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Top 30 Lenders in Snohomish County for January 2009

By Toby Barnett | Published: February 27, 2009

To my surprise over $466 million dollars in loans where originated in Snohomish County for the first month of 2009. The total value of loans originated is no where near as high as the booming real estate times of the early millennium but since it is the first time seeing this particular report I have no data to compare it with. But I am sure the reduction in loans originated is significantly lower in early 2009 than it was in 2005 – 2007.

Wells Fargo topped the list with over $46 million dollars in loans originated and averaged out over 178 loans equates to approximately $261,000 per loan; almost equal to the median home price in Snohomish County. Rounding out the top 5 was Mortgage Advisory Group, one of Barnett Associates Real Estate, LLC’s preferred lenders.

Rank
 Lender Name
# of Loans
Amount of Dollars
1
 Wells Fargo Bank
178
$46,489,000
2
 Countrywide Loans
151
$42,112,000
3
 MetLife Home Loans
128
$38,249,000
4
 Boeing Employees Credit Union
147
$37,260,000
5
 Mortgage Advisory Group
101
$27,812,000
6
 Provident Funding
81
$22,936,000
7
 Golf Savings Bank
72
$21,124,000
8
 Bank of America
71
$18,852,000
9
 JP Morgan Chase Bank
66
$17,252,000
10
 Windermere Mortgage
58
$16,619,000
11
 Homestreet Bank
64
$15,757,000
12
 Guild Mortgage
48
$14,541,000
13
 M & T Bank
48
$13,945,000
14
 Network Mortgage Solutions
46
$12,117,000
15
 Cobalt Mortgage
40
$11,659,000
16
 Axia Financial LLC
35
$10,394,000
17
 Taylor Bean Whitaker Mortgage
38
$10,171,000
18
 Eagle Home Mortgage
35
$9,935,000
19
 American Mortgage Network
36
$9,875,000
20
 US Bank
29
$9,376,000
21
 Quicken Loans
31
$8,280,000
22
 Sierra Pacific Mortgage
23
$6,366,000
23
 Legacy Group Lending Inc.
19
$6,290,000
24
 TMBG Inc.
22
$5,831,000
25
 Seattle Mortgage Co.
21
$5,751,000
26
 Pinnacle Cap Mtg Corp.
21
$5,724,000
27
 Frontier Bank
18
$5,640,000
28
 Suntrust Mortgage
19
$5,622,000
29
 Prime Lending Inc.
19
$5,409,000
30
 Reliance Mortgage
15
$5,349,000
Totals
1680
$466,737,000

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4 Comments

  1. Marilyn Martin
    Posted March 26, 2009 at 2:51 pm | Permalink

    Do you have any idea how many of these loans are new and how many are refi’s?

  2. Toby Barnett
    Posted March 26, 2009 at 4:14 pm | Permalink

    Hi Marilyn, wish I did have that information. It would give a greater insight to what the lending world in like. Though I did cross reference the number of loans with the number of closed sales reported by the NWMLS and there is quite a difference.

    In Jan. 2009, the NWMLS reported 2,650 closed sales and the lending report shows 1,680. My guess is many people received financing from outside the county to purchase homes in the county.

  3. Danielle N.
    Posted December 28, 2009 at 2:33 pm | Permalink

    How long are these loans taking to close?

  4. Toby Barnett
    Posted December 28, 2009 at 4:28 pm | Permalink

    Hi Danielle, loans are closing in 30 – 45 days depending on how quick the property appraisals can be completed. I had a VA appraisal completed within a 5 days of filing the loan documents but from experience that is a oddity.

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