In 2018, 36 major lenders (9,000 mortgage originations and above) were able to produce more closed loans. Those lenders ranged from United Shore Financial, who originated 37,507 more loans than in 2017, to Pacific Union Financial who produced 149 more loans than the previous year.
While the market as a whole originated 9% fewer mortgages, shrinking by 600,000 loans, there were an additional 19 lenders who performed better than the industry average but originations decreased from 2017 to 2018.
There are plenty of avenues for growth in a down or stagnant lending market — M&A, digitization, and even expansion can each make an impact. On the other hand, when it comes to originations and mortgage volume, simply treading water and waiting for better times can sometimes be a good strategy if lenders are preparing for what comes next.
Finicity has found that helping lenders digitize their origination process is one of the best avenues for growing originations and market share whether demand is high or whether lenders are experiencing a trickle of applicants.
Using digital verification solutions can help lenders:
- Close more loans and do so up to two weeks faster.
- Create engaging, simpler experiences for their customers.
- Save time and money through efficiency and automation.
- Free loan officers to better engage with customers.
Without further ado, here’s the list of the 36 large lenders who grew in 2018.
Data taken from the MBA 2019 and 2018 HMDA Residential Originations Databook.