[In February 2011, Mortgage Daily issued a press release noting that the nation’s three biggest mortgage lenders were responsible for more than half of all U.S. home loan originations. These institutions had grown so large that they dominated the market, reflecting a wave of consolidation in the wake of the financial crisis.
According to Mortgage Daily’s mortgage lender ranking for 2010, the top three lenders collectively accounted for over 50 percent of home loan volume. Wells Fargo led the pack, followed by Bank of America and JPMorgan Chase. The rankings underscored how smaller lenders struggled to compete as larger institutions used their scale to capture refinances and purchase business.
Key points:
– The top three lenders closed more than half of all U.S. mortgages in 2010.
– Wells Fargo was the largest originator, followed by Bank of America and JPMorgan Chase.
– Market concentration increased as smaller lenders exited or were acquired post-crisis.
– Industry experts debated whether consolidation would lead to tighter credit or efficiencies for borrowers.
For more detailed ranking data and ongoing coverage of the mortgage industry, visit our [Mortgage Lender Ranking](/mortgagelenderranking/) and [Mortgage News](/news/) sections.
