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Now let’s try the highest mortgage lenders in Massachusetts, based mostly on mortgage quantity.
In 2021, roughly $164 billion in house loans have been originated in The Bay State, making it one of many extra productive states within the nation.
As to who led the best way, it wasn’t the nation’s primary mortgage lender, Rocket Mortgage.
It was Chicago-based Assured Charge, 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 (Total)
| Rating | Firm Title | 2021 Mortgage Quantity |
| 1. | Assured Charge | $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 Charge 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.
Be aware that Chief Financial institution was the one Massachusetts-based firm within the high 10.
Prime Massachusetts Mortgage Lenders (for Dwelling Consumers)
| Rating | Firm Title | 2021 Mortgage Quantity |
| 1. | Assured Charge | $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 |
After we flip our consideration to house buy lending, Assured Charge 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 at all times say, house patrons are inclined to gravitate to native corporations for house 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 house buy leaders have been jumbo mortgage specialist First Republic Financial institution, UWM, CrossCountry Mortgage, Guild Mortgage, and Residents Financial institution.
Prime Massachusetts Refinance Lenders (for Present Owners)
| Rating | Firm Title | 2021 Mortgage Quantity |
| 1. | Rocket Mortgage | $6.0 billion |
| 2. | Assured Charge | $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 traditional, Rocket Mortgage got here in first when buy loans have been filtered out from the highest lender listing.
They’re usually the refinance leaders (apart from additionally being #1 nationally) and had no downside topping the Massachusetts listing with $6 billion funded.
In second was Assured Charge with $4.5 billion, adopted by Residents Financial institution with $3.4 billion.
Chase was an in depth fourth with $3.3 billion, and native Chief Financial institution grabbed fifth with $2.9 billion.
In sixth by way of 10 was loanDepot, U.S. Financial institution, Newrez, Financial institution of America, and Mr. Cooper.
No large surprises, and as soon as once more just one Massachusetts-based firm due to Chief Financial institution.
Prime Mortgage Lenders in Boston
| Rating | Firm Title | 2021 Mortgage Quantity |
| 1. | Assured Charge | $2.8 billion |
| 2. | Chief Financial institution | $2.3 billion |
| 3. | Chase | $2.3 billion |
| 4. | Rocket Mortgage | $2.2 billion |
| 5. | Residents Financial institution | $1.8 billion |
| 6. | First Republic Financial institution | $1.8 billion |
| 7. | U.S. Financial institution | $1.7 billion |
| 8. | Financial institution of America | $1.5 billion |
| 9. | Fairway Unbiased | $1.4 billion |
| 10. | loanDepot | $1.3 billion |
Who Are the Greatest Massachusetts Mortgage Lenders?
So now we all know which banks and mortgage lenders originated essentially the most house loans within the state of Massachusetts in 2021.
However are the most important gamers additionally the most effective on the market, or are there higher choices when it comes to buyer satisfaction, pricing, and so forth?
Whereas it’s laborious to know, given the numerous totally different scores web sites and standards, I did a little bit little bit of digging.
As famous, Assured Charge was #1 within the state, and that could be largely because of Waltham, MA-based high producer Shant Banosian.
He’s been the highest producing mortgage officer within the nation (general) for a number of years and his private ranking on Zillow is a 4.99/5 from round 330 critiques.
His firm as an entire has a 4.96/5 ranking general from almost 20,000 critiques.
In the meantime, Massachusetts’ personal Chief Financial institution has a 4.98/5 ranking on Zillow from over 800 buyer critiques.
Rocket Mortgage additionally has a stable 4.48/5 ranking on Zillow from about 8,000 critiques, whereas Chase’s mortgage division has a 4.95/5 from 7,000+ critiques and Residents Financial institution has a 4.96/5 from over 2,000 critiques.
So it’s clear that a lot of largest lenders within the state of Massachusetts even have wonderful buyer satisfaction scores.
However as I at all times say, take the time to think about lenders massive and small, native and distant.
You may discover a good match with a small credit score union, boutique lender, low cost on-line lender, or a mortgage dealer.
Both manner, you’ll want to collect a couple of quotes through the discovery course of to make sure you get a good suggestion of what’s on the market in terms of pricing and repair.
