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Immediately we’ll take a tough take a look at the highest mortgage lenders in Tennessee by mortgage quantity.
Final yr, practically 1,200 mortgage corporations battled it out for first place, however just one may declare the highest spot.
Collectively, these lenders funded about $102 billion in mortgages in The Volunteer State, which was doubtless an annual document.
Regardless of being situated a pair states due north of Tennessee, Rocket Mortgage was the highest lender within the state.
Learn on to see who else made the highest 10 listing.
High Mortgage Lenders in Tennessee (General)
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | Rocket Mortgage | $5.6 billion |
| 2. | Pennymac | $3.6 billion |
| 3. | U.S. Financial institution | $2.7 billion |
| 4. | Wells Fargo | $2.6 billion |
| 5. | Mortgage Traders Group | $2.6 billion |
| 6. | Pinnacle Financial institution | $2.3 billion |
| 7. | FirstBank | $2.2 billion |
| 8. | AmeriHome Mortgage | $2.2 billion |
| 9. | Freedom Mortgage | $2.2 billion |
| 10. | loanDepot | $2.1 billion |
Rocket Mortgage got here in first with $5.6 billion in residence mortgage quantity within the state of Tennessee throughout 2021, per HMDA knowledge from Richey Might.
The Detroit-based firm had no drawback beating out the competitors, with second place Pennymac solely capable of muster $3.6 billion in annual mortgage quantity.
They had been trailed by U.S. Financial institution with $2.7 billion and Wells Fargo with $2.6 billion funded.
In fifth was Knoxville, Tennessee’s personal Mortgage Traders Group (MIG) with $2.6 billion.
The remainder of the highest 10 included Nashville-based Pinnacle Financial institution and FirstBank, AmeriHome Mortgage, Freedom Mortgage, and loanDepot.
General, three of the highest 10 mortgage corporations in Tennessee are primarily based within the state.
High Tennessee Mortgage Lenders (for Residence Patrons)
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | Mortgage Traders Group | $1.9 billion |
| 2. | Pennymac | $1.8 billion |
| 3. | Motion Mortgage | $1.4 billion |
| 4. | U.S. Financial institution | $1.3 billion |
| 5. | Pinnacle Financial institution | $1.1 billion |
| 6. | AmeriHome Mortgage | $1.1 billion |
| 7. | Rocket Mortgage | $1.1 billion |
| 8. | Wells Fargo | $1.1 billion |
| 9. | FirstBank | $1.0 billion |
| 10. | Veterans United | $983 million |
After we deal with residence patrons solely, Mortgage Traders Group (MIG) took the cake with $1.9 billion funded.
As I at all times say, residence patrons are likely to gravitate towards native corporations as a result of it’s such a giant monetary second.
In second was Pennymac with an in depth $1.8 billion, adopted by Motion Mortgage with $1.4 billion funded.
Fourth went to U.S. Financial institution with $1.3 billion in mortgage origination quantity, whereas native Pinnacle Financial institution snagged fifth with $1.1 billion.
The underside half of the highest 10 included AmeriHome Mortgage, Rocket Mortgage, Wells Fargo, FirstBank, and Veterans United Residence Loans.
Once more, three of the highest 10 had been truly headquartered within the state of Tennessee.
High Refinance Lenders in Tennessee
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | Rocket Mortgage | $4.5 billion |
| 2. | Freedom Mortgage | $1.9 billion |
| 3. | Pennymac | $1.8 billion |
| 4. | Wells Fargo | $1.5 billion |
| 5. | loanDepot | $1.4 billion |
| 6. | U.S. Financial institution | $1.3 billion |
| 7. | Mr. Cooper | $1.3 billion |
| 8. | UWM | $1.1 billion |
| 9. | AmeriHome Mortgage | $1.1 billion |
| 10. | Areas Financial institution | $1.0 billion |
After we flip our consideration to mortgage refinances, reserved for current householders, Rocket Mortgage actually blasts off.
The corporate funded $4.5 billion in refis within the state final yr, greater than doubling the quantity of second positioned Freedom Mortgage’s $1.9 billion.
In third was Pennymac with $1.8 billion – the SoCal primarily based firm acts principally as a correspondent lender, which means their product is resold by smaller banks and credit score unions.
Taking fourth was former #1 (nationally) Wells Fargo with $1.5 billion funded, adopted by loanDepot with $1.4 billion.
In sixth was U.S. Financial institution, adopted by Mr. Cooper, United Wholesale Mortgage (UWM), AmeriHome Mortgage, and Areas Financial institution.
When it got here to refis, no Tennessee-based firm made the top-10 listing. This isn’t an enormous shock since they’re price-driven versus relationship-driven.
High Mortgage Lenders in Nashville
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | Rocket Mortgage | $2.3 billion |
| 2. | U.S. Financial institution | $1.5 billion |
| 3. | FirstBank | $1.4 billion |
| 4. | Pinnacle Financial institution | $1.4 billion |
| 5. | loanDepot | $1.3 billion |
| 6. | Pennymac | $1.2 billion |
| 7. | Wells Fargo | $1.2 billion |
| 8. | Chase | $1.1 billion |
| 9. | AmeriHome Mortgage | $988 million |
| 10. | UWM | $974 million |
High Mortgage Lenders in Memphis
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | Rocket Mortgage | $947 million |
| 2. | Neighborhood Mortgage Corp. | $652 million |
| 3. | Pennymac | $641 million |
| 4. | Wells Fargo | $592 million |
| 5. | U.S. Financial institution | $491 million |
| 6. | Freedom Mortgage | $471 million |
| 7. | First Tennessee Financial institution | $360 million |
| 8. | Patriot Financial institution | $355 million |
| 9. | AmeriHome Mortgage | $344 million |
| 10. | Pinnacle Financial institution | $335 million |
The Greatest Tennessee Mortgage Lenders
After we flip our consideration to buyer critiques as an alternative of mortgage quantity, we are able to get a greater guess concerning who the perfect Tennessee mortgage lenders are.
In any case, a giant firm can originate quite a lot of loans and nonetheless have mediocre customer support.
So I headed to Zillow to take a look at the critiques for Tennessee-based mortgage lenders.
The one one from the listing above was Mortgage Traders Group (MIG). They usually had a stable 4.97/5 ranking from over 2,700 critiques.
Others not on the lists above included Acopia Residence Loans (4.95/5), Churchill Mortgage (4.96/5), Correct Mortgage Group (4.98/5), and Financial institution of Tennessee (4.99/5).
If you wish to keep native, there are many highly-rated mortgage lenders within the state.
However in the event you don’t, most of the corporations within the lists above additionally include stellar critiques.
As at all times, take the time to do your analysis and comparability store to make sure you discover the fitting match to your state of affairs.
