Mortgage Daily Logo
mortgage news from industry experts

Biggest U.S. Mortgage Lenders


Biggest U.S. Mortgage Lenders

DALLAS — (Aug. 13, 2012) /PRNewswire/ Second-quarter mortgage originations jumped 48.7% from a year ago, according to mortgage lender ranking data compiled by Mortgage Daily. Business was up 4.6% from the first quarter.

Residential lenders closed approximately $403 billion in loans during the second quarter.

FHA-insured loans accounted for around 15% of activity, while Fannie Mae and Freddie Mac funded roughly 81% — pushing the government share of home lending to nearly 97% from the previous quarter’s 94%. Government support increased as demand strengthened for HARP 2.0.

FHA originations expanded 15% between the first and second quarters, and new inquiries for FHA loans have grown over the past couple weeks.

More than half of all U.S. volume was closed by the four-biggest lenders.

Wells Fargo & Co. maintained its dominance of the mortgage market, though its market share slipped to around 32.5% from the first quarter’s 33.5%.

With a 28% improvement on a linked-quarter basis, Quicken Loans ascended to the No. 5 position in the latest ranking.

Q1 2012 Market
1. Wells 32.5%
2. Chase 11.0%
3. USBank 5.4%
4. BofA 4.7%
5. Quicken 3.4%

Among the fastest-growing lenders based on a comparison to first-quarter volume was PennyMac Mortgage Investment Trust, where production leapt 89%. Primary Residential Mortgage Inc. and United Wholesale Mortgage each saw originations grow by half.

Compared to a year earlier, several mortgage bankers more than doubled their business — with PennyMac and United Wholesale leading the pack.

Third-quarter mortgage originations are likely to match the second quarter based on the Mortgage Market Index from Mortech Inc. and Mortgage Daily. The average index since the beginning of July has so far averaged about the same as the second-quarter average.

Wells Fargo also retained its No. 1 mortgage servicer ranking.

With its recent acquisition of mortgage servicing rights, Nationstar Mortgage became a top-10 servicer. Nationstar’s standing could improve significantly if it is successful in its bid to acquire mortgage servicing assets from bankrupt Residential Capital.

Top Servicers
1. Wells Fargo
2. BofA
3. Chase
4. Citigroup
5. USBank


Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts