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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 -- (Nov. 8, 2010) /PRNewswire/ Mortgage lenders are ranked based both on how many new loans they originate and how many loans they service. By those measures, the biggest originator of home loans is based on the West Coast, while the biggest mortgage servicer is based on the East Coast, according to the Third Quarter 2010 Mortgage Lender Ranking from Mortgage Daily.

Mortgage originations represent transactions where the purchase of a home is financed or an existing mortgage is refinanced. In either case, the borrower -- who is the consumer in the transaction -- must attend a loan closing and sign a myriad of loan documents.

During the third quarter, U.S. mortgage originations were up one-third from the second quarter, according to a MortgageDaily.com analysis of activity. Business was down 37 percent, however, from the third-quarter 2009.

Based on origination volume, San Francisco-based Wells Fargo & Co. -- with more than $100 billion in residential originations -- was the biggest mortgage lender during the third quarter. The company's mortgage subsidiary, Wells Fargo Home Mortgage, operates from Des Moines, Iowa.

Quicken Loans Inc. managed to move up two spots from the prior report.

Rank Q3 Q2
1 Wells Wells
2 BofA BofA
3 Chase Chase
4 GMAC GMAC
5 Citigroup Citigroup
6 US Bank US Bank
7 PHH PHH
8 Quicken SunTrust
9 SunTrust Flagstar
10 Flagstar Quicken & MetLife

The second measure of mortgage lender size is the amount of mortgages they service, including loans originated in prior periods. Servicers collect payments each month and pass on interest earned to investors or to their own bottom lines.

Based on mortgage servicing portfolio size, Bank of America Corp. is the biggest U.S. servicer. While BofA is headquartered in Charlotte, N.C., its mortgage subsidiary, Bank of America Home Loans, is based in Calabasas, Calif.

Rank Q2
1 BofA
2 Wells
3 Chase
4 Citigroup
5 GMAC
6 US Bank
7 PNC
8 SunTrust
9 PHH
10 OneWest


Full Mortgage Lender Ranking at:
http://www.MortgageDaily.com/MortgageLenderRanking.asp?spcode=pr

Complete mortgage origination news coverage at:
http://www.mortgagedaily.com/Fundings.asp?spcode=pr

Full Mortgage Servicer Ranking at:
http://www.mortgagedaily.com/ServicerRanking.asp?spcode=pr

Mortgage statistics are at:
http://www.mortgagedaily.com/Statistics.asp?spcode=pr

About MortgageDaily.com
Founded in 1998, http://www.MortgageDaily.com provides online mortgage news and analysis for the mortgage industry.
Around 1 million news pages are viewed monthly at MortgageDaily.com and its affiliate publications.


CONTACT:
SamGarcia@MortgageDaily.com
214.521.1300
3811-700 Turtle Creek Blvd.
Dallas, TX 75219


Source: MortgageDaily.com


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