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Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.

Biggest Retail and Wholesale Lenders

Financial institutions originate $400.2 billion in Q4

March 5, 2010

By staff

Recently released government data revealed last year's biggest wholesale and retail residential lenders. Meanwhile, an increase in quarterly wholesale originations by banks and thrifts wasn't enough to offset a decline in retail business -- though business soared compared to 2008.

Last year, U.S. financial institutions originated $1.7375 trillion in residential mortgages, according to data provided by the Federal Deposit Insurance Corporation to Production increased from $1.0304 trillion funded during 2008.

The total reflected closed-end first- and second-mortgage activity as well as home-equity line-of-credit commitments and principal funded at FDIC-insured banks and thrifts with at least $1 billion in assets or $10 million in quarterly originations.

Based on total U.S. originations of around $2 trillion during 2009, banks and thrifts were responsible for around 87 percent of all mortgage production.

Retail business accounted for $0.6941 trillion of last year's activity, jumping from $0.3440 trillion in 2008. Wholesale production climbed to $1.0434 trillion from $0.6864 trillion.

Overall fourth-quarter production was $400.2 billion, easing from $412.9 billion in the prior quarter but leaping from just $220.7 billion the prior year.

Retail originations represented $148.5 billion of fourth-quarter activity, lower than $166.2 billion three months earlier.

Well Fargo Bank, N.A., was the biggest retail lender during the fourth quarter, with $48.9 billion in first-lien fundings. Retail business edged up from the third quarter's $47.5 billion.

Bank of America, N.A., trailed Wells, closing $26.3 billion. BoA's third-quarter production was $40.3 billion.

No. 3 JPMorgan Chase Bank, N.A., originated $11.8 billion during the fourth quarter, lower than $13.0 billion in third-quarter retail originations. Citibank, N.A., saw retail volume fall to $4.1 billion from $4.4 billion, and MetLife bank, N.A., production dropped to $3.7 billion from $3.8 billion.

Numbers six through 10, in ascending order, were SunTrust Bank; U.S. Bank, N.A.; Fifth Third Bank; PNC Bank, N.A.; and Branch Banking & Trust Co.

Aggregate wholesale originations climbed to $251.6 billion from the third quarter's $246.7 billion.

The rankings weren't a whole lot different on the wholesale side, with Wells Fargo pushing first-mortgage volume to $77.0 billion from $73.7 billion three months earlier. In addition, No. 3 was Wells Fargo Bank S Cntl, N.A., which saw broker business climb to $35.7 billion from $31.8 billion.

The second-biggest wholesale lender, BoA, funded $51.0 billion, higher than the third quarter's $47.4 billion.

JPMorgan closed $22.5 billion in wholesale business, easing from $23.4 billion, and No. 5 Ally Bank originated $16.3 billion in wholesale mortgages, higher than the previous quarter's $13.9 billion.

The remaining top-10 spots were filled out by U.S. Bank, Citibank, BB&T, SunTrust and Texas Capital Bank, N.A.

BoA had the highest level of repurchases and indemnifications: $10.2 billion. Citibank's $4.5 billion was next, the JPMorgan's $2.7 billion and Wells Fargo's $0.5 billion. No. 5 was SunTrust with $0.3 billion in repurchases and indemnifications.

Fifth Third saw total fourth-quarter production of $4.7 billion, up from a revised $4.5 billion in the third quarter. At M&I Marshall & Ilsley Bank, volume fell to $0.4 billion from $0.5 billion.

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