15 Best Mortgage Lenders in America

3. Wells Fargo & Company (NYSE:WFC)

Total Loan Volume: $78,976,195,000

Total Originations: 142,769

Wells Fargo & Company (NYSE:WFC) is a major American bank serving over 70 million customers across 35 countries. It’s considered one of the most important financial institutions globally and is a member of the prestigious “Big Four Banks” in the US alongside JPMorgan Chase (NYSE:JPM), Bank of America (NYSE:BAC), and Citigroup Inc. (NYSE:C). Apart from offering a variety of loan terms and products, Wells Fargo & Company (NYSE:WFC) is welcoming toward low-income borrowers with flexible credit requirements. It was responsible for originating 142,769 mortgages valued at roughly $79 billion in 2022.

Wells Fargo & Company (NYSE:WFC) shared an update regarding its mortgage activities in the Q1 2024 earnings call:

“Retail mortgage originations declined 38% from a year ago, reflecting the progress we made on our strategic objective to simplify the business as well as the decline in the mortgage market. We also made significant progress in reducing the amount of third-party mortgage loans we serviced, down 21% from a year ago. We also continued to reduce the headcount in home lending, which was down 33% from a year ago. Balances in our auto portfolio were down 12% compared to last year. Origination volume declined 18% from a year ago, reflecting credit tightening actions, but increased 24% from a slow fourth quarter.”