In the present day we’ll take a look at who the highest mortgage lenders in Louisiana had been based mostly on the latest 12 months’s mortgage quantity.
In 2021, greater than 600 banks and lenders originated practically $39 billion in residence loans within the Pelican State, per HMDA information.
It was an excellent 12 months for many lenders, however one firm managed to outpace the remainder of the pack fairly simply.
And it was a hometown financial institution headquartered within the state, not a giant nationwide lender.
Learn on to see who it was and to view the whole checklist of the most important mortgage lenders in Louisiana.
High Mortgage Lenders in Louisiana (General)
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | GMFS | $2.7 billion |
| 2. | Rocket Mortgage | $1.8 billion |
| 3. | Pennymac | $1.5 billion |
| 4. | Freedom Mortgage | $1.2 billion |
| 5. | UWM | $1.1 billion |
| 6. | AmeriHome Mortgage | $1.0 billion |
| 7. | First Horizon Financial institution | $978 million |
| 8. | Homepoint | $933 million |
| 9. | Hancock Whitney | $932 million |
| 10. | Assurance Monetary | $890 million |
Similar to in 2020, GMFS Mortgage was the highest mortgage lender in Louisiana with $2.7 billion funded, per HMDA information from Richey Could.
The Baton Rouge-based lender was based in 1999 and solely operates in 12 states, largely within the South.
They had been trailed by total #1 Rocket Mortgage with $1.8 billion, and SoCal-based Pennymac in third with $1.5 billion.
Fourth and fifth went to Freedom Mortgage and United Wholesale Mortgage (UWM) with $1.2 billion and $1.1 billion, respectively.
The remainder of the highest ten included AmeriHome Mortgage, First Horizon Financial institution, Homepoint, Hancock Whitney Financial institution, and Assurance Monetary.
In whole, two of the highest 10 lenders are Louisiana-based, GMFS Mortgage and Assurance Monetary.
High Mortgage Lenders in Louisiana (for Residence Consumers)
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | GMFS | $1.3 billion |
| 2. | Pennymac | $980 million |
| 3. | UWM | $647 million |
| 4. | AmeriHome Mortgage | $626 million |
| 5. | Assurance Monetary | $549 million |
| 6. | Constancy Financial institution | $549 million |
| 7. | Homepoint | $500 million |
| 8. | First Horizon Financial institution | $484 million |
| 9. | Gulf Coast Financial institution | $480 million |
| 10. | Motion Mortgage | $439 million |
If we shift our consideration to residence buy transactions solely, GMFS Mortgage continues to be the chief, although by a smaller margin.
GMFS funded $1.3 billion in residence buy loans in 2021 in Louisiana, adopted by Pennymac with $980 million.
In third was UWM with $647 million, an organization that operates solely through the mortgage dealer channel.
Fourth and fifth went to AmeriHome and Assurance Monetary, with $626 million and $549 million funded.
Locations six by means of 10 went to Constancy Financial institution (LA), Homepoint, First Horizon Financial institution, Gulf Coast Financial institution and Belief, and Motion Mortgage.
This introduced the Louisiana-based lender whole to 4: GMFS, Assurance Monetary, Constancy Financial institution, Gulf Coast Financial institution and Belief.
It’s commonplace to see extra homegrown banks and lenders dominate the house buy mortgage checklist.
Usually, residence patrons will work with an area firm they know nicely to ease their nerves.
High Refinance Lenders in Louisiana (for Current Householders)
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | Rocket Mortgage | $1.4 billion |
| 2. | GMFS | $1.3 billion |
| 3. | Freedom Mortgage | $956 million |
| 4. | Chase | $521 million |
| 5. | Pennymac | $491 million |
| 6. | UWM | $473 million |
| 7. | Hancock Whitney | $461 million |
| 8. | First Horizon Financial institution | $457 million |
| 9. | loanDepot | $434 million |
| 10. | Homepoint | $433 million |
Now let’s discuss refis. Current owners are inclined to care much less about working with native banks and lenders.
In spite of everything, they’re merely adjusting the speed/time period of their mortgage, versus financing a house buy.
This may clarify why Rocket Mortgage took the highest spot with $1.4 billion funded, adopted by GMFS with $1.3 billion in refi quantity.
In third was VA mortgage specialist Freedom Mortgage with $1.3 billion, adopted by Chase and Pennymac with a couple of half billion every.
Others touchdown within the top-10 checklist included UWM, Hancock Whitney Financial institution, First Horizon Financial institution, loanDepot, and Homepoint.
As you possibly can see, just one Louisiana-based mortgage lender made this checklist.
High Mortgage Lenders in Baton Rouge
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | GMFS | $1.1 billion |
| 2. | Assurance Monetary | $492 million |
| 3. | Rocket Mortgage | $370 million |
| 4. | Pennymac | $340 million |
| 5. | Freedom Mortgage | $283 million |
| 6. | UWM | $278 million |
| 7. | AmeriHome Mortgage | $239 million |
| 8. | Hancock Whitney | $232 million |
| 9. | Homepoint | $216 million |
| 10. | Chase | $189 million |
High Mortgage Lenders in New Orleans
| Rating | Firm Identify | 2021 Mortgage Quantity |
| 1. | GMFS | $799 million |
| 2. | Rocket Mortgage | $636 million |
| 3. | Gulf Coast Financial institution | $581 million |
| 4. | Hancock Whitney | $571 million |
| 5. | First Horizon Financial institution | $563 million |
| 6. | Constancy Financial institution | $516 million |
| 7. | Chase | $469 million |
| 8. | Pennymac | $443 million |
| 9. | AmeriHome Mortgage | $419 million |
| 10. | UWM | $379 million |
Who Are the Greatest Louisiana Mortgage Lenders?
Greatest and greatest aren’t at all times synonymous. Simply because an organization does essentially the most enterprise doesn’t imply it’s the chief in customer support.
However generally each can coexist. I usually take a look at opinions on Zillow to see how lenders are rated by their prospects.
GMFS Mortgage appears to be a giant participant in Louisiana and well-received, with a 4.96/5-star ranking on Zillow from practically 500 buyer opinions.
Evaluate that to Rocket Mortgage’s 4.48/5, Pennymac’s 4.40, Freedom Mortgage’s 4.85/5, Assurance Monetary’s 4.96/5, and Gulf Coast Financial institution’s 4.94/5.
Different native lenders listed on Zillow embrace the Metairie, LA department of Motion Mortgage, rated 4.95/5, Shreveport, LA’s Draper and Kramer Mortgage (4.96/5), and Lafayette, LA’s Castille Mortgage Firm (5/5).
There are numerous different lenders and particular person mortgage brokers that function within the state as nicely.
Take the time to see what’s accessible each close by and nationally, and make sure to evaluate service, mortgage charges, and charges.
(photograph: formulanone)