Biggest Mortgage Lenders in Q1

DALLAS — (May 13, 2013) /PRNewswire/ Mortgage originations were off from the fourth quarter, but several players still managed to increase business. The second-quarter forecast calls for stronger production. Although the three-biggest mortgage servicers reduced their servicing portfolios, a trio of rising stars each added more than $100 billion to their portfolios.

Residential lenders originated 6.2% less during the first three months of 2013 than in the final three months of 2012, according to Mortgage Daily’s First-Quarter 2013 Mortgage Lender Ranking.

But business improved 13.8% from the first-quarter 2012.

Estimated first-quarter originations by all U.S. lenders worked out to approximately $505 billion.

Wells Fargo maintained its dominance as an originator, though its market share slipped.

The best improvement was Stonegate Mortgage’s 36% increase. Bank of America and SunTrust Mortgage each boosted business by 11%.

In all, 15 mortgage bankers reported increased activity compared to the fourth-quarter 2012.

Wells Fargo, BofA and Chase maintained their respective No. 1, No. 2 and No. 3 positions among the country’s biggest servicers of home loans — though each reduced their servicing portfolios from year-end 2012.

But portfolios expanded by more than $100 billion each at No. 4 Ocwen, No. 6 Nationstar and No. 8 Walter Mortgage. All three firms are poised to capitalize on refinancing a share of their massive portfolios.