Top Mortgage Lenders in the State of Massachusetts

Now let’s check out the top mortgage lenders in Massachusetts, based on loan volume.

In 2021, roughly $164 billion in home loans were originated in The Bay State, making it one of the more productive states in the nation.

As to who led the way, it wasn’t the nation’s number one mortgage lender, Rocket Mortgage.

It was Chicago-based Guaranteed Rate, which outmuscled the competition despite being only the 13th largest mortgage lender nationwide.

Read on to see who else topped the mortgage lending charts in Massachusetts.

Top Mortgage Lenders in Massachusetts (Overall)

Ranking Company Name 2021 Loan Volume
1. Guaranteed Rate $7.9 billion
2. Rocket Mortgage $7.2 billion
3. Chase $6.1 billion
4. Leader Bank $5.9 billion
5. Citizens Bank $5.2 billion
6. U.S. Bank $4.7 billion
7. Fairway Independent $3.7 billion
8. UWM $3.6 billion
9. Bank of America $3.5 billion
10. Newrez $3.5 billion

Taking the top spot overall was Chicago, Illinois-based direct lender Guaranteed Rate with $7.9 billion funded, per HMDA data from Richey May.

That was more than enough (although it was close) to beat out Rocket Mortgage, which came in second with $7.2 billion.

New York City-based JPMorgan Chase took third with $6.1 billion funded, decent but perhaps it could have been better given their proximate location.

A pair of banks, Leader Bank and Citizens Bank, took fourth and fifth with $5.9 billion and $5.2 billion, respectively.

The rest of the top 10 included U.S. Bank, Fairway Independent Mortgage, United Wholesale Mortgage (UWM), Bank of America, and Newrez.

Note that Leader Bank was the only Massachusetts-based company in the top 10.

Top Massachusetts Mortgage Lenders (for Home Buyers)

Ranking Company Name 2021 Loan Volume
1. Guaranteed Rate $3.5 billion
2. Leader Bank $2.9 billion
3. Chase $2.7 billion
4. Fairway Independent $1.9 billion
5. U.S. Bank $1.8 billion
6. First Republic Bank $1.6 billion
7. UWM $1.6 billion
8. CrossCountry Mortgage $1.5 billion
9. Guild Mortgage $1.4 billion
10. Citizens Bank $1.3 billion

When we turn our attention to home purchase lending, Guaranteed Rate retains its hold on the top spot with $3.5 billion funded.

But Leader Bank climbs the ranks to nab the second spot with $2.9 billion funded. As I always say, home buyers tend to gravitate to local companies for home purchase financing.

This was also true of third place Chase, being…

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