Nation's top mortgage lenders reveal their secrets to success
The top mortgage lenders of 2016 are sharing their secrets to success, explaining what pushed them into a position in the top 10.
The latest Home Mortgage Disclosure Act data from the Federal Financial Institutions Examination Council shows which lenders are dominating the mortgage origination market. Click here to see the top 10. But we took it a step further. After reviewing the list of these top mortgage lenders, HousingWire set out to learn if there were common denominators in their business practices that led to their success.
We asked, they answered, and here’s what they said.
Our first question: What is it, exactly, that pushed these lenders to their top position? The No. 6 lender, loanDepot, credited its success to customer service and ease of use.
“Buying a home and refinancing a home is a stressful process,” loanDepot Chief Financial Officer Bryan Sullivan told HousingWire. “Making sure our customers are treated with respect, offered a fair price and trying to make the process as unobtrusive as possible is something we constantly strive for at loanDepot. Technology is a big part of that, but understanding our customer’s goals are our primary focus.”
But loanDepot wasn’t the only lender to credit its success to how it treats its borrowers. In fact, it seems to be a trend in the responses from the top lenders. Flagstar Bank, which took the ninth position of the top lenders, also credited its success to customer service.
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