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DALLAS, Sept. 26, 2016 -- As quarterly mortgage lending activity made a big leap, two large financial institutions traded spots on the list of the country's biggest originators.
Data collected by Mortgage Daily indicate that there were an estimated $488 billion in residential loan originations during the second quarter.
Home-lending activity accelerated from the previous three-month period, when national mortgage production came to an estimated $354 billion.
A modest gain was made compared to the second quarter of last year, a period when U.S. loan originations totaled $478 billion.
Second-quarter 2016 production included $213 billion in mortgages originated by banks. Another $44 billion came from credit unions, and non-bank originators delivered the remaining $232 billion.
Wells Fargo solidly maintained its position as the nation's largest mortgage lender with $63 billion in second-quarter 2016 production.
Mortgage Daily collected the mortgage lending data for individual companies from quarterly financial statements, filings with the Securities and Exchange Commission, company announcements and the Mortgage Daily Second Quarter 2016 Mortgage Origination Survey.
Bank of America, which ranked No 5 in the first-quarter report, bumped U.S. Bancorp from the fourth spot in the latest ranking.
Originations By Lender
(billions/includes home-equity lending)
| Lender | Q2 2016 | ||
| U.S. Total | $ | 488 | |
| Wells Fargo | $ | 63 | |
| JPMorgan Chase | $ | 25 | |
| Quicken Loans | $ | 23 | |
| BofA | $ | 21 | |
| U.S. Bank | $ | 20 | |
Prosperity Home Mortgage second-quarter 2016 originations soared 76 percent from the first quarter -- the biggest quarter-over-quarter gain of all lenders tracked by Mortgage Daily.
Walter Investment Management reported that volume was down 4 percent, the only quarter-over-quarter decline.
Compared to the second-quarter 2015, Movement Mortgage pushed up business by 57 percent -- the biggest year-over-year gain.
With originations plummeting 36 percent from a year earlier, Walter Investment saw the biggest year-over-year plunge in business.
Wells Fargo also held on to its title of biggest servicer with a $1.6 trillion mortgage servicing portfolio.
The ranking of the top-10 servicers was unchanged from the first quarter.
Servicing Portfolios as of June 30, 2016
(billions)
| Wells Fargo | $ | 1,599 | |
| Chase | $ | 880 | |
| BofA | $ | 611 | |
| Nationstar Mortgage LLC | $ | 369 | |
| U.S Bank | $ | 304 |
Full Q2 2016 report (complimentary for reporters):
http://www.MortgageDaily.com/stories/BiggestLenders092316.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: [email protected] 214.521.1300
