Mortgage Purchase Market Share for Loans $750K - $1M
2024 Rank Lender Name Originations Lender Market Share 1 UNITED WHOLESALE MORTGAGE, LLC 10,860 8.65% 2 ROCKET MORTGAGE, LLC 6,006 4.78% 3 CROSSCOUNTRY MORTGAGE, LLC 3,693 2.94% 4 U.S. BANK NATIONAL ASSOCIATION 3,162 2.52% 5 JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 3,134 2.50% 6 GUARANTEED RATE, INC. 2,603 2.07% 7 WELLS FARGO BANK, NATIONAL ASSOCIATION 2,414 1.92% 8 CMG MORTGAGE, INC. 2,095 1.67% 9 BANK OF AMERICA, NATIONAL ASSOCIATION 1,990 1.59% 10 CITIBANK, NATIONAL ASSOCIATION 1,829 1.46%
The analysis of the mortgage market for purchase loans in the $750K-$1M range reveals a highly competitive and fragmented landscape. UWM dominates market share, but there's still a substantial opportunity for other players. The presence of over 2,700 active lenders underscores this fragmentation.
This data offers actionable insights for lenders to refine their competitive strategies.
- For large national banks, it emphasizes leveraging brand recognition and capital to defend their position against both traditional and non-bank rivals.
- For smaller regional banks, credit unions, and independent mortgage bankers, the data suggests that a direct volume-based competition is not the only path to success. A more effective approach may involve developing a niche strategy focused on building strong local relationships, delivering exceptional customer service, or offering specialized loan products.
This fragmentation outside the top 10 shows that a focused, well-executed niche strategy can still yield a respectable and profitable return. Understanding this dynamic is key to competing and winning in a high-value mortgage market.
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