Top Mortgage Lending Institutions of 2017
In 2017, the mortgage lending industry saw top companies like Quicken Loans, Wells Fargo, and Bank of America leading the market with innovative digital platforms and strong financial performance. These lenders are ideal choices for homebuyers seeking reliable and efficient mortgage services. The year’s standout financial results reflect industry strengths, making them prime options for anyone buying a house this year.
Leading Mortgage Providers in the United States
The year 2017 saw many reputable mortgage lenders excel in helping Americans achieve homeownership. Known for their reliability and streamlined processes, these institutions earned recognition as the top mortgage lenders of the year. Here are some of the standout names:
Quicken Loans
Quicken Loans emerged as the leading mortgage lender in 2017, outperforming over 30,000 competitors. Based in Detroit, the company gained a competitive edge by transitioning from traditional offices to a fully digital platform, offering borrowers a seamless online experience.
Wells Fargo
After addressing issues from 2016, Wells Fargo rebounded strongly in late 2017, posting a fourth-quarter profit increase of $1.7 billion and earning a total revenue of $23 billion throughout the year. Despite being surpassed by Quicken Loans, it remained the second-largest mortgage lender.
Bank of America
With a focus on mortgage financing, Bank of America reported earnings of $13 billion in 2017, maintaining its position among top lenders due to its reputation and extensive customer base.
Besides these leaders, other notable lenders like Chase, PennyMac, US Bank, and Nationstar also provided excellent mortgage options, solidifying their presence in the industry. When considering a property purchase this year, these institutions are highly recommended. Additional strong performers included Loan Depot, Caliber Home Loans, Flagstar Bank, and United Wholesale Mortgage, making them worthy options for prospective homebuyers.
