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Wednesday, January 18, 2023

Prime Mortgage Lenders in Georgia

It’s time to take a look at the highest mortgage lenders in Georgia based mostly on their 2021 mortgage quantity.

These mortgage corporations outranked a couple of thousand different lenders to take the highest honors.

General, about $160 billion in dwelling loans was funded in The Peach State final yr, making it one of many larger states volume-wise nationwide.

And taking the #1 spot was Rocket Mortgage, additionally the nation’s largest mortgage lender.

Learn on to see which different corporations ranked within the prime 10.

Prime Mortgage Lenders in Georgia (General)

Rating Firm Title 2021 Mortgage Quantity
1. Rocket Mortgage $12.2 billion
2. Pennymac $6.6 billion
3. Wells Fargo $5.3 billion
4. Truist $4.7 billion
5. UWM $4.7 billion
6. Ameris Financial institution $4.0 billion
7. Newrez $3.9 billion
8. Freedom Mortgage $3.8 billion
9. AmeriHome Mortgage $3.5 billion
10. Fairway Impartial $3.1 billion

Detroit-based Rocket Mortgage, the nation’s largest mortgage lender, originated a powerful $12.2 billion in dwelling loans in Georgia final yr.

That was practically double their nearest competitor, Pennymac, per HMDA knowledge from advisory firm Richey Could.

SoCal based mostly Pennymac funded about $6.6 billion within the state final yr, and solely a couple of third of it comes by way of the retail channel.

They largely dole out loans by way of the correspondent lending channel (by way of smaller banks and credit score unions), and thru mortgage brokers within the wholesale channel.

In different phrases, your mortgage could have been originated by a distinct firm, however backed by Pennymac.

In third was San Francisco-based Wells Fargo with $5.3 billion funded, one other good exhibiting regardless of their controversies.

They have been adopted intently by Truist Monetary and United Wholesale Mortgage (UWM), each with about $4.7 billion funded.

In sixth was Atlanta, Georgia’s personal Ameris Financial institution with a wholesome $4 billion in dwelling mortgage quantity.

Newrez was an in depth seventh with $3.9 billion, adopted by Freedom Mortgage, AmeriHome, and Fairway Impartial Mortgage.

Prime Mortgage Lenders in Georgia (for Dwelling Consumers)

Rating Firm Title 2021 Mortgage Quantity
1. Pennymac $3.5 billion
2. Rocket Mortgage $2.6 billion
3. Ameris Financial institution $2.4 billion
4. UWM $2.3 billion
5. Homestar Monetary $2.2 billion
6. Truist $2.1 billion
7. Fairway Impartial $2.1 billion
8. Wells Fargo $1.9 billion
9. Newrez $1.9 billion
10. AmeriHome Mortgage $1.9 billion

If we think about solely dwelling buy lending, the checklist modifications like a bit and new names floor.

Pennymac was the #1 dwelling buy lender in Georgia with $3.5 billion funded, adopted by Rocket Mortgage with $2.6 billion.

Ameris Financial institution took third with $2.4 billion, which means about 60% of their whole mortgage enterprise is dwelling buy loans.

In fourth was UWM with $2.3 billion, adopted by Gainesville, GA-direct lender Homestar Monetary with $2.2 billion in origination quantity.

Others within the prime 10 included Truist Monetary, Fairway Impartial, Wells Fargo, Newrez, and AmeriHome.

Prime Refinance Lenders in Georgia (for Present Owners)

Rating Firm Title 2021 Mortgage Quantity
1. Rocket Mortgage $9.5 billion
2. Freedom Mortgage $3.3 billion
3. Pennymac $3.1 billion
4. Wells Fargo $3.1 billion
5. UWM $2.4 billion
6. Truist $2.2 billion
7. loanDepot $2.2 billion
8. Mr. Cooper $2.0 billion
9. Newrez $2.0 billion
10. Higher Mortgage $1.8 billion

Now let’s discuss in regards to the largest refinance lenders in Georgia. As anticipated, Rocket Mortgage completely dominated with $9.5 billion funded.

That was practically triple second place Freedom Mortgage’s $3.3 billion, a testomony to how energetic they’re within the state.

In third was Pennymac with $3.1 billion, adopted intently by Wells Fargo with roughly the identical quantity funded.

In fifth was UWM with $2.4 billion, a powerful exhibiting since they solely work with mortgage brokers by way of the wholesale channel.

The remainder of the highest 10 included Truist Monetary, loanDepot, Mr. Cooper, Newrez, and struggling lender Higher Mortgage.

Prime Mortgage Lenders in Atlanta

Rating Firm Title 2021 Mortgage Quantity
1. Rocket Mortgage $8.7 billion
2. Pennymac $4.2 billion
3. Wells Fargo $4.0 billion
4. UWM $3.7 billion
5. Truist $3.7 billion
6. Ameris Financial institution $3.1 billion
7. Newrez $3.1 billion
8. AmeriHome Mortgage $2.6 billion
9. Freedom Mortgage $2.4 billion
10. loanDepot $2.4 billion

Who Are Georgia’s Greatest Mortgage Lenders?

I sometimes head over to Zillow and test buyer evaluations to find out which mortgage corporations are faring greatest in a specific state.

Right here’s what I discovered for Georgia. Atlanta-based AmeriSave has a 4.68/5 score from over 2,400 evaluations. Not one of the best score, however essentially the most evaluations by far.

Then there’s Atlanta’s Silverton Mortgage, which has a superior 4.94/5 score from about 1,200 evaluations.

Even higher is Ameris Financial institution’s 4.95/5 score from practically 900 buyer evaluations, and fellow Atlanta lender First Choice Mortgage’s 4.97/5 from about 1,000 evaluations.

Honorable point out goes to Capital Metropolis Dwelling Loans and its 4.96/5 rating from 300 evaluations.

As for the massive, nationwide manufacturers, Rocket has a 4.48/5, Pennymac a 4.4/5, and Wells Fargo a 4.95/5.

So it seems there are many strong choices, whether or not you utilize an area, Georgia-based mortgage lender or a nationwide model.

Additionally make sure you take a look at some native mortgage brokers to see what they’ll provide.

(photograph: sailn1)

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