Right this moment we’ll take a look on the prime mortgage lenders in Maryland based mostly on their annual mortgage quantity.
Like different states within the nation, it wasn’t a giant shock that America’s largest lender additionally topped the charts in Maryland.
Sure, I’m referring to Rocket Mortgage, which had no drawback beating out one other 750 or so banks, mortgage lenders, and credit score unions to take the #1 spot.
Collectively, these mortgage corporations originated about $140 billion in house loans within the Previous Line State final 12 months.
Learn on to see who else ranked within the prime 10, together with some native names.
High Mortgage Lenders in Maryland (Total)
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | Rocket Mortgage | $8.7 billion |
| 2. | Pennymac | $6.0 billion |
| 3. | Truist Monetary | $5.7 billion |
| 4. | Freedom Mortgage | $5.1 billion |
| 5. | Wells Fargo | $4.1 billion |
| 6. | First House Mortgage | $3.9 billion |
| 7. | Mr. Cooper | $3.6 billion |
| 8. | U.S. Financial institution | $3.5 billion |
| 9. | UWM | $3.1 billion |
| 10. | Caliber House Loans | $2.9 billion |
As said, Rocket Mortgage led the way in which in Maryland with an admirable $8.7 billion in house mortgage quantity in 2021, per HMDA knowledge courtesy of Richey Could.
That was greater than sufficient to beat out second place Pennymac’s $6 billion. Many shoppers could not even acknowledge Pennymac as they do a whole lot of enterprise by way of the correspondent channel.
This implies their product is resold by smaller corporations, whether or not it’s a neighborhood credit score union or financial institution.
In third was Truist with a really shut $5.7 billion – the financial institution can also be headquartered comparatively near Maryland in Charlotte, North Carolina.
Freedom Mortgage took the fourth slot with $5.1 billion, whereas Wells Fargo grabbed fifth with $4.1 billion.
The remainder of prime 10 included First House Mortgage, Mr. Cooper, U.S. Financial institution, United Wholesale Mortgage (UWM), and Caliber House Loans.
First House Mortgage is a neighborhood mortgage lender based mostly in Baltimore, MD.
High Maryland Mortgage Lenders (for House Patrons)
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | Truist Monetary | $2.5 billion |
| 2. | First House Mortgage | $2.5 billion |
| 3. | Pennymac | $2.4 billion |
| 4. | U.S. Financial institution | $2.2 billion |
| 5. | Caliber House Loans | $1.5 billion |
| 6. | Wells Fargo | $1.4 billion |
| 7. | Rocket Mortgage | $1.4 billion |
| 8. | AmeriHome Mortgage | $1.2 billion |
| 9. | UWM | $1.2 billion |
| 10. | NVR Mortgage | $1.1 billion |
If we solely have in mind house buy loans, Truist holds prime honors within the state with $2.5 billion funded.
It seemed to be simply sufficient to stop native lender First House Mortgage (additionally rounded as much as $2.5 billion) from being #1 for house patrons in Maryland.
Third placed-Pennymac was additionally proper on their heels with $2.4 billion in house buy loans funded final 12 months.
U.S. Financial institution was additionally within the combine with $2.2 billion funded, adopted by Caliber House Loans with $1.5 billion.
The opposite 5 within the prime 10 included Wells Fargo, Rocket Mortgage, AmeriHome Mortgage, UWM, and NVR Mortgage.
NVR Mortgage is definitely a wholly-owned subsidiary of house builder NVR, Inc., the mum or dad firm of Ryan Houses, NVHomes, and Heartland Houses.
High Maryland Refinance Lenders (for Current Owners)
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | Rocket Mortgage | $7.3 billion |
| 2. | Freedom Mortgage | $4.2 billion |
| 3. | Pennymac | $3.7 billion |
| 4. | Truist Monetary | $3.1 billion |
| 5. | Mr. Cooper | $2.6 billion |
| 6. | Wells Fargo | $2.5 billion |
| 7. | loanDepot | $2.4 billion |
| 8. | Newrez | $2.0 billion |
| 9. | UWM | $1.9 billion |
| 10. | AmeriHome Mortgage | $1.5 billion |
After we filter out the loans to house patrons, and focus solely on mortgage refinances to current owners, Rocket Mortgage is definitely the highest lender within the state of Maryland.
The Detroit-based mortgage big funded $7.3 billion in refis there final 12 months, practically doubling the amount of second place Freedom Mortgage.
Pennymac had one other sturdy exhibiting with $3.7 billion funded for third place, adopted by Truist with $3.1 billion and Mr. Cooper with $2.6 billion.
Locations six by 10 went to Wells Fargo, loanDepot, Newrez, UWM, and AmeriHome Mortgage.
All in all, there weren’t a whole lot of shockers right here, with massive nationwide manufacturers taking all the highest spots.
Maybe the one shock is that no Maryland-based mortgage lenders made the listing.
Who Is the Greatest Mortgage Lender in Maryland?
If we’re speaking greatest, and never the largest, as seen within the lists above, totally different names may take the cake.
Whereas First House Mortgage does have a stellar 4.98-star ranking on Zillow from over 7,500 buyer evaluations, different Maryland-based mortgage corporations like NFM Lending and Homespire Mortgage do too.
Actually, Homespire has a 4.98-star ranking additionally, and NFM has a 4.96-star ranking. In the meantime, Rockville, MD-based Apex House Loans holds a superior 4.99-star ranking.
Equally sturdy rankings will be discovered at Homeside Monetary and Direct Mortgage Loans, LLC, each natives of Maryland.
So whereas massive is one factor, greatest may be one other. Otherwise you would possibly get fortunate and discover the greatest of each worlds in a single lender.
Both approach, take the time to take a look at a couple of lender if you wish to discover the most effective match and pricing in your house mortgage wants.
(photograph: Lee Cannon)
