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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.

www.pointserv.com



PRESS RELEASE


Big Shakeup Among Ranks of Top-10 Lenders


DALLAS -- (Nov. 23, 2009) /PRNewswire/ The top residential lender was unseated in MortgageDaily.com's Third Quarter 2009 Production Ranking, while Citigroup Inc. fell two spots. Aggregate U.S. originations were off by nearly one-fourth.

An analysis by MortgageDaily.com of home loan production indicated that overall third-quarter volume was 22% lower than the second quarter. Compared to a year ago, however, fundings were 40% higher.

The data were derived from quarterly earnings reports, public filings or directly from the companies.

The biggest lender was Bank of America Corp., which funded $98 billion during the third quarter. BoA's business was off 14% from the prior quarter but more than two-thirds better than a year ago. BoA previously ranked second.

Wells Fargo & Co. came in at No. 2 -- relinquishing its top second-quarter ranking. Wells saw volume fall by over one-fourth from the second quarter.

Originations at No. 3 JPMorgan Chase & Co. were off 10% from the second quarter, while GMAC Financial Services came in about 17% worse.

No. 5 U.S. Bancorp was down just 9% -- the best performance by any top-10 lender.

Citigroup, which had ranked as the fourth largest lender in the prior report, saw volume tumble by more than half -- the largest quarterly decline among the 10 biggest lenders -- leaving it as the sixth biggest lender in the third quarter. Citigroup's business was down more than a third from a year earlier, the worst year-over-year performance.

With its August acquisition of failed Colonial Bank, BB&T Corp. leapt to No. 10 in the third-quarter report.

Fifth Third Bancorp, which didn't rank among the top 10 lenders, saw its volume soar 120% from the third-quarter 2008 -- the biggest annual increase among lenders tracked by MortgageDaily.com.

3rd-Quarter 2009 Ranking
Rank Company
1. BoA
2. Wells
3. JPMorgan
4. GMAC
5. U.S. Bancorp
6. Citigroup
7. SunTrust Banks Inc.
8. PHH Mortgage
9. MetLife Inc.
10. BB&T


Read Complete Third Quarter Report at:
http://www.mortgagedaily.com/Q3Ranking112309.asp?spcode=pr


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

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

Full Table of Quarterly Originations by Lender
http://www.mortgagedaily.com/FundingsConforming.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

Corporate Mortgage News
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.

Mortgage Banking Consultants
Mergers & acquisitions, broker-to-bank transitions & accounting are among the services offered by Mortgage Banking Solutions.
www.mortgagebankingsolutions.com



Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.

www.wingspanportfolioadvisors.com


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