Mortgage Daily 2016 Biggest Lender Ranking DALLA
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DALLAS, April 03, 2017 (GLOBE NEWSWIRE) -- 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 maintained its position as the country's biggest mortgage lender. PennyMac climbed to fourth position in the latest quarter from No. 5 in the third quarter, while Bank of America also moved up one spot to No. 5. The fourth-biggest lender in the third-quarter ranking, US Bank, dropped to No. 6.
Originations By Lender - Q4 2016
Wells Fargo | $ | 72 | |
Chase | $ | 34 | |
Quicken Loans | $ | 27 | |
PennyMac | $ | 22 | |
Bank of America | $ | 22 | |
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.
Originations By Lender -- 2016
Wells Fargo | $ | 249 | |
Chase | $ | 117 | |
Quicken | $ | 96 | |
BofA | $ | 79 | |
US Bank | $ | 79 | |
Wells Fargo also kept its title of biggest primary mortgage servicer.
Servicing Portfolios as of Dec. 31, 2016
Wells Fargo | $ | 1,552 | |
Chase | $ | 847 | |
BofA | $ | 565 | |
Nationstar Mortgage | $ | 484 | |
US Bank | $ | 306 | |
Full Q4 2016 report (complimentary for reporters): http://www.MortgageDaily.com/stories/BiggestL...?spcode=pr Quarterly mortgage production by lenders: http://www.mortgagedaily.com/FundingsConformi...?spcode=pr Mortgage origination news at: http://www.mortgagedaily.com/Fundings.asp?spcode=pr 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 at www.MortgageDaily.com .
CONTACT: NewsAlert@MortgageDaily.com 214.521.1300

