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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.

Mortgage Lender Ranking

Banks give up market share to non-banks credit unions

March 16, 2015

By Mortgage Daily staff

While there was no change in the top-five ranking of home lenders, the concentration of business among the 10 largest lenders dropped. Banks gave up significant market share to non-banks and credit unions.

Residential loan originations by all U.S. lenders was an estimated $301 billion during the fourth-quarter 2014, according to data compiled by Mortgage Daily.

Business slumped compared to the $311 billion in estimated mortgage production generated during the third quarter of last year.

But activity picked up modestly from $297 billion in estimated production during the final quarter of 2013.

Full-year 2014 volume for home lenders amounted to $1.128 trillion, tumbling from the $1.898 trillion in real estate loans closed during 2013.

Based on data collected for the Mortgage Daily Fourth Quarter 2014 Mortgage Origination Survey, Wells Fargo & Co. solidly maintained its No. 1 position during the latest three-month period.

Originations By Lender
(billions/includes home-equity lending)
Lender Q4 2014 Q3 2014 Q4 2013
U.S. Total $300.8 $310.9 $297.2
Wells Fargo
JPMorgan Chase & Co.
Quicken Loans Inc.
Bank of America Corp.
U.S. Bank Home Mortgage
PHH Mortgage $9.4 $9.9 $9.5
PennyMac Mortgage Investment Trust $8.0 $8.6 $6.0
Citigroup Inc. $6.7 $7.1 $8.3
Flagstar Bancorp Inc. $6.6 $7.2 $6.4
Walter Investment Management $5.4 $5.8 $5.3
*Freedom Mortgage declined to report Q4 originations

For all of last year, the rankings were the same as for the fourth quarter.

Originations By Lender
(billions/includes home-equity lending)
Lender 2014 2013
U.S. Total $1,127.9 $1,898.2
Wells Fargo $175.0 $351.0
Chase $81.1 $167.6
Quicken $59.0 $78.9
BofA $54.5 $89.8
U.S. Bank $50.1 $84.9
PHH $36.0 $52.4
PennyMac $29.1 $31.7
Citi $25.2 $58.0
Flagstar $24.6 $37.5
Walter $19.6 $18.6
*Freedom Mortgage declined to report Q4 originations

The top 10 lenders in 2014 were responsible for 49 percent of all originations.

That same group of lenders closed more than 51 percent of all loans during 2013.

Market Share By Lender
Lender 2014 2013
Wells Fargo 15.5% 18.5%
Chase 7.2% 8.8%
Quicken 5.2% 4.2%
BofA 4.8% 4.7%
U.S. Bank 4.4% 4.5%
PHH 3.2% 2.8%
PennyMac 2.6% 1.7%
Citi 2.2% 3.1%
Flagstar 2.2% 2.0%
Walter 1.7% 1.0%

Market share at banks sank to 41 percent last year from 54 percent in 2013.

Credit unions were responsible for 10 percent of 2014 activity, climbing from just 7 percent the previous year.

At non-bank lenders, market share jumped to 48 percent from 39 percent.

Fannie Mae reported that $9.862 trillion in residential loans were being serviced as of Dec. 31, 2014.

Among mortgage servicers, Wells Fargo held on the the top spot with a $1.747 trillion portfolio.

Moving up the rankings were Nationstar Mortgage LLC, to No. 4 from No. 5 at the end of 2013; Walter, which climbed to No. 8 from No. 9, and Quicken, where its ranking improved to No. 9 from No. 10.

Ocwen Financial Corp., which hasn't yet reported data as of Dec. 31, slipped to No. 5 last year from No. 4, and PNC dropped to No. 10 from the eighth position in 2013.

Servicing Portfolios By Lender
as of Dec. 31, 2014
(billions/includes investment loans/
excludes sub-servicing)
U.S. Total $9,862.0 $9,887.0
Wells Fargo $1,747.0 $1,823.0
Chase $921.2 $983.5
BofA $693.0 $810.0
Nationstar $381.0 $392.6
Ocwen (as of Sep 30) $360.9 $465.3
Citi $315.3 $388.3
U.S. Bank $292.5 $293.4
Walter $194.8 $157.6
Quicken $161.1 $138.0
PNC $156.6 $164.9

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