Top 20 Biggest Mortgage Companies in the US
In this article, we will take a look at the top 20 biggest mortgage companies in the US. If you want to skip our detailed analysis, you can go directly to the Top 5 Biggest Mortgage Companies in the US.
Are US Citizens Resorting to Renting Homes?
According to a report by S&P Global, mortgage origination and securitization activity is expected to expand in 2024. Such is primarily due to normalizing economic conditions. The housing market in the United States has been extremely resilient despite an impending affordability crisis. The Housing Finance Agency home price index expanded by 6.2% between December 2022 and October 2023. In the third quarter of 2023, the rental vacancy rate in the United States was reported at 6.6%. This was lower than the 50-year average of 7.4% and significantly below the peak of 11.1% in 2009. The demand and supply disequilibrium has significantly pushed residents in the United States to rent houses instead of purchasing them. As per the report, the 30-year fixed-rate mortgage (FRM) is expected to hit 6.8% in 2024, the highest annual rate in 20 years. Overall non-agency issuance is expected to grow in 2024. However, expanding mortgage rates supported by the lack of adequate housing supply may deeply influence the relationship between the buying and renting markets.
Leading Mortgage Companies in the United States
Some of the leading mortgage companies in the United States include Rocket Companies, Inc. (NYSE:RKT), UWM Holdings Corporation (NYSE:UWMC), and Mr. Cooper Group Inc. (NASDAQ:COOP). Let's discuss some recent updates from these companies. you can also take a look at the best mortgage insurance companies heading into 2024.
Rocket Companies, Inc. (NYSE:RKT) is a leading mortgage company in the United States. On February 5, Rocket Companies, Inc.'s (NYSE:RKT) subsidiary, Rocket Homes Real Estate LLC announced that its real estate search app will now be functional on the Apple Vision Pro. Users can use the app to virtually visit properties they wish to buy. Once the app is launched on the Apple Vision Pro, users can see a list of available homes based on a user's current location. Users can then take a virtual tour of homes to see if the potential options meet their needs. Users can also enable Apple's SharePlay to show other family members what they see via FaceTime.
UWM Holdings Corporation (NYSE:UWMC) is one of the major mortgage lenders in the United States. Customer convenience is at the core of its business operations. On January 17, UWM Holdings Corporation (NYSE:UWMC) announced the company is rebranding its consumer-facing website to "Mortgage Matchup." The new website is geared towards homebuyers and real estate agents. The website provides educational material on home-buying and financing. Additionally, the website also helps users find independent mortgage brokers in their vicinity. Ultimately, the company aims to connect users with local mortgage brokers.
Mr. Cooper Group Inc. (NASDAQ:COOP) is a leading mortgage servicing company in the United States. The company performs activities for underlying mortgages and originates mortgage loans directly to the customer. On February 9, Mr. Cooper Group Inc. (NASDAQ:COOP) reported earnings for the fiscal fourth quarter of 2023. The company reported earnings per share of $1.71, beating estimates by $0.45. The company also reported revenue worth $404 million during the quarter, with a year-over-year revenue growth rate of 33.33%.
Without further ado, let's take a look at the top 20 biggest mortgage companies in the United States. You can also read our piece on the countries with the highest mortgage rates.
Top 20 Biggest Mortgage Companies in the US
Our Methodology
We consulted multiple industry reports and scanned the Finviz and Yahoo Finance stock screeners to come up with the top 20 biggest mortgage companies in the United States. We also consulted Forbes' rankings of mortgage companies. We then sorted publicly listed companies based on their market cap sourced from Yahoo Finance. It is to be noted that we only included pure-play mortgage companies on our list. Therefore, big names such as the Bank of America or JP Morgan did not make it to the list. For private companies, we were unable to source the reported annual revenue. For such companies, we decided to rank them based on the number of employees, which we sourced from companies' official websites, as it reflects the size and position of a company in the industry. The number of employees may not be entirely accurate to quantify a company's valuation, but a close depiction of the company's position in the industry.
The list of the top 20 biggest mortgage companies in the United States is in ascending order of the market capitalization as of February 11, 2024. We ranked private companies earlier in our list in ascending order of the number of employees.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Top 20 Biggest Mortgage Companies in the US
20. Planet Home Lending
Number of Employees: 1,001-5,000
Planet Home Lending is one of the biggest mortgage companies in the United States. The company has a servicing portfolio of $64 billion and is home to over 211,000 customers. The company provides buying options and refinancing options to its customers. It also helps users find a loan originator. Along with that, the company also provides extensive homeowner assistance.
19. Movement Mortgage
Number of Employees: 4,500
Movement Mortgage ranks 19th on our list of the top 20 biggest mortgage companies in the United States. The company provides approved loans and refinancing options to consumers. The company offers over 3,000 products to help lenders pick the best housing option that suits their needs. The company allocates 10% of its profits to give back to the community, making it a large-impact lender.
18. Caliber Home Loans
Number of Employees: 5,000 - 10,001
Caliber Home Loans is a product of Newrez, a leading financial services company. The company provides a range of home lending options personalized for each customer. Consumers can either find refinancing options or buy a new home through the website. Other features of the company include consultancy and military lending services.
17. CrossCountry Mortgage
Number of Employees: 7,000
With 7,000 employees, CrossCountry Mortgage ranks as one of the biggest mortgage companies in the United States. The company is a leading mortgage lender and helps customers find personalized financing options for their homes. The company also has a comprehensive homebuying and refinancing guide on its website to help users identify important steps and their financing options.
16. Fairway Independent Mortgage Corporation
Number of Employees: 10,500
Fairway Independent Mortgage Corporation ranks 16th on our list of the biggest mortgage companies in the United States. The company was founded in 1996, The company has more than 345 branches across the globe. The company helps customers find the best mortgage rates with the best turn times. The company provides personalized solutions to each customer. Fairway Independent Mortgage Corporation funded $27.5 billion in loans in 2023.
15. Guaranteed Rate
Number of Employees: 15,000
Guaranteed Rate ranks as one of the biggest mortgage companies in the United States. The company is based in Chicago, Illinois, and was founded in 2000. The company is a pioneer in digital mortgages. The company also offers face-to-face customer service through its branches across the country. The company also provides users with buying tips and refinancing tips.
14. Security National Financial Corporation (NASDAQ:SNFCA)
Market Capitalization as of February 12, 2024: $183.61 Million
With a market capitalization of $183.61 million, Security National Financial Corporation (NASDAQ:SNFCA) ranks as one of the biggest mortgage companies in the United States. The company originates and underwrites commercial and residential loans for existing homes, new homes, and real estate projects. Security National Financial Corporation (NASDAQ:SNFCA) was founded in 1965 and is headquartered in Utah.
13. Ocwen Financial Corporation (NYSE:OCN)
Market Capitalization as of February 12, 2024: $227.93 Million
Ocwen Financial Corporation (NYSE:OCN) ranks 13th on our list of the biggest mortgage companies in the United States. The company originates and services mortgage loans in the United States. The company provides commercial mortgage loan servicing, special serving, asset management services, and residential mortgage loan servicing. Ocwen Financial Corporation (NYSE:OCN) has a market capitalization of $227.93 million and was founded in 1988.
12. Greystone Housing Impact Investors LP (NYSE:GHI)
Market Capitalization as of February 12, 2024: $383.80 Million
Greystone Housing Impact Investors LP (NYSE:GHI) ranks as one of the biggest mortgage companies in the United States. The company acquires, holds, and sells mortgage revenue bonds. These bonds are then provided to multifamily and student housing residential and commercial properties. Greystone Housing Impact Investors LP (NYSE:GHI) was founded in 1998 and is based in Nebraska.
11. Better Home & Finance Holding Company (NASDAQ:BETR)
Market Capitalization as of February 12, 2024: $413.90 Million
With a market capitalization of $413.9 million, the Better Home & Finance Holding Company (NASDAQ:BETR) ranks 11th on our list of the biggest mortgage companies in the United States. The homeownership company provides GSE-conforming, FHA-insured, VA-guaranteed, and jumbo loans to GSEs, banks, insurance companies, asset managers, and mortgage REITs. It also provides real estate agent services, insurance and settlement services, and homeowners insurance services. Better Home & Finance Holding Company (NASDAQ:BETR) is headquartered in New York.
10. Velocity Financial, Inc. (NYSE:VEL)
Market Capitalization as of February 12, 2024: $518.61 Million
Velocity Financial, Inc. (NYSE:VEL) ranks as one of the biggest mortgage companies in the United States. The company is a real estate finance company that manages investor loans backed by mortgage liens. It provides its services through a large network of independent mortgage brokers. Velocity Financial, Inc. (NYSE:VEL) was founded in 2004 and has a market capitalization of $518.61 million.
9. loanDepot, Inc. (NYSE:LDI)
Market Capitalization as of February 12, 2024: $826.02 Million
With a market capitalization of $826.02 million, loanDepot, Inc. (NYSE:LDI) ranks 9th on our list of the biggest mortgage companies in the United States. The company originates, finances, sells, and services residential mortgage loans in the United States. It also provides settlement services, real estate services, and insurance services to homeowners. loanDepot, Inc. (NYSE:LDI) was founded in 2010 and is based in California.
8. Guild Holdings Company (NYSE:GHLD)
Market Capitalization as of February 12, 2024: $854.745 Million
Guild Holdings Company (NYSE:GHLD) ranks among the biggest mortgage companies in the United States. The company engages in the origination, selling, and servicing of residential mortgage loans in the United States. Guild Holdings Company (NYSE:GHLD) was founded in 1960 and is headquartered in California.
7. Federal National Mortgage Association (OTC:FNMA)
Market Capitalization as of February 12, 2024: $1.53 Billion
With a market capitalization of $1.53 billion, the Federal National Mortgage Association (OTC:FNMA) ranks as one of the biggest mortgage companies in the US. The company offers mortgage financing solutions across two segments including single-family and multi-family. Under the single-family segment, the company securitizes and purchases single-family mortgage loans and mortgage-related securities. Under the multi-family segment, the company securitizes multifamily mortgage loans and converts them into Fanni Mae mortgage-backed securities. Federal National Mortgage Association (OTC:FNMA) was founded in 1938 and is based in Washington.
6. Walker & Dunlop, Inc. (NYSE:WD)
Market Capitalization as of February 12, 2024: $3.18 Billion
Walker & Dunlop, Inc. (NYSE:WD) ranks sixth on our list of the biggest mortgage companies in the United States. The company provides first mortgage, second trust, supplemental, construction, preferred equity, and small balance loans. Under its Fannie Mae's DUS program, the company provides financing for multifamily, manufactured housing communities, student housing, affordable housing, and senior housing. Walker & Dunlop, Inc. (NYSE:WD) was founded in 1937 and has a market capitalization of $3.18 billion.
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Disclosure: None. Top 20 Biggest Mortgage Companies in the US is published on Insider Monkey.
