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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.


15 Largest U.S. Lenders

Second Quarter 2009 Production Ranking

August 5, 2009

By MortgageDaily.com staff


Residential originations at U.S. mortgage lenders jumped by nearly one-quarter in MortgageDaily.com's Second Quarter 2009 Production Ranking. Among the star performers were Wells Fargo & Co., Citigroup Inc. and Quicken Loans Inc.

Second-quarter home loan fundings increased 24 percent from the first quarter, according to MortgageDaily.com's analysis of earnings and origination data. Volume was also up 24 percent from the second-quarter 2008.

"Second-quarter activity was driven by low mortgage rates and high refinance activity," Sam Garcia, Founder and Publisher of MortgageDaily.com, stated. "Also impacting business was an uptick in loans to finance home purchases. But as rates have bounced off their record lows and refinances have eased, we project a decline in third-quarter production."

Wells Fargo maintained its ranking as the biggest U.S. lender. Second-quarter volume at the San Francisco-based institution was up 28 percent from the prior quarter and 64 percent from the prior year's combined Wells-Wachovia originations.

No. 2 Bank of America Corp. was the only other mortgage lender to exceed $100 billion in quarterly originations.

At Citigroup, production shot up 42 percent from the first quarter -- more than any other top-15 lender. But at The PNC Financial Services Group Inc., business declined 7 percent -- the worst performance of all big firms.

Compared to the second-quarter 2008, Quicken Loans saw the highest increase of the 15 biggest originators: 193 percent. But JPMorgan Chase & Co. saw its business fall 41 percent from combined fundings last year at JPMorgan and Washington Mutual.


2nd-Quarter 2009 Ranking
Rank Company Actual Q2 2009 Actual Q1 2009 Change Q2 2008 Change
1. Wells Fargo $129,000,000,000 $101,000,000,000 27.72% $78,700,000,000 63.91%
2. Bank of America $114,300,000,000 $89,300,000,000 28.00% $92,900,000,000 23.04%
3. JPMorgan $41,700,000,000 $38,600,000,000 8.03% $70,400,000,000 -40.77%
4. Citigroup
(company issued corrected data on Aug. 5)
$31,900,000,000
revised to
31,310,000,000
$22,400,000,000 42.41%
revised to
39.78%
$28,500,000,000 11.93%
revised to
9.86%
5. Residential Capital LLC $18,500,000,000 $13,200,000,000 40.15% $17,000,000,000 8.82%
6. SunTrust Banks Inc. $16,700,000,000 $13,400,000,000 24.63% $9,300,000,000 79.57%
7. U.S. Bank Home Mortgage $16,300,000,000 $13,400,000,000 21.64% $9,100,000,000 79.12%
8. PHH Mortgage $11,000,000,000 $8,900,000,000 23.60% $10,800,000,000 1.85%
9. MetLife Inc. $10,600,000,000 $10,400,000,000 1.92% $6,800,000,000 55.88%
10. Flagstar Bancorp Inc. $9,300,000,000 $9,500,000,000 -2.11% $8,100,000,000 14.81%
11. BB&T Corp. $8,500,000,000 $7,400,000,000 14.86% $4,700,000,000 80.85%
12. Quicken Loans (retail lender only) $7,900,000,000 $6,800,000,000 16.18% $2,700,000,000 192.59%
13. Fifth Third Bancorp $6,900,000,000 $4,900,000,000 40.82% $3,300,000,000 109.09%
14. PNC $6,400,000,000 $6,900,000,000 -7.25% $5,300,000,000 20.75%
15. Regions Financial Corp. $3,100,000,000 $2,800,000,000 10.71% n.a. n.a.

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