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HomeMortgagePrime Mortgage Lenders within the State of Massachusetts

Prime Mortgage Lenders within the State of Massachusetts

Now let’s take a look at the highest mortgage lenders in Massachusetts, primarily based on mortgage quantity.

In 2021, roughly $164 billion in dwelling loans had been originated in The Bay State, making it one of many extra productive states within the nation.

As to who led the way in which, it wasn’t the nation’s primary mortgage lender, Rocket Mortgage.

It was Chicago-based Assured Price, which outmuscled the competitors regardless of being solely the thirteenth largest mortgage lender nationwide.

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

Prime Mortgage Lenders in Massachusetts (General)

Rating Firm Identify 2021 Mortgage Quantity
1. Assured Price $7.9 billion
2. Rocket Mortgage $7.2 billion
3. Chase $6.1 billion
4. Chief Financial institution $5.9 billion
5. Residents Financial institution $5.2 billion
6. U.S. Financial institution $4.7 billion
7. Fairway Unbiased $3.7 billion
8. UWM $3.6 billion
9. Financial institution of America $3.5 billion
10. Newrez $3.5 billion

Taking the highest spot total was Chicago, Illinois-based direct lender Assured Price with $7.9 billion funded, per HMDA knowledge from Richey Could.

That was greater than sufficient (though it was shut) to beat out Rocket Mortgage, which got here in second with $7.2 billion.

New York Metropolis-based JPMorgan Chase took third with $6.1 billion funded, first rate however maybe it might have been higher given their proximate location.

A pair of banks, Chief Financial institution and Residents Financial institution, took fourth and fifth with $5.9 billion and $5.2 billion, respectively.

The remainder of the highest 10 included U.S. Financial institution, Fairway Unbiased Mortgage, United Wholesale Mortgage (UWM), Financial institution of America, and Newrez.

Observe that Chief Financial institution was the one Massachusetts-based firm within the prime 10.

Prime Massachusetts Mortgage Lenders (for Residence Consumers)

Rating Firm Identify 2021 Mortgage Quantity
1. Assured Price $3.5 billion
2. Chief Financial institution $2.9 billion
3. Chase $2.7 billion
4. Fairway Unbiased $1.9 billion
5. U.S. Financial institution $1.8 billion
6. First Republic Financial institution $1.6 billion
7. UWM $1.6 billion
8. CrossCountry Mortgage $1.5 billion
9. Guild Mortgage $1.4 billion
10. Residents Financial institution $1.3 billion

Once we flip our consideration to dwelling buy lending, Assured Price retains its maintain on the highest spot with $3.5 billion funded.

However Chief Financial institution climbs the ranks to nab the second spot with $2.9 billion funded. As I all the time say, dwelling consumers are inclined to gravitate to native corporations for dwelling buy financing.

This was additionally true of third place Chase, being headquartered within the Northeast, which managed $2.7 billion in buy loans.

A pair of Midwestern corporations, Fairway Unbiased and U.S. Financial institution, took fourth and fifth with $1.9 billion and $1.8 billion, respectively.

The opposite dwelling buy leaders had been jumbo mortgage specialist First Republic Financial institution, UWM, CrossCountry Mortgage, Guild Mortgage, and Residents Financial institution.

Prime Massachusetts Refinance Lenders (for Present Householders)

Rating Firm Identify 2021 Mortgage Quantity
1. Rocket Mortgage $6.0 billion
2. Assured Price $4.5 billion
3. Residents Financial institution $3.4 billion
4. Chase $3.3 billion
5. Chief Financial institution $2.9 billion
6. loanDepot $2.9 billion
7. U.S. Financial institution $2.8 billion
8. Newrez $2.4 billion
9. Financial institution of America $2.2 billion
10. Mr. Cooper $2.0 billion

Per common, Rocket Mortgage got here in first when buy loans had been filtered out from the highest lender checklist.

They’re sometimes the refinance leaders (other than additionally being #1 nationally) and had no downside topping the Massachusetts checklist with $6 billion funded.

In second was Assured Price with $4.5 billion, adopted by Residents Financial institution with $3.4 billion.

Chase was a detailed fourth with $3.3 billion, and native Chief Financial institution grabbed fifth with $2.9 billion.

In sixth via 10 was loanDepot, U.S. Financial institution, Newrez, Financial institution of America, and Mr. Cooper.

No big surprises, and as soon as once more just one Massachusetts-based firm because of Chief Financial institution.

Who Are the Greatest Massachusetts Mortgage Lenders?

So now we all know which banks and mortgage lenders originated probably the most dwelling loans within the state of Massachusetts in 2021.

However are the most important gamers additionally one of the best on the market, or are there higher choices when it comes to buyer satisfaction, pricing, and so forth?

Whereas it’s onerous to know, given the numerous completely different scores web sites and standards, I did a little bit little bit of digging.

As famous, Assured Price was #1 within the state, and that is likely to be largely on account of Waltham, MA-based prime producer Shant Banosian.

He’s been the highest producing mortgage officer within the nation (total) for a number of years and his private ranking on Zillow is a 4.99/5 from round 330 evaluations.

His firm as a complete has a 4.96/5 ranking total from almost 20,000 evaluations.

In the meantime, Massachusetts’ personal Chief Financial institution has a 4.98/5 ranking on Zillow from over 800 buyer evaluations.

Rocket Mortgage additionally has a strong 4.48/5 ranking on Zillow from about 8,000 evaluations, whereas Chase’s mortgage division has a 4.95/5 from 7,000+ evaluations and Residents Financial institution has a 4.96/5 from over 2,000 evaluations.

So it’s clear that a lot of largest lenders within the state of Massachusetts even have glorious buyer satisfaction scores.

However as I all the time say, take the time to contemplate lenders giant and small, native and distant.

You would possibly discover a good match with a small credit score union, boutique lender, low cost on-line lender, or a mortgage dealer.

Both manner, make sure you collect a couple of quotes throughout the discovery course of to make sure you get a good suggestion of what’s on the market with regards to pricing and repair.

(photograph: David Wilson)



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