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Biggest Retail and Wholesale Lenders

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Recently released government data revealed last year’s biggest wholesale and retail residential lenders. Meanwhile, an increase in quarterly wholesale originations by banks and thrifts wasn’t enough to offset a decline in retail business — though business soared compared to 2008.

Last year, U.S. financial institutions originated $1.7375 trillion in residential mortgages, according to data provided by the Federal Deposit Insurance Corporation to MortgageDaily.com. Production increased from $1.0304 trillion funded during 2008.

The total reflected closed-end first- and second-mortgage activity as well as home-equity line-of-credit commitments and principal funded at FDIC-insured banks and thrifts with at least $1 billion in assets or $10 million in quarterly originations.

Based on total U.S. originations of around $2 trillion during 2009, banks and thrifts were responsible for around 87 percent of all mortgage production.

Retail business accounted for $0.6941 trillion of last year’s activity, jumping from $0.3440 trillion in 2008. Wholesale production climbed to $1.0434 trillion from $0.6864 trillion.

Overall fourth-quarter production was $400.2 billion, easing from $412.9 billion in the prior quarter but leaping from just $220.7 billion the prior year.

Retail originations represented $148.5 billion of fourth-quarter activity, lower than $166.2 billion three months earlier.

Well Fargo Bank, N.A., was the biggest retail lender during the fourth quarter, with $48.9 billion in first-lien fundings. Retail business edged up from the third quarter’s $47.5 billion.

Bank of America, N.A., trailed Wells, closing $26.3 billion. BoA’s third-quarter production was $40.3 billion.

No. 3 JPMorgan Chase Bank, N.A., originated $11.8 billion during the fourth quarter, lower than $13.0 billion in third-quarter retail originations. Citibank, N.A., saw retail volume fall to $4.1 billion from $4.4 billion, and MetLife bank, N.A., production dropped to $3.7 billion from $3.8 billion.

Numbers six through 10, in ascending order, were SunTrust Bank; U.S. Bank, N.A.; Fifth Third Bank; PNC Bank, N.A.; and Branch Banking & Trust Co.

Aggregate wholesale originations climbed to $251.6 billion from the third quarter’s $246.7 billion.

The rankings weren’t a whole lot different on the wholesale side, with Wells Fargo pushing first-mortgage volume to $77.0 billion from $73.7 billion three months earlier. In addition, No. 3 was Wells Fargo Bank S Cntl, N.A., which saw broker business climb to $35.7 billion from $31.8 billion.

The second-biggest wholesale lender, BoA, funded $51.0 billion, higher than the third quarter’s $47.4 billion.

JPMorgan closed $22.5 billion in wholesale business, easing from $23.4 billion, and No. 5 Ally Bank originated $16.3 billion in wholesale mortgages, higher than the previous quarter’s $13.9 billion.

The remaining top-10 spots were filled out by U.S. Bank, Citibank, BB&T, SunTrust and Texas Capital Bank, N.A.

BoA had the highest level of repurchases and indemnifications: $10.2 billion. Citibank’s $4.5 billion was next, the JPMorgan’s $2.7 billion and Wells Fargo’s $0.5 billion. No. 5 was SunTrust with $0.3 billion in repurchases and indemnifications.

Fifth Third saw total fourth-quarter production of $4.7 billion, up from a revised $4.5 billion in the third quarter. At M&I Marshall & Ilsley Bank, volume fell to $0.4 billion from $0.5 billion.

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