twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
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.


Fundings Up at Wells, But Delinquency Deteriorates

$120 billion in Q4 production

Jan. 17, 2012

By MortgageDaily.com staff


Wells Fargo & Co. saw its quarterly home-loan production jump by more than a third, while both its servicing portfolio and mortgage assets grew. But late payments on its mortgages were worse.

Residential loans originated by Wells Fargo Home Mortgage totaled $120 billion in the fourth quarter. The lender's results were included in Wells Fargo & Co.'s earnings report.

Volume leapt from $89 billion originated in the prior three months. In the same period during 2010, fundings at the financial institution were higher at $128 billion.

Correspondent and wholesale production accounted for $61 billion of fourth-quarter business, while retail made up $58 billion.

Annual originations at Wells Fargo amounted to $357 billion, dropping from the $386 billion originated during 2010.

The San Francisco-based company's unclosed pipeline of mortgages in process declined to $72 billion from $84 billion at the end of September, pointing to lower first-quarter volume. Further evidence of the current quarter's slowing can be found with fourth-quarter applications, which fell to $157 billion from the prior period's $169 billion.

Refinances represented 78 percent of applications, climbing from 74 percent in the prior report.

The servicing portfolio closed out 2011 at $1.822 trillion, growing from $1.814 trillion as of Sept. 30. Wells has pumped up its servicing portfolio from $1.809 trillion as of the end of 2010.

The Dec. 31, 2011, total included $1.456 trillion in loans serviced for others.

Wells Fargo owned $228.9 billion in residential loans, growing the portfolio from $223.8 billion three months earlier.

Delinquency including foreclosures climbed to 7.96 percent from 7.63 percent in the third quarter. But the rate retreated from 8.02 percent recorded for the year-earlier quarter.

Another $100.9 billion in home-equity loans were owned, down from the previous quarter's $103.1 billion.

HEL 60-day delinquency deteriorated to 4.73 percent from 4.69 percent in the third quarter.

Wells Fargo additionally serviced $0.518 trillion in commercial mortgages, a number that was barely changed from $0.519 trillion at the end of the prior period and $0.520 trillion in the same period during 2010.

Commercial mortgages on the balance sheet grow to $125.4 billion from the third quarter's $124.1 billion. The fourth-quarter total included $19.4 billion in construction loans.

As of the end of last month, Wells Fargo had 8,714 unresolved repurchase demands for $2.0 billion, bringing down the total from 12,648 loans for $2.948 trillion at the end of the prior year.

Repurchase losses fell to $1.2 billion in 2011 from $1.4 billion in 2010.

At $6.1 billion, Wells Fargo & Co.'s net income before taxes was a quarterly record.

There were 264,200 people employed at the financial behemoth, more than 263,800 as of the end of the September but down from 272,200 at the end of 2010.

Wells Fargo profile

next story

back to current headlines


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.


Secondary Marketing News | Correspondent Lender Directory
Mortgage portfolio trades and forward commitments. Correspondent lending, r e p u r c h a s e s and warehouse news. Secondary marketing statistics and lawsuits.



Bank news

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.


Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders