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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.
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PRESS RELEASE
Biggest U.S. Mortgage Lenders
DALLAS -- (Feb. 9, 2012) /PRNewswire/ Residential originations fell in 2011, and some lenders saw a bigger decline than others, according to MortgageDaily.com's 2011 Mortgage Lender Ranking. The government's role in residential finance was reduced last year.
Fourth-quarter originations by all lenders were an estimated $381 billion, up from approximately $317 billion closed three months earlier.
The biggest fourth-quarter lender was Wells Fargo, which reported that volume climbed to $120 billion from the third quarter's $89 billion.
No. 3 Bank of America saw production fall more than any other top-10 lender as it quit correspondent lending.
The best performance was given by U.S. Bancorp, where production climbed 51%.
Top Q4 Originators
| Lender |
| 1. Wells Fargo |
| 2. Chase |
| 3. BofA |
| 4. Citi |
| 5. U.S. Bancorp |
Industry-wide production during all of 2011 was around $1.3 trillion, falling from approximately $1.6 trillion the previous year.
There were $206 billion in loans insured by FHA last year, giving FHA a market share around 16%, down from 19% in 2010.
Loans purchased or guaranteed by Fannie Mae or Freddie Mac accounted for approximately 74% of 2011 business, lower than the 78% share a year earlier.
The government owns FHA and controls Fannie and Freddie, putting the country on the hook for around 90% of mortgages originated last year. But that was lower than the approximately 97% government market share in 2010.
Wells Fargo dominated annual rankings despite an 8% decline.
BofA, Chase and Wells Fargo were responsible for about half of all production during 2011.
PHH saw annual production rise 6%, the best annual performance of any top-ranking lender.
| Top 2011 Lenders |
| 1. Wells Fargo |
| 2. BofA |
| 3. Chase |
| 4. Citigroup |
| 5. Ally |
| 6. PHH |
| 7. U.S. Bancorp |
| 8. Quicken |
| 9. Flagstar |
| 10. BB&T |
Based on mortgage servicing portfolios, including third-party servicing, mortgages owned and home-equity assets, Wells Fargo's $1.822 trillion portfolio was the biggest.
| Top Servicers |
| 1. Wells Fargo |
| 2. BofA |
| 3. Chase |
| 4. Citigroup |
| 5. Ally |
| 6. U.S. Bancorp |
| 7. PNC |
| 8. PHH |
| 9. SunTrust |
| 10. OneWest |
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Read full Mortgage Lender Ranking at:
http://www.MortgageDaily.com/MortgageLenderRanking.asp?spcode=pr
Mortgage origination news at:
http://www.mortgagedaily.com/Fundings.asp?spcode=pr
Quarterly mortgage production by the top lenders at:
http://www.mortgagedaily.com/FundingsConforming.asp?spcode=pr
About MortgageDaily.com
Founded in 1998, MortgageDaily.com is a dominant online source of mortgage news, statistics and analysis for the mortgage industry. Visit us online at www.MortgageDaily.com.
CONTACT:
Holly Himelright
NewsAlert@MortgageDaily.com
3811-700 Turtle Creek Blvd.
Dallas, TX 75219
Source: MortgageDaily.com
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M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.
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