Table of Contents
Right now we’ll check out the highest mortgage lenders in Pennsylvania based mostly on their annual mortgage quantity.
The state of Pennsylvania is exclusive in that it borders each the Midwest and the Northeast.
This implies shoppers would possibly gravitate towards a giant NYC-based financial institution or a smaller, unbiased mortgage lender situated nearer to say Ohio.
Regardless of these regional nuances, the nation’s prime mortgage lender additionally grabbed the highest spot in The Keystone State.
Learn on to see who the opposite large mortgage gamers are in Pennsylvania.
Prime Mortgage Lenders in Pennsylvania (General)
| Rating | Firm Title | 2021 Mortgage Quantity |
| 1. | Rocket Mortgage | $7.9 billion |
| 2. | Wells Fargo | $7.3 billion |
| 3. | Residents Financial institution | $5.0 billion |
| 4. | Allied Mortgage Group | $4.1 billion |
| 5. | Pennymac | $3.2 billion |
| 6. | CrossCountry Mortgage | $3.0 billion |
| 7. | AmeriHome Mortgage | $3.0 billion |
| 8. | PNC Financial institution | $2.9 billion |
| 9. | Newrez | $2.9 billion |
| 10. | Freedom Mortgage | $2.6 billion |
You guessed it. The highest mortgage lender in Pennsylvania was none aside from Rocket Mortgage, which by the way can also be the nation’s #1 lender.
The Detroit-based firm originated $7.9 billion in house loans final yr, per HMDA information from Richey Might.
That was sufficient to beat out second place Wells Fargo, which got here shut with $7.3 billion funded in the course of the yr.
In third place was Windfall, Rhode Island-based Residents Financial institution with $5 billion in house mortgage quantity.
Allied Mortgage Group grabbed fourth with $3.2 billion, whereas large correspondent lender Pennymac took fifth with $3 billion.
Others within the prime 10 included CrossCountry Mortgage, AmeriHome Mortgage, PNC Financial institution, Newrez, and Freedom Mortgage.
Three of the businesses are literally based mostly in Pennsylvania, together with Allied Mortgage Group (Bala Cynwyd), PNC Financial institution (Pittsburgh), and Newrez (Fort Washington).
Prime Pennsylvania Mortgage Lenders (for House Patrons)
| Rating | Firm Title | 2021 Mortgage Quantity |
| 1. | Wells Fargo | $3.0 billion |
| 2. | Allied Mortgage | $2.4 billion |
| 3. | CrossCountry Mortgage | $2.0 billion |
| 4. | Residents Financial institution | $1.8 billion |
| 5. | AmeriHome Mortgage | $1.6 billion |
| 6. | Pennymac | $1.6 billion |
| 7. | Rocket Mortgage | $1.5 billion |
| 8. | Assured Fee | $1.4 billion |
| 9. | Prosperity House | $1.2 billion |
| 10. | Chase | $1.1 billion |
If we focus solely on house buy loans, Wells Fargo topped the listing with $3 billion funded within the state of Pennsylvania.
They had been adopted by Allied Mortgage Group with $2.4 billion and Ohio-based CrossCountry Mortgage with $2 billion.
It is smart that each these firms did so properly as house consumers have a tendency to show to native lenders when it includes a house buy.
Residents Financial institution took fourth with $1.8 billion, whereas AmeriHome got here in a detailed fifth with $1.6 billion.
The remainder of the highest 10 included Pennymac, Rocket Mortgage, Assured Fee, Prosperity House Mortgage, and Chase.
Prime Pennsylvania Refinance Lenders (for Current Owners)
| Rating | Firm Title | 2021 Mortgage Quantity |
| 1. | Rocket Mortgage | $6.2 billion |
| 2. | Wells Fargo | $4.0 billion |
| 3. | Residents Financial institution | $2.8 billion |
| 4. | Freedom Mortgage | $2.1 billion |
| 5. | PNC Financial institution | $2.1 billion |
| 6. | loanDepot | $1.8 billion |
| 7. | Newrez | $1.8 billion |
| 8. | Allied Mortgage | $1.7 billion |
| 9. | Pennymac | $1.6 billion |
| 10. | Mr. Cooper | $1.6 billion |
If we filter the listing to solely embrace mortgage refinances, Rocket Mortgage was the highest canine with $6.2 billion funded.
That was greater than sufficient to beat out second place Wells Fargo’s $4 billion, and Citizen Financial institution’s $2.8 billion.
In fourth was Freedom Mortgage with $2.1 billion, adopted by Pennsylvania’s personal PNC Financial institution with the same quantity.
loanDepot, Newrez, Allied Mortgage Group, Pennymac, and Mr. Cooper rounded out the highest 10.
So no main surprises right here as present owners usually use large banks and family name-lenders when in search of a refinance.
Prime Mortgage Lenders in Philadelphia
| Rating | Firm Title | 2021 Mortgage Quantity |
| 1. | Allied Mortgage | $1.3 billion |
| 2. | Wells Fargo | $1.2 billion |
| 3. | Rocket Mortgage | $1.0 billion |
| 4. | CrossCountry Mortgage | $823 million |
| 5. | Assured Fee | $798 million |
| 6. | New York Neighborhood Financial institution | $750 million |
| 7. | Residents Financial institution | $744 million |
| 8. | Chase | $608 million |
| 9. | AmeriHome Mortgage | $579 million |
| 10. | loanDepot | $557 million |
Prime Mortgage Lenders in Pittsburgh
| Rating | Firm Title | 2021 Mortgage Quantity |
| 1. | Residents Financial institution | $1.4 billion |
| 2. | PNC Financial institution | $1.3 billion |
| 3. | Rocket Mortgage | $1.2 billion |
| 4. | Wells Fargo | $1.0 billion |
| 5. | Greenback Financial institution | $942 million |
| 6. | First Nationwide Financial institution | $686 million |
| 7. | First Commonwealth | $493 million |
| 8. | AmeriHome Mortgage | $481 million |
| 9. | Pennymac | $413 million |
| 10. | Inexpensive Mortgage Advisors | $408 million |
The Greatest Pennsylvania Mortgage Lenders Might or Might Not Be Listed Above
It’s vital to distinguish prime and greatest, as one refers to measurement and the opposite buyer satisfaction.
On the similar time, the 2 phrases can apply to 1 firm, assuming it’s each massive and beloved by its purchasers.
If we use the J.D. Energy satisfaction survey as a barometer, Rocket was second on that listing in 2021 (solely overwhelmed by Guild Mortgage), whereas Wells Fargo and Residents had been beneath the business common.
In the meantime, PNC was merely common, Pennymac beneath common, and Newrez was on the backside of the listing when it comes to satisfaction.
Conversely, CrossCountry Mortgage ranked close to the highest simply behind Rocket, and loanDepot additionally had stable marks.
In different phrases, firm measurement and excessive rankings don’t at all times go hand-in-hand, so you want to put within the time to analysis.
Keep in mind, you’re not shopping for a washer, you’re getting a mortgage that would stick with you for 30 years.
Take the time to learn firm critiques, try third-party rankings web sites, and ask for referrals from family and friends.
As I at all times say, you would possibly discover a small, native credit score union or mortgage dealer that could be a higher match than a large lender. Otherwise you would possibly need to go together with a family identify.
Both method, collect a number of quotes and converse to a handful of various firms so you will get a greater really feel for what’s on the market.
