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Quicken Loans And UWM Take More Share In Mortgage Lending Business For 2018

Quicken Loans and United Wholesale Mortgage are continuously outpacing their competition in the mortgage lending space. A new report shows that both companies took a larger share in 2018, helping them rise up the ranks with some of the top loan origination companies in the U.S.

Quicken Loans generated $83.4 billion in loans for 2018, while UWM set a company record for loan volume with $41.5 billion, according to Crain's Detroit Business.

"Quicken Loans ranks as the largest retail mortgage originator in the nation, ahead of Wells Fargo, Chase and Bank of America," according to the report.

"Quicken's loan volume fell 3 percent in 2018, but the decrease was less than the biggest players in the space, Wells Fargo & Co. and J.P. Morgan Chase, who dropped 17.1 percent and 19.3 percent last year, respectively."

Meanwhile, UWM is continuing to take more of the wholesale market. The report states that UWM had 22 percent of the wholesale market in 2018 and surpassed Bank of America in total loan volume.

"Finishing the year as the No. 1 wholesale lender in America for the fourth straight year is a major accomplishment for our team, and the huge growth we've experienced speaks volumes about how much the mortgage broker channel is growing and thriving," Mat Ishbia, president and CEO of the company, said in a news release.

While both Quicken Loans and UWM are climbing above their competition, both companies are also going head-to-head in the mortgage lending space, which should make for quite the race in 2019.

To learn more about the dominance of Quicken Loans and UWM in 2018, click on the image above.

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