Now it’s time to try the highest mortgage lenders in Florida primarily based on 2022 quantity.
The Sunshine State is the most important mortgage market exterior of California, with a couple of 8% share of the nationwide market.
In 2022, roughly $228 billion in house loans have been originated there throughout what was a bittersweet yr for mortgage lenders. For comparability sake, lenders closed about $350 billion a yr earlier.
Let’s check out which lenders dominated the state, damaged down by totally different classes.
As I at all times say, largest doesn’t essentially imply finest, however it’s good to know who the gamers are.
High Mortgage Lenders in Florida (General)
| Rating | Firm Title | 2022 Mortgage Quantity |
| 1. | UWM | $15.3 billion |
| 2. | Rocket Mortgage | $11.3 billion |
| 3. | Chase | $5.4 billion |
| 4. | Wells Fargo | $5.0 billion |
| 5. | Financial institution of America | $4.9 billion |
| 6. | loanDepot | $4.5 billion |
| 7. | Truist | $3.8 billion |
| 8. | CrossCountry Mortgage | $3.8 billion |
| 9. | DHI Mortgage | $3.7 billion |
| 10. | Caliber Dwelling Loans | $3.6 billion |
Pontiac, Michigan-based United Wholesale Mortgage (UWM) was the highest mortgage lender within the state of Florida final yr, per HMDA knowledge visualized by Richey Might.
They simply beat out Rocket Mortgage by about $4 billion, the latter of which has been #1 nationally for some time now.
UWM funded roughly $15.3 billion in house loans, whereas Rocket (previously often called Quicken Loans) managed to fund $11.3 billion, which represents a 7% and 5% market share within the state, respectively.
Final yr may mark the primary time UWM has overwhelmed their cross-town rival hailing from Detroit.
Coming in third was JPMorgan Chase with $5.4 billion, adopted by Wells Fargo with $5 billion, spectacular given their quite a few mortgage scandals.
Rounding out the highest 5 was Financial institution of America with $4.9 billion in funded house loans through the yr, giving depositories an honest chunk of the pie.
Others within the top-10 record included loanDepot, Truist, CrossCountry Mortgage, DHI Mortgage (house builder D.R. Horton’s financing division), and Caliber Dwelling Loans.
High Mortgage Lenders in Florida (for Dwelling Purchases)
| Rating | Firm Title | 2022 Mortgage Quantity |
| 1. | UWM | $11.6 billion |
| 2. | Rocket Mortgage | $4.5 billion |
| 3. | DHI Mortgage | $3.7 billion |
| 4. | CrossCountry Mortgage | $3.2 billion |
| 5. | Chase | $3.2 billion |
| 6. | Lennar Mortgage | $3.0 billion |
| 7. | Wells Fargo | $2.8 billion |
| 8. | Caliber Dwelling Loans | $2.8 billion |
| 9. | loanDepot | $2.4 billion |
| 10. | Truist | $2.1 billion |
Now let’s fine-tune the record to solely take a look at house buy loans, these reserved for house consumers versus present householders.
Topping this record was UWM, whose $11.6 billion in house mortgage quantity beat out Rocket’s $4.5 billion.
UWM really topped this record in 2021 as nicely and even elevated their greenback quantity year-over-year.
DHI Mortgage gained a number of spots within the house buy record, rising to 3rd with $3.7 billion, nicely under the 2 heavy hitters.
Related quantity was seen by CrossCountry Mortgage and Chase with about $3.2 billion every.
The remainder of the perfect included Lennar Mortgage (additionally a house builder), Wells Fargo, Caliber Dwelling Loans, loanDepot, and Truist.
This record will probably be more and more essential because the mortgage market shifts towards buy lending.
For context, the refinance share of mortgage functions hit 26.9% final week, per the Mortgage Bankers Affiliation (MBA). So lenders will need to give attention to buy enterprise shifting ahead.
It’s attention-grabbing to see two house builders within the top-10 record, a rarity up till just lately with present provide now grappling with the mortgage charge lock-in impact.
High Mortgage Lenders in Florida (for Dwelling Refinances)
| Rating | Firm Title | 2022 Mortgage Quantity |
| 1. | Rocket Mortgage | $6.6 billion |
| 2. | UWM | $3.7 billion |
| 3. | loanDepot | $2.0 billion |
| 4. | Wells Fargo | $1.9 billion |
| 5. | Financial institution of America | $1.9 billion |
| 6. | Pennymac | $1.6 billion |
| 7. | Freedom Mortgage | $1.5 billion |
| 8. | PNC Financial institution | $1.5 billion |
| 9. | Mr. Cooper | $1.4 billion |
| 10. | Chase | $1.1 billion |
Whereas Rocket misplaced out to UWM within the house buy lending class, they reclaimed the highest place when it got here to mortgage refinances.
The Detroit-based lender originated $6.6 billion in refinance loans in Florida final yr, almost double UWM’s $3.7 billion tally.
After all, these totals have been tremendous low in comparison with the $16.8 billion and $8.3 billion realized by the pair in 2021.
In third was loanDepot with $2.0 billion, adopted by Wells Fargo within the fourth spot with $1.9 billion.
Financial institution of America snagged fifth, whereas Pennymac (made up of a number of previous Countrywide personnel) got here in sixth.
Freedom Mortgage, which had been the highest VA mortgage lender within the nation, might solely muster the seventh spot after falling from third a yr earlier.
Others within the top-10 included PNC Financial institution, Nationstar Mortgage (now often called Mr. Cooper), and Chase.
High Mortgage Lenders in Jacksonville
| Rating | Firm Title | 2022 Mortgage Quantity |
| 1. | UWM | $524 million |
| 2. | Rocket Mortgage | $404 million |
| 3. | VyStar Credit score Union | $295 million |
| 4. | loanDepot | $172 million |
| 5. | Navy FCU | $163 million |
| 6. | Financial institution of England | $162 million |
| 7. | Ameris Financial institution | $155 million |
| 8. | Financial institution of America | $144 million |
| 9. | DHI Mortgage | $140 million |
| 10. | Areas Financial institution | $133 million |
High Mortgage Lenders in Miami
| Rating | Firm Title | 2022 Mortgage Quantity |
| 1. | Chase | $1.2 billion |
| 2. | UWM | $998 million |
| 3. | Metropolis Nationwide Financial institution (FL) | $713 million |
| 4. | Financial institution of America | $704 million |
| 5. | Citibank | $658 million |
| 6. | Wells Fargo | $601 million |
| 7. | First Republic Financial institution | $488 million |
| 8. | Rocket Mortgage | $449 million |
| 9. | Morgan Stanley | $403 million |
| 10. | Paramount Residential | $365 million |
High Mortgage Lenders in Orlando
| Rating | Firm Title | 2022 Mortgage Quantity |
| 1. | UWM | $976 million |
| 2. | Rocket Mortgage | $754 million |
| 3. | 3Rivers FCU | $420 million |
| 4. | Truist | $375 million |
| 5. | Wells Fargo | $360 million |
| 6. | DHI Mortgage | $275 million |
| 7. | loanDepot | $271 million |
| 8. | Areas Financial institution | $241 million |
| 9. | FBC Mortgage | $240 million |
| 10. | Capital One | $232 million |
High Mortgage Lenders in Tampa
| Rating | Firm Title | 2022 Mortgage Quantity |
| 1. | UWM | $2.2 billion |
| 2. | Rocket Mortgage | $1.6 billion |
| 3. | Lennar Mortgage | $841 million |
| 4. | Caliber Dwelling Loans | $681 million |
| 5. | Truist | $655 million |
| 6. | loanDepot | $567 million |
| 7. | Wells Fargo | $526 million |
| 8. | DHI Mortgage | $523 million |
| 9. | Suncoast CU | $468 million |
| 10. | Financial institution of America | $438 million |
Ought to You Use One of many Largest Mortgage Lenders in Florida or Go Native?
Now apart from all of the lenders talked about, there have been dozens extra that originated a number of billion in house loans final yr within the state of Florida.
That made them huge names, regardless of not making the top-10 rankings. Examples embrace FBC Mortgage, The Mortgage Agency, and plenty of others.
So if you wish to get your mortgage from a giant title, you would nonetheless achieve this with out utilizing one of many firms listed above.
On the identical time, you may be completely completely happy going with a Florida-based credit score union or an area mortgage dealer.
On the finish of the day, everybody has totally different preferences that can dictate the place they get their house mortgage.
None of those choices are essentially higher than others, they’re simply totally different, so long as the corporate is financially sound and competent.
The one disservice you would do isn’t take the time to talk to a number of totally different lenders earlier than deciding on one.
Comparability procuring is an absolute should when acquiring a mortgage, so you should definitely put within the time whichever firm you select.
(picture: Marcin Wichary)