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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.

Some Shifting Among Biggest Mortgage Lenders

Q2 originations up 2% from Q1

Aug. 19, 2013

By Mortgage Daily staff

Among the largest mortgage lenders in the country, two companies traded positions as industry-wide quarterly originations edged up. Initial indications are that the current quarter's production is on track for a decline. Meanwhile, the second- and third-biggest servicers traded rankings.

Home loans funded by U.S. lenders totaled an estimated $502 billion during the second quarter, according to Mortgage Daily's Mortgage Lender Ranking.

The estimate was based on data collected from earnings reports, publicly disclosed statistics and a quarterly survey conducted by Mortgage Daily.

Overall activity increased around 2 percent from the first quarter.

Compared to the second-quarter 2012, mortgage production has risen more than 8 percent.

Wells Fargo & Co. maintained its standing as the biggest residential lender in the country. Business at the San Francisco-based firm was up 2.8 percent from the first quarter.

A distant second was JPMorgan Chase & Co., where volume was down 7 percent.

Bank of America Corp. regained its No. 3 ranking after falling behind Quicken Loans Inc. in the first quarter.

Second-Quarter 2013 Originations
Rank Lender Market
($ billions)
Total. U.S. (est.) 100% $502.0
1. Wells Fargo 22% $112.0
2. Chase 10% $49.5
3. Bank of America 5% $26.8
4. Quicken Loans 5% $23.8
5. U.S. Bank 4% $19.1
6. Citigroup 3% $17.2
7. PHH 3% $14.8
8. Flagstar 2% $10.9
9. BB&T 2% $9.3
10. SunTrust 2% $9.1

Walter Mortgage Co. soared to $4.7 billion from the first quarter's $ 0.4 billion -- the biggest percentage gain of all lenders tracked.

Mortgage production at Nationstar Mortgage LLC more than doubled from the first quarter -- the second-best quarter-over-quarter performance of any top lender.

A nearly one-quarter gain was logged by New American Funding and McLean Mortgage Corp.

The biggest quarter-over-quarter loss was suffered by Ocwen Financial Corp., which reported that volume was down 21 percent.

Nationstar's business nearly quadrupled from the second-quarter 2012, the best year-over-year improvement.

With a 250 percent increase, Stonegate Mortgage delivered the second-largest increase from the year-earlier period.

United Shore Financial Services followed with a 156 percent ascension, then 154 percent at PennyMac Mortgage Investment Trust.

Loan fundings at Provident Funding Associates LP slowed more than 22 percent from the second quarter of last year, the largest decline.

Based on the U.S. Mortgage Market Index from LoanSifter and Mortgage Daily, third-quarter originations from all lenders are likely to decline by around 22 percent.

Wells Fargo held on to its top-servicer standing with a mortgage servicing portfolio of $1.9 trillion.

BofA relinquished its No. 2 rank to Chase.

Biggest Mortgage Servicers
as of June 30, 2013
Rank Servicer Portfolio Size
($ trillions)
Total. U.S. Outstanding* $9.919
1. Wells Fargo $1.851
2. Chase $1.003
3. Bank of America $0.986
4. Ocwen $0.436
5. Citigroup $0.407
6. Nationstar $0.318
7. U.S. Bank $0.287
8. PHH $0.229
9. Walter Mortgage $0.223
10. PNC $0.166
*source: Total U.S. Outstanding estimated by Fannie Mae

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