5 Biggest Mortgage Companies in the US

3.Wells Fargo & Company (NYSE: WFC)

Market Cap: $200.5 billion

Wells Fargo & Company (WFC) is a notable giant in the US industry. It is 3^rd on our list of the 5 biggest mortgage companies. Located in San Francisco, it provides investment banking and mortgage services via 8,050 locations, 13000 ATMs, and has offices in 38 countries to back up buyers doing business in the world market. The total assets of Wells Fargo are worth $1.9 trillion.

According to Q2 2021 report, there was a net income of $60 billion. Average loans decreased by 10% and deposits increased by 17%. The company generated total revenue of $20,270.

Main mortgage offerings at Wells Fargo & Company are available at 15, 20, 30-year fixed-rate loans. However, for homes and mortgages, the company opts for a down payment of 25% which is higher than the usual 20% most lenders practice.

According to a recent report, the company is providing services to almost 33.33% of the households in America.

In the Q2 2021 investor letter of Argosy Investors, the fund mentioned Wells Fargo & Company (NYSE: WFC). Here is what the fund said:

“Wells Fargo & Company (NYSE: WFC) (+91% from October purchase to sale) were never intended to be core positions. I expected WFC could hit $60 in a number of years, but it got to the high $40’s in less than a year. It seemed like a good time to trim.”