Top Mortgage Lenders of 2025: UWM Makes It Three Years in a Row at #1

It’s a hat trick.

Once again, United Wholesale Mortgage was crowned the top mortgage lender in the country, as it was in 2024 and 2023.

This marks the third year in a row for the Pontiac, Michigan-based company that solely works with mortgage brokers.

And like usual, they beat out their crosstown rival Rocket Mortgage in the process.

Read on to see which other companies made the top-10 list in 2025.

Largest Mortgage Lenders of 2025 (Overall)

Let’s take a closer look at the nation’s biggest mortgage lenders, based on loan volume that includes retail and wholesale originations per HMDA data parsed by Richey May.

More than 4,700 banks, direct mortgage lenders, wholesale lenders, and credit unions originated nearly $2 trillion ($1.97T) in home loans last year.

That was a nice jump from 2024, when mortgage companies funded just $1.3 collectively.

As noted, UWM took the spoils and it wasn’t even close. The company funded a mouthwatering $162 billion in home loans last year, easily beating out second place Rocket.

Speaking of, Rocket Mortgage mustered $106.6 billion in funded loans, which includes both retail and wholesale loan originations.

UWM only works in the wholesale channel and still was able to originate roughly 50% more!

But Rocket has been steadily growing its own wholesale channel, known as Rocket PRO, and acquisitions of Redfin and Mr. Cooper could narrow the gap this year and beyond.

After the first two, it drops off massively, but kudos to CrossCountry Mortgage for ascending the list and grabbing third.

The Cleveland, Ohio-based lender funded $48.3 billion in home loans during 2025, referring to itself as “America’s #1 retail mortgage lender.”

Taking fourth was Chase, the only actual bank in the top five with $47.8 billion in mortgages closed.

And rounding out the top five was Pennymac, another nonbank based in SoCal with $33.7 billion.

The rest of the best included Bank of America, Rate (formerly Guaranteed Rate), U.S. Bank, Mortgage Research Center, and Wells Fargo.

Top Home Purchase Lenders of 2025

Home purchase loans accounted for just over two-thirds (68%) of total loan volume last year.

And yes, United Wholesale Mortgage topped this list too, unsurprisingly.

The company extended $93.5 billion in mortgages to home buyers during 2025, again nearly double second-placed Rocket’s $50.5 billion funded.

In third was CrossCountry Mortgage with $38.2 billion, showing their focus on home buyers as opposed to existing homeowners.

Chase again took fourth with $31.6 billion, but a home builder’s mortgage lender, DHI Mortgage, snagged fifth with $23.4 billion.

Others in the top 10 included Mortgage Research Center, which operates Veterans United Home Loans, a top purchase lender for veterans (VA loans), Rate, Guild Mortgage, CMG Mortgage, Fairway Home Mortgage,

Falling just outside the top 10 was Lennar Mortgage, another captive builder lender.

So not a ton of surprises here, especially with the inclusion of a couple of home builder-affiliated lenders.

They are hard to beat because they have the ability to offer massive mortgage rate buydowns to their customers buying homes.

Biggest Mortgage Refinance Lenders of 2025

When we focus solely on existing homeowners, the list changes quite a bit.

Those who already own homes can modify their existing mortgage by applying for a refinance.

This includes both rate and term refinances, where you adjust the mortgage rate, loan term, and/or product type.

And cash-out refinances, where you tap equity or consolidate debt to cover other expenses.

The top mortgage lender here was again UWM with $68.5 billion funded, followed by Rocket with $54 billion and Freedom Mortgage with $19.7 billion.

Again, loan volume dropped off a ton once the top two mortgage lenders were out of the picture.

In fourth was Pennymac with $15.8 billion, followed by Chase with $13.1 billion in fifth.

The rest of the best included Newrez, CrossCountry Mortgage, U.S. Bank, Bank of America, and finally loanDepot.

So not a ton of variety in the top mortgage lender lists, which seem to be dominated by a small handful of very big players.

Over time, these lists have consolidated, especially as the big guys acquire more small guys, including real estate portals and mortgage loan servicing companies.

As I always say, take the time to look beyond the household names. You might pay less if you go with a company that doesn’t spend millions on commercials and advertising!

Before creating this site, I worked as an account executive for a wholesale mortgage lender in Los Angeles. My hands-on experience in the early 2000s inspired me to begin writing about mortgages 19 years ago to help prospective (and existing) home buyers better navigate the home loan process. Follow me on X for hot takes.

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