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DALLAS, March 26, 2018 -- In the latest ranking of mortgage lenders and servicers, non-bank lenders gave up market share last year as overall mortgage originations turned lower on a quarterly and annual basis.
During the fourth-quarter 2017, home lenders originated an estimated $502 billion in new U.S. mortgages, according to data compiled by Mortgage Daily.
Business was modestly lower than $510 billion in the prior three-month period. An even bigger decline was recorded versus the upwardly revised $577 billion in the final quarter of 2016.
Banks were responsible for $211 billion of the most-recent total, while another $45 billion came from credit unions, and the remaining $246 billion was generated by non-bank lenders.
A ranking of the biggest lenders was produced by Mortgage Daily based on its Fourth Quarter 2017 Mortgage Origination Survey, quarterly earnings reports and other publicly available reports and announcements.
Retaining its standing as America's biggest mortgage lender, including retail and correspondent lending, was Wells Fargo -- though Quicken Loans claimed the No. 1 retail lender spot.
Originations By Lender (billions)
| Lender | Q4 2017 | |
| Wells Fargo | $53 | |
| Chase | $27 | |
| Quicken Loans | $25 | |
| US Bank | $18 | |
| PennyMac | $17 | |
On an annual basis, the nation's mortgage lenders closed an estimated $1.874 trillion last year, falling from an upwardly revised $2.112 trillion in 2016.
Bank originations were $0.743 trillion during all of 2017, giving the sector a 40 percent market share, the same as the previous year.
Credit union production was $174 billion last year, bringing credit union market share up to 9 percent from 8 percent a year prior.
Non-bank lending totaled $0.956 trillion in 2017. Non-bank market share slipped to 51 percent from 52 percent during 2016.
Originations By Lender - Annual (billions)
| Wells Fargo | $212 | |
| Chase | $108 | |
| Quicken | $86 | |
| PennyMac | $68 | |
| BofA | $68 | |
Wells Fargo maintained its No. 1 standing among mortgage servicers.
Servicing Portfolios By Lender
as of Dec. 31, 2017
| Wells Fargo | $1,551 | |
| Chase | $816 | |
| Nationstar | $518 | |
| BofA | $518 | |
| US Bank | $311 | |
Full Q4 2017 report (complimentary for reporters):
http://www.MortgageDaily.com/stories/Biggest-Mortgage-Lenders-032618.asp?spcode=pr
Quarterly mortgage production by lenders:
http://www.mortgagedaily.com/FundingsConforming.asp?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:
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214.521.1300
