These are the Top Residential Mortgage Lenders in the Kansas City Metro



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Written by Andrew Vaupel for the Kansas City Business Journal, August 9, 2024
 

The effects of the slowdown in the residential mortgage market hit the Kansas City metro hard in 2023.

Lenders originated just $8.1 billion in residential purchase loans for properties in the metro last year, down 17.06% from the nearly $9.77 billion originated in 2022.

Based on information obtained from LendingPatterns.com, the number of mortgages also fell sharply (18.19%) from nearly 33,600 in 2022 to about 27,500 in 2023.

Both calculations exclude multifamily mortgages. Our analysis also excludes mortgages taken out for home improvements or refinancing.

The Kansas City Business Journal's annual Residential Mortgage Lenders List highlights the top 100 companies, which originated 89% ($7.22 billion) of the metro's entire mortgage volume in 2023.

Despite widespread market challenges, 27 of the top 100 lenders reported year-over-year increases in dollar volume of mortgages originated.

First National Bank of Omaha, which does business as FNBO, recorded the biggest increase in mortgage volume for metro-area properties. The Omaha-based full-service bank soared 106.72% from $59.3 million in 2022 to $122.58 million in 2023.

It was followed by:

  • Provident Funding Associates LP, a Santa Rosa, California-based nationwide mortgage lender and servicer — 88.97%
  • Academy Bank, a Kansas City-based family-owned commercial bank — 71.07%
  • Luminate Home Loans Inc., a Minneapolis-based mortgage lender — 60.05%
  • First Bank, a Creve Coeur, Missouri-based independent bank — 59.88%

Sixteen new firms also joined the List in 2024, including three that ranked among the top 50:

  • No. 30: Waterstone Mortgage Corp., a Brookfield, Wisconsin-based mortgage lender
  • No. 31: Ark-La-Tex Financial Services LLC, a Plano, Texas-based mortgage lender that does business as Benchmark
  • No. 45: Hallmark Home Mortgage LLC, a Fort Wayne, Indiana-based mortgage lender

Now, KCBJ is further parsing data obtained from LendingPatterns.com, an HMDA data analysis software tool developed by ComplianceTech, as well as information gleaned through KCBJ research or supplied by individual businesses through survey questionnaires.


Top 10 highest average loan sizes

Based on average dollar amount of Kansas City-metro residential mortgage purchase loans

  • Morgan Stanley Private Bank — $668,793
  • The Huntington National Bank — $571,538
  • Fidelity Bank — $456,712
  • BMO Harris Bank — $453,889
  • Capitol Federal Savings Bank — $444,014
  • Mutual Savings Association — $439,412
  • Regions Bank — $428,761
  • Academy Bank — $411,132
  • Arvest Bank — $401,354
  • Provident Funding Associates LP — $400,591

Most local residential loan officers

Based on additional information requested by KCBJ from the top 100 mortgage lenders (22 companies responded)

  • NBKC Bank — 105
  • CommunityAmerica Credit Union — 37
  • First Federal Bank — 34
  • Arvest Bank — 18
  • Armed Forces Bank — 14
  • The Central Trust Bank (dba Central Bank of the Midwest) — 11
  • BOK Financial — 10
  • Bell Bank Mortgage — 9
  • Waterstone Mortgage Corp. — 9
  • First Federal Bank of Kansas City — 8
  • Landmark National Bank — 7
  • Fidelity Bank — 6
  • Country Club Bank — 6
  • Academy Bank — 6
  • Mutual Savings Association — 5
  • Capitol Federal Savings Bank — 4
  • Equity Bank — 4
  • Bank of Odessa — 3
  • Bayshore Mortgage Funding LLC (dba Hometown Mortgage) — 2
  • Citizens Federal Savings Bank — 2
  • Synergy One Lending Inc. (fka S1L Inc.) — 2
  • First Federal Savings & Loan Bank — 2

Biggest local employers with a residential mortgage operation

Based on full-time-equivalent employees in the Kansas City area (36 companies responded; 25 companies displayed)

  • Commerce Bank — 2,462 local FTE employees
  • U.S. Bank — 1,543
  • CommunityAmerica Credit Union — 831
  • Bank of America — 520
  • The Central Trust Bank (dba Central Bank of the Midwest) — 450
  • Country Club Bank — 419.5
  • Academy Bank — 410
  • NBH Bank (dba Bank Midwest) — 403
  • NBKC Bank — 348
  • Mazuma Credit Union — 253
  • Arvest Bank — 245
  • Capitol Federal Savings Bank — 200
  • BOK Financial — 196
  • JPMorgan Chase Bank — 150
  • First Federal Bank of Kansas City — 138
  • First National Bank of Omaha (dba FNBO) — 114
  • Equity Bank — 80
  • Sunflower Bank — 79
  • First Federal Bank — 75
  • Hawthorn Bank — 63
  • Mutual Savings Association — 52
  • Landmark National Bank — 47.5
  • Farmers Bank & Trust (dba Farmers Bank of Kansas City) — 46
  • Armed Forces Bank — 45
  • Cornerstone Bank — 33
 
Read original article here: Kansas City Business Journal

































































































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