranking Company Name 2021 Loan Volume
1. Chase $20.9 billion
2. Wells Fargo $19.1 billion
3. Rocket Mortgage $11.2 billion
4. Citibank $9.1 billion
5. Bank of America $7.5 billion
6. Citizens Bank $7.0 billion
7. loanDepot $6.1 billion
8. UWM $5.8 billion
9. First Republic Bank $4.8 billion
10. TD Bank $4.1 billion

Overall, the state of New York accounted for about 4% of the nation’s home loan volume in 2021, per HMDA data presented by Richey May.

And it’s not often the top mortgage lender in a particular state is also a native of the state, but this happens to be true in the case of New York.

Chase grabbed the top spot with $20.9 billion in home loan origination volume during the year, about 10% of their national total.

It was enough to beat out Wells Fargo, which despite all its dramas managed $19.1 billion in residential mortgage volume.

Rocket Mortgage, the nation’s overall top mortgage lender, took third place with $11.2 billion, nearly half of Chase’s volume.

Fourth place also belonged to New York-based company, Citibank, which doled out $9.1 billion in home loans last year.

Bank of America took fifth with $7.5 billion in origination volume, solidifying the depositories’ dominance in the mortgage space in NY.

Citizens Bank, loanDepot, United Wholesale Mortgage, First Republic Bank, and TD Bank rounded out the top 10.

That means seven of the 10 largest mortgage lenders in New York are banks as opposed to nonbanks.

It’s probably the only state in the nation where that’s the case.

Top New York Mortgage Lenders (for Home Buyers)

Ranking Company Name 2021 Loan Volume
1. Chase $9.0 billion
2. Wells Fargo $8.8 billion
3. Citibank $5.0 billion
4. Citizens Bank $4.3 billion
5. Bank of America $3.3 billion
6. UWM

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