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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 U.S. Mortgage Lenders

Treasury reports mortgage production for TARP recipients

April 15, 2009

By MortgageDaily.com staff


TARP news

Participants in the Troubled Asset Relief Program have seen monthly residential originations double since December, though home-equity lending has fallen. The biggest U.S. lender extended its lead during the latest month.

Wells Fargo & Co. originated $34.8 billion in residential first mortgages during February, according to lending activity data reported today by the U.S. Departement of the Treasury for TARP participants. Wells saw volume soar from $24.0 billion in January.

Originations at Wells for the three months ended Feb. 28 were $74.1 billion -- more than any other U.S. mortgage lender. Including home-equity loans and home-equity lines-of-credit, volume was $76.0 billion.

February volume at Bank of America Corp. was $28.7 billion, bringing its mortgage volume for the three-month period to $67.0 billion and making it the second biggest residential lender. With HEL and HELOC fundings, total volume at BoA was $71.5 billion.

No. 3 was JPMorgan Chase & Co., which funded $13.0 billion during February and $31.2 billion for the entire three-month period. Including Home-equity activity, JPMorgan funded $32.2 billion.

Citigroup Inc. was No. 4, with $7.0 billion in February mortgage production and $20.3 billion in volume for the full three months. Adding in HEL and HELOC business, production was $21.7 billion.

Fifth was U.S. Bancorp, which closed $4.6 billion in February and $11.7 billion during the entire three months. Volume was $12.9 billion when HEL and HELOC activity is included.

Excluded from today's report was GMAC LLC, which received $5 billion in TARP funds in December. GMAC is parent to Residential Capital LLC -- which funded $8.2 billion during the fourth-quarter 2008 and recently reported an increase in business. ResCap likely funded around $10 billion during the three months ended Feb. 28.

Overall, the reporting institutions saw residential mortgage volume increase 29 percent in February from January. Compared to December -- volume was 90 percent higher.

Home-equity originations, however, declined 10 percent from January and were down 19 percent from December.


TARP Production Table
(millions)
Company Dec
1st Mtg.
Jan
1st Mtg.
Feb
1st Mtg.
3-Mth
Total
1st Mtg.
Dec
HEL
Jan
HEL
Feb
HEL
3-Mth
Total
HEL
3-Mth Total
Residential
Wells Fargo & Co. $15,320 $24,010 $34,819 $74,149 $627 $587 $613 $1,827 $75,976
Bank of America $15,410 $22,887 $28,690 $66,987 $1,819 $1,402 $1,256 $4,477 $71,464
JPMorgan Chase & Co. $8,596 $9,572 $13,015 $31,183 $427 $312 $278 $1,017 $32,200
Citigroup Inc. $5,545 $7,838 $6,958 $20,341 $391 $769 $209 $1,369 $21,710
U.S. Bancorp $2,985 $4,041 $4,642 $11,668 $413 $348 $440 $1,201 $12,869
SunTrust Banks Inc. $2,630 $3,476 $4,573 $10,679 $128 $119 $143 $390 $11,069
BB&T Corp. $1,248 $1,814 $2,856 $5,918 $245 $72 $93 $410 $6,328
PNC Financial Services Group $3 $2,323 $2,359 $4,685 $258 $335 $402 $995 $5,680
Fifth Third Bancorp $954 $1,459 $1,972 $4,385 $150 $129 $141 $420 $4,805
Regions Financial Corp. $450 $722 $1,084 $2,256 $126 $109 $107 $342 $2,598
Marshall & Ilsley Corp. $183 $263 $357 $803 $36 $42 $51 $129 $932
KeyCorp $92 $129 $145 $366 $151 $121 $133 $405 $771
Northern Trust Corp. $66 $39 $85 $190 $136 $88 $110 $334 $524
The Bank of New York Mellon Corp. $69 $97 $276 $442 $10 $11 $16 $37 $479
The Goldman Sachs Group Inc. $90 $87 $88 $265 $0 $0 $0 $0 $265
Comerica Inc. $21 $33 $63 $117 $31 $8 $14 $53 $170
Morgan Stanley $0 $11 $51 $62 $0 $0 $0 $0 $62
Capital One Financial Corp. $4 $3 $2 $9 $22 $12 $14 $48 $57
. Dec
1st Mtg.
Jan
1st Mtg.
Feb
1st Mtg.
Total
1st Mtg.
Dec
HEL
Jan
HEL
Feb
HEL
Total
HEL
Total Residential
total $53,666 $78,804 $102,035 $234,505 $4,970 $4,464 $4,020 $13,454 $247,959

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