Detroit-based Quicken Loans today announced it has become the nation’s largest residential mortgage lender in the 4th quarter of 2017– surpassing close to 30,000 lenders (commercial banks, savings and loans, credit unions, mortgage bankers, mortgage brokers) across the country, reported Forbes.
In the fourth quarter of 2017, Detroit-based Quicken made $25 billion worth of mortgages, overtaking Wells Fargo as the largest of the nation’s 30,000 home lenders, with a roughly 6% market share. The San Francisco-based bank made $23 billion in loans over the same period. Number three Bank of America came in at $13 billion.