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Mortgage Daily Q1 2016 Biggest Lender Ranking

DALLAS, July 11, 2016 (GLOBE NEWSWIRE) -- Two firms moved up a couple notches in the latest ranking of mortgage originators and servicers. The outlook for new lending activity is likely to improve thanks to Brexit.

Residential lenders, including non-bank mortgage firms and financial institutions, closed an estimated $354 billion in home loans during the first-three months of this year.

Estimated mortgage production was down from $375 billion in the fourth-quarter 2015. Home lending activity also receded from $395 billion in the first-quarter 2015.

The estimate was based on a Mortgage Daily analysis of data provided the by the Federal Deposit Insurance Corp., Callahan & Associates and the Conference of State Bank Supervisors.

Banks were responsible for 43 percent of first-quarter 2016 originations, while credit unions generated 9 percent of the total, and non-banks funded 48 percent.

With $44.0 billion in first-quarter 2016 production, Wells Fargo & Co. maintained its tight grip on its title of biggest mortgage originator.

loanDepot LLC moved up from No. 10 in the fourth-quarter 2015 to No. 8 in the latest ranking, while Citigroup Inc. dropped to 10th position from the eighth spot three months earlier. 

Data by company was derived from the Mortgage Daily First Quarter 2016 Mortgage Origination Survey, public filings and company announcements.

Quarterly Originations By Lender
(billions/includes home-equity lending)

LenderQ1 2016
U.S. Total$354 
Wells Fargo$44 
JPMorgan Chase & Co.$22 
Quicken Loans Inc.$19 
U.S. Bancorp$17 
Bank of America Corp.$16  

The significant decline in interest rates as a result of the market volatility caused from the recent vote by citizens of Great Britain to exit the European Union are likely to drive up origination forecasts for the rest of this year.

Mortgage debt outstanding has grown since the same quarter 12 months earlier, when there were $8.841 trillion in residential loans outstanding.

Based on the size of primary servicing portfolios, San Francisco-based Wells Fargo was also the biggest mortgage company. Wells Fargo serviced approximately 18 percent of all mortgages.

Walter Investment Management Corp. replaced Ocwen Financial Corp. as the seventh-largest mortgage servicer.

Servicing Portfolios as of March. 31, 2016

U.S. Total$9,110 
Wells Fargo$1,622 
Nationstar Mortgage LLC$386 
U.S Bank$303  

Full Q1 2016 report (complimentary for reporters):

Quarterly mortgage production by lenders:

Mortgage origination news at:

About Mortgage Daily
Founded in 1998 by 20-year mortgage industry veteran Sam Garcia, Mortgage Daily is a leading online source of mortgage news and mortgage statistics for the mortgage industry. Visit Mortgage Daily


Source:Mortgage Daily