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Top Mortgage Lenders in Texas

austin texas

Today we’ll take a look at the top mortgage lenders in Texas based on their annual production last year.

They say everything is bigger in Texas, and that’s true when it comes to their mortgage lending volume relative to 47 other states.

Only California and Florida are bigger when the subject is doling out home loans. And they nearly double New York’s output.

The Lone Star State accounted for about six percent of national home loan volume, originating roughly $375 billion in 2021.

Let’s find out who the top lenders were in the state in a few different categories.

Top Mortgage Lenders in Texas (Overall)

RankingCompany Name2021 Loan Volume
1.Rocket Mortgage$18.7 billion
2.Chase$15.5 billion
3.Wells Fargo$13.8 billion
4.Pennymac$8.8 billion
5.Freedom Mortgage$8.7 billion
6.Lakeview Loan Servicing$8.6 billion
7.United Wholesale Mortgage$8.4 billion
8.Amerihome Mortgage$7.9 billion
9.Homepoint$7.1 billion
10.Fairway Independent$6.7 billion

Yep, Rocket Mortgage did it again, topping the overall rankings in Texas with $18.7 billion in home loan volume in 2021, per HMDA data from Richey May.

They were also number one in the states of California and Florida, so it’s no surprise they took Texas too.

The Detroit-based lender, formerly known as Quicken Loans, led the way in about 20 states nationwide.

Coming in second was JP Morgan Chase with $15.5 billion, a strong showing for a depository bank.

I say that because nonbank mortgage lenders are all the rage these days, with brick-and-mortar banks often taking a back seat.

Another bank, Wells Fargo, took third with $13.8 billion in home loan volume, despite all their scandals.

And a pair of nonbanks rounded out the top-5, including Pennymac with $8.8 billion and Freedom Mortgage with $8.7 billion.

Others in the top-10 included Lakeview Loan Servicing, United Wholesale Mortgage, Amerihome Mortgage, Homepoint, and Fairway Independent Mortgage.

Top Mortgage Lenders in Texas (for Home Purchases)

RankingCompany Name2021 Loan Volume
1.Chase$8.6 billion
2.Wells Fargo$6.6 billion
3.Lakeview Loan Servicing$6.4 billion
4.Fairway Independent$4.6 billion
5.Amerihome Mortgage$4.5 billion
6.Rocket Mortgage$4.4 billion
7.UWM$4.2 billion
8.DHI Mortgage$4.2 billion
9.Pennymac$4.2 billion
10.Cornerstone Home Lending$4.0 billion

Now let’s turn our attention to home purchase lending, which has quickly become the focus for pretty much all mortgage lenders.

Simply put, 6%+ mortgage rates mean it’s a lot more difficult to drum up refinance business. Thus, lenders are concentrating on home buyers.

In 2021, lenders in Texas had about a 55%/45% purchase to refi share. This will likely skew to the former even more in 2022.

Chase held the top spot last year with $8.6 billion in home purchase loans in the state, beating out fellow bank Wells Fargo with $6.6 billion.

Not far behind was Lakeview Loan Servicing with $6.4 billion. As the name implies, the company is both a lender and a loan servicer.

Fairway Independent Mortgage and Amerihome Mortgage took the fourth and fifth spots with $4.6 and $4.5 billion.

Then we had Rocket, UWM, DHI Mortgage (which is home builder D.R. Hortons’s financing division), Pennymac, and Cornerstone Home Lending.

Top Mortgage Lenders in Texas (for Mortgage Refinances)

RankingCompany Name2021 Loan Volume
1.Rocket Mortgage$14.1 billion
2.Freedom Mortgage$7.5 billion
3.Wells Fargo$6.6 billion
4.Chase$6.5 billion
5.Pennymac$4.6 billion
6.Homepoint$4.6 billion
7.Nationstar$4.6 billion
8.UWM$4.2 billion
9.loanDepot$3.5 billion
10.Amerihome Mortgage$3.4 billion

Finally, we’ve got mortgage refinances, which are reserved for existing homeowners.

Borrowers take out these types of loans for either a lower rate (rate and term refinance) or to tap equity (cash out refinance).

Rocket Mortgage blew away the competition in this category with $14.1 billion in loan origination volume.

Nobody else was even close, with second place Freedom Mortgage only able to muster $7.5 billion.

It then dropped off even more with Wells Fargo’s $6.6 billion and Chase’s $6.5 billion, followed by Pennymac’s $4.6 billion.

Others in the top-10 included Homepoint, Nationstar (Mr. Cooper), UWM, loanDepot, and Amerihome Mortgage.

Top Mortgage Lenders in Austin

RankingCompany Name2021 Loan Volume
1.Chase$3.0 billion
2.Wells Fargo$2.3 billion
3.Rocket Mortgage$2.2 billion
4.Homepoint$1.6 billion
5.UWM$1.3 billion
6.First United Bank$1.2 billion
7.University FCU$1.1 billion
8.Fairway Independent$1.1 billion
9.Better Mortgage$1.1 billion
10.Newrez$1.0 billion

Top Mortgage Lenders in Dallas

RankingCompany Name2021 Loan Volume
1.Rocket Mortgage$4.7 billion
2.Chase$4.4 billion
3.Wells Fargo$3.5 billion
4.Homepoint$2.3 billion
5.UWM$2.1 billion
6.Fairway Independent$2.0 billion
7.Pennymac$1.9 billion
8.Lakeview Loan Servicing$1.9 billion
9.AmeriHome Mortgage$1.8 billion
10.PrimeLending$1.6 billion

Top Mortgage Lenders in Fort Worth

RankingCompany Name2021 Loan Volume
1.Rocket Mortgage$1.8 billion
2.Chase$1.4 billion
3.Wells Fargo$1.3 billion
4.Lakeview Loan Servicing$1.1 billion
5.Pennymac$843 million
6.AmeriHome Mortgage$809 million
7.UWM$802 million
8.Fairway Independent$801 million
9.Freedom Mortgage$798 million
10.Mr. Cooper$663 million

Top Mortgage Lenders in Houston

RankingCompany Name2021 Loan Volume
1.Rocket Mortgage$5.0 billion
2.Chase$4.4 billion
3.Wells Fargo$3.6 billion
4.UWM$2.7 billion
5.Freedom Mortgage$2.1 billion
6.Lakeview Loan Servicing$1.9 billion
7.loanDepot$1.9 billion
8.Homepoint$1.9 billion
9.Pennymac$1.8 billion
10.Cornerstone Home Lending$1.7 billion

Top Mortgage Lenders in San Antonio

RankingCompany Name2021 Loan Volume
1.Rocket Mortgage$1.6 billion
2.Freedom Mortgage$1.6 billion
3.Pennymac$1.4 billion
4.Wells Fargo$1.0 billion
5.Chase$983 million
6.Lakeview Loan Servicing$944 million
7.Cornerstone Home Lending$822 million
8.loanDepot$813 million
9.AmeriHome Mortgage$811 million
10.Security Service FCU$790 million

Go Big or Go Home in Texas?

Every time I write about the largest mortgage lenders in a certain state, I do my best to separate size from quality.

Or at least point out that they are two unique things, despite “top” and “biggest” being used interchangeably.

For some, top means best quality, while biggest means, well, biggest.

Of course, these two things can go hand in hand, so it’s not always easy to differentiate.

If you look at the lists above, very few of the mortgage companies mentioned are headquartered in Texas.

I believe only Nationstar (Mr. Cooper), D.R. Horton’s DHI Mortgage, and Cornerstone Home Lending are Texas-based companies.

The rest are national mortgage lenders that do a lot of business in the state of Texas.

So if you prefer a homegrown lender, you may want to look elsewhere, such as a local bank, credit union, or mortgage broker.

But you might have a wonderful mortgage experience working with one of the biggest mortgage lenders in Texas too.

Regardless, the important thing is to gather multiple quotes to ensure you don’t miss out on a better deal elsewhere.

This is especially true in today’s mortgage market, where rates can vary widely from one lender to the next.

(photo: Marcin Wichary)

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