Top Mortgage Lenders in Oregon
Today we’ll take a look at the top mortgage lenders in Oregon, based on total loan volume.
Nearly 700 different mortgage companies duked it out last year in a bid to take first place in Oregon, originating about $91 billion in home loans in the process.
And like many other states in the nation, a certain Rocket Mortgage topped the rankings in The Beaver State.
That doesn’t come as much of a surprise given their dominance throughout the country, and their national #1 ranking.
Read on to see who else made the top 10 lists for home purchase lending and mortgage refinancing.
Top Mortgage Lenders in Oregon (Overall)
| Ranking | Company Name | 2021 Loan Volume |
| 1. | Rocket Mortgage | $4.6 billion |
| 2. | UWM | $3.5 billion |
| 3. | Guild Mortgage | $3.2 billion |
| 4. | Umpqua Bank | $3.2 billion |
| 5. | U.S. Bank | $3.1 billion |
| 6. | Caliber Home Loans | $3.0 billion |
| 7. | Chase | $2.8 billion |
| 8. | OnPoint Community CU | $2.7 billion |
| 9. | Wells Fargo | $2.5 billion |
| 10. | loanDepot | $2.1 billion |
As stated, Detroit-based Rocket Mortgage took the top spot in Oregon with $4.6 funded in 2021, per HMDA stats from Richey May.
Their crosstown rival United Wholesale Mortgage (UWM) was on their tail with $3.5 billion in second place.
Third went to San Diego, California-based Guild Mortgage with a close $3.2 billion funded during the year.
In fourth we finally see a hometown lender represented, Portland-based Umpqua Bank and their $3.2 in loan origination volume.
Taking fifth was another depository, Minnesota-based U.S. Bank with $3.1 billion in home loan volume.
Others in the top 10 included Caliber Home Loans, Chase, Portland-based OnPoint Community Credit Union, Wells Fargo, and loanDepot.
So just two of the top 10 are native Oregon companies, and both are headquartered in Portland.
Top Oregon Mortgage Lenders (for Home Purchases)
| Ranking | Company Name | 2021 Loan Volume |
| 1. | Guild Mortgage | $1.7 billion |
| 2. | Caliber Home Loans | $1.5 billion |
| 3. | UWM | $1.5 billion |
| 4. | Umpqua Bank | $1.5 billion |
| 5. | Chase | $1.2 billion |
| 6. | U.S. Bank | $1.1 billion |
| 7. | OnPoint Community CU | $922 million |
| 8. | Fairway Independent | $902 million |
| 9. | Wells Fargo | $875 million |
| 10. | Finance of America | $773 million |
When we filter out the refis and focus only on home purchase loans, Guild Mortgage took the cake with $1.7 billion funded in the state of Oregon.
That makes them the go-to lender for Oregon home buyers, despite being located in Southern California.
In second was Caliber Home Loans with $1.5 billion funded, just slightly better than UWM’s similar $1.5 billion in purchase loan volume.
Umpqua Bank again took fourth place with $1.5 billion, followed by JPMorgan Chase’s $1.2 billion.
The rest of the top 10 included U.S. Bank, OnPoint Community CU, Fairway Independent Mortgage, Wells Fargo, and Finance of America.
Similar to the list above, just two Oregon-based companies made the top 10 list, surprising since home buyers typically gravitate to local lending institutions.
Top Refinance Lenders in Oregon (for Existing Homeowners)
| Ranking | Company Name | 2021 Loan Volume |
| 1. | Rocket Mortgage | $3.8 billion |
| 2. | UWM | $2.0 billion |
| 3. | U.S. Bank | $1.8 billion |
| 4. | OnPoint Community CU | $1.7 billion |
| 5. | Wells Fargo | $1.6 billion |
| 6. | Umpqua Bank | $1.6 billion |
| 7. | Chase | $1.6 billion |
| 8. | loanDepot | $1.5 billion |
| 9. | Guild Mortgage | $1.5 billion |
| 10. | Caliber Home Loans | $1.5 billion |
When we single out mortgage refinances, such as rate and term refis and cash out refis, Rocket Mortgage easily took #1 with $3.8 billion funded.
They were again trailed by UWM with $2.0 billion funded and U.S. Bank’s $1.8 billion in refi loans.
Once again, an Oregon-based lender took fourth, OnPoint Community CU, with $1.7 billion funded.
Rounding out the top five was San Francisco-based Wells Fargo, which is fairly closely located to the Oregon border.
The rest of the best included Umpqua Bank, Chase, loanDepot, Guild Mortgage, and Caliber Home Loans.
In this list, we saw the two previously mentioned Oregon-based mortgage companies represented again.
Did the Best Oregon Mortgage Lenders Make the List?
While many of the names mentioned above have good or even excellent ratings overall from customer reviews, not many Oregon-based companies made the lists.
However, there are lots of highly-rated loan officers from both Umpqua Bank and OnPoint Community CU based on their Zillow reviews.
If you prefer to keep it local, you may want to look beyond the biggest names, at least in terms of loan volume.
For example, Willamette Valley Bank has an impressive 4.98-star rating on Zillow from over 2,200 reviews, and PacRes Mortgage has an even better 4.99-star rating from 1,100+ reviews.
Both are Oregon-based mortgage companies. The same is true of Portland-based Mortgage Express and Tualatin-based Capital Hill Mortgage.
There are lots of home loan lending options in the state of Oregon, so take a moment to see what’s out there before simply jumping at a big name.
Sometimes the best lender isn’t a household name, but instead a small, local shop.
(photo: Colin Durfee)
Published at Thu, 15 Sep 2022 13:17:38 -0500
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