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High Mortgage Lenders within the State of Massachusetts

Now let’s try the highest mortgage lenders in Massachusetts, based mostly on mortgage quantity.

In 2021, roughly $164 billion in dwelling loans have 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.

High 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 general was Chicago, Illinois-based direct lender Assured Price with $7.9 billion funded, per HMDA information 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, respectable however maybe it may 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.

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

High Massachusetts Mortgage Lenders (for House 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 likely to gravitate to native firms 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 firms, 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 have been jumbo mortgage specialist First Republic Financial institution, UWM, CrossCountry Mortgage, Guild Mortgage, and Residents Financial institution.

High Massachusetts Refinance Lenders (for Current Owners)

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 ordinary, Rocket Mortgage got here in first when buy loans have been filtered out from the highest lender checklist.

They’re usually the refinance leaders (apart from 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 by 10 was loanDepot, U.S. Financial institution, Newrez, Financial institution of America, and Mr. Cooper.

No enormous surprises, and as soon as once more just one Massachusetts-based firm due to Chief Financial institution.

Who Are the Finest 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 largest gamers additionally one of the best on the market, or are there higher choices by way of buyer satisfaction, pricing, and so forth?

Whereas it’s arduous to know, given the various completely different rankings web sites and standards, I did somewhat little bit of digging.

As famous, Assured Price was #1 within the state, and that is perhaps largely attributable to Waltham, MA-based prime producer Shant Banosian.

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

His firm as a complete has a 4.96/5 score general from practically 20,000 opinions.

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

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

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

However as I all the time say, take the time to contemplate lenders massive 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 to collect just a few quotes throughout the discovery course of to make sure you get a good suggestion of what’s on the market in terms of pricing and repair.

(photograph: David Wilson)



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