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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 Mortgage Lenders 2016

Estimated Q4 originations $517 billion

April 3, 2017

By Mortgage Daily staff

Although quarterly mortgage originations dipped from the previous period, there was an increase in annual volume. There was some jockeying for position among the nation's 10 largest lenders.

U.S. home lenders originated an estimated $517 billion during the final-three months of 2016, according to data collected for the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.

Mortgage production declined from the previous three-month period, when $568 billion in residential loans were closed. But activity accelerated from $375 billion in the final quarter of 2015.

Banks were responsible for $236 billion of fourth-quarter 2016 originations, while credit unions generated $48 billion and non-banks accounted for $233 billion.

Wells Fargo & Co. maintained its position as the country's biggest mortgage lender.

PennyMac Mortgage Investment Trust climbed to fourth position in the latest quarter from No. 5 in the third quarter, while Bank of America Corp. also moved up one spot to No. 5.

The fourth-biggest lender in the third-quarter ranking, US Bancorp, dropped to No. 6.

Originations By Lender - Quarterly
(billions/includes home-equity lending)
Lender Q4 2016 Q3 2016 Q4 2015
U.S. Total $517 $568 $375
Wells Fargo $72 $70 $47
JPMorgan Chase & Co. $34 $31 $25
Quicken Loans Inc. $27 $27 $19
PennyMac $22 $21 $11
BofA $22 $20 $17
US Bank $21 $21 $17
Freedom Mortgage Corp. $15 $17 $8
Caliber Home Loans Inc. $12 $13 na
loanDepot LLC $12 $10 $7
PHH Corp. $9 $10 $9

For all of 2016, the nation's mortgage bankers generated $1.927 trillion in mortgage production -- including $846 billion at banks, $173 billion at credit unions and $909 billion at non-banks.

The overall total jumped from $1.683 billion in 2015.

Wells Fargo had the most originations last year, while BofA bumped U.S. Bank from the No. 4 spot. PHH fell from No. 7 in 2015 to No. 10 in 2016, and both Citigroup Inc. and Flagstar Bancorp Inc. dropped off the top-10 list entirely.

Freedom Mortgage didn't participate in the First-Quarter 2016 Mortgage Origination Survey, so their production for that period was estimated at $8.6 billion.

Originations By Lender -- Full Year
(billions/includes home-equity lending)
Lender 2016 2015
U.S. Total $1,927 $1,683
Wells Fargo $249 $213
Chase $117 $106
Quicken $96 $79
BofA $79 $70
US Bank $79 $71
PennyMac $70 $48
Freedom Mortgage $53 $37
Caliber $40 $26
loanDepot $38 $29
PHH $37 $41

Data reported by CoreLogic Inc. indicate that there were 51,209,000 residential loans outstanding as of Dec. 31, 2016, with an aggregate unpaid principal balance of $9.320 trillion. Outstanding mortgages grew from 51,078,000 loans for $9.249 trillion three months earlier and 50,599,000 loans for $9.062 trillion a year earlier.

Wells Fargo also kept its title of biggest primary mortgage servicer. Quicken bumped Citigroup Inc. from the sixth spot as of Sept. 30, 2016, and Walter Investment Management Corp.  fell off the list of the 10-biggest servicers.

Servicing Portfolios By Lender
as of Dec. 31, 2016
(billions/includes investment loans/
excludes sub-servicing)
U.S. Total $9,320
Wells Fargo $1,552
Chase $847
BofA $565
Nationstar Mortgage LLC $484
US Bank $306
Quicken $242
Citi $234
Ocwen Financial Corp. $208
PNC Financial Services Group Inc. $170
SunTrust Banks Inc. $160.175

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