In the fourth quarter of 2017, Quicken Loans hailed itself the nation’s largest residential mortgage lender, beating out roughly 30,000 other commercial banks, savings and loans, mortgage bankers, credit unions, and mortgage brokers. While they didn’t surpass Wells Fargo for the entire year, they narrowly beat them for the quarter with $25 billion in total volume versus $23 billion for Wells Fargo. However, that didn’t include the correspondent lending channel, for which Wells originated an additional $30 billion.
In reality, their $83 billion in home loans in 2018 was well short of the $177 billion originated by Wells Fargo.Īnd while they blew away prior years with $145 billion in total loan volume for 2019, it still paled in comparison to Wells’ $204 billion.
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