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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.

2017 Biggest Mortgage Lenders and Servicers

Non-bank lenders give up market share as U.S. originations down

March 26, 2018

By Mortgage Daily staff

In the latest ranking of mortgage lenders and servicers, non-bank lenders gave up market share last year as overall mortgage originations turned lower on a quarterly and annual basis.

During the fourth-quarter 2017, home lenders originated an estimated $502 billion in new U.S. mortgages, according to data compiled by Mortgage Daily.

Business was modestly lower than $510 billion in the prior three-month period. An even bigger decline was recorded versus the upwardly revised $577 billion in the final quarter of 2016.

Banks were responsible for $211 billion of the most-recent total, according to data provided to Mortgage Daily by the Federal Deposit Insurance Corp.

Another $45 billion came from credit unions based on statistics provided to Mortgage Daily by Callahan & Associates.

The remaining $246 billion was generated by non-bank lenders, figures reported by the conference of State Bank Supervisors indicate.

A ranking of the biggest lenders was produced by Mortgage Daily based on its Fourth Quarter 2017 Mortgage Origination Survey, quarterly earnings reports and other publicly available reports and announcements.

Retaining its standing as America's biggest mortgage lender, including retail and correspondent lending, was Wells Fargo & Co. -- though Quicken Loans Inc. claimed the No. 1 retail lender spot.

At PHH Corp., which is being acquired by Ocwen Financial Corp., fourth-quarter 2017 originations plunged from the third quarter by 30 percent -- the most of any lender.

But BB&T Corp. reported that business was up from the preceding quarter by 15 percent -- more than any lender.

Originations By Lender - Quarterly
(billions/includes home-equity lending)
Lender Q4 2017 Q3 2017 Q4 2016
U.S. Total $502.1 $510.4 $577.3
Wells Fargo $53.0 $59.0 $72.0
JPMorgan Chase & Co. $26.6 $29.2 $33.5
Quicken $25.2 $23.0 $26.9
US Bancorp $18.2 $17.2 $20.6
PennyMac Financial Services Inc. $17.0 $18.9 $22.1
Bank of America Corp. $16.8 $17.3 $21.9
Freedom Mortgage Corp. $14.6 $16.1 $14.7
Caliber Home Loans Inc. $12.2 $12.5 $12.1
loanDepot LLC $10.1 $9.3 $11.6
Flagstar Bancorp Inc. $9.9 $9.7 $8.6

On an annual basis, the nation's mortgage lenders closed an estimated $1.874 trillion last year, falling from an upwardly revised $2.112 trillion in 2016.

Bank originations were $0.743 trillion during all of 2017, giving the sector a 40 percent market share, the same as the previous year.

Credit union production was $174 billion last year, bringing credit union market share up to 9 percent from 8 percent a year prior.

Non-bank lending totaled $0.956 trillion in 2017. Non-bank market share slipped to 51 percent from 52 percent during 2016.

There was little variance between the biggest lender rankings for the fourth-quarter and full-year 2017.

PHH's production plummeted 47 percent between 2016 and 2017, giving it the biggest annual decline of any lender tracked by Mortgage Daily.

A 57 percent increase from 2016 gave Angel Oak Companies the biggest gain.
Originations By Lender - Annual
(billions/includes home-equity lending)
Lender 2017 2016
U.S. Total $1,873,8 $2,111.9
Wells Fargo $212.0 $249.0
Chase $107.6 $117.4
Quicken $86.4 $96.0
PennyMac $68.4 $69.7
BofA $67.5 $79.4
U.S. Bank $67.0 $78.7
Freedom $51.1 $53.2
Caliber $43.7 $40.3
loanDepot $35.2 $38.2
Flagstar $34.7 $32.5

Data reported by the Mortgage Bankers Association indicate that $9.77 trillion in one-to-four family mortgage debt was outstanding at the end of last year, growing from $9.71 trillion as of Dec. 31, 2016.

Wells Fargo maintained its No. 1 standing among mortgage servicers.

The servicing portfolio at TMS
expanded 55 percent between 2016 and 2017 -- giving it the most growth among servicers.

At the same time, PHH slashed its servicing portfolio by 89 percent -- more than any servicer.

Servicing Portfolios By Lender
as of Dec. 31, 2017
(billions/includes investment loans/
excludes sub-servicing)
U.S. Total $9,770.0
Wells Fargo $1,551.0
Chase $816.1
Nationstar Mortgage LLC $518.1
BofA $517.6
US Bank $310.8
Quicken $279.1
Ocwen $177.3
PNC Financial Services Group Inc. $172.6
PennyMac $166.2
SunTrust Banks Inc. $165.4

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