Biggest Mortgage Originators, Servicers Q3 2015

Jan 11, 2016, 10:30 ET from Mortgage Daily

DALLAS, Jan. 11, 2016 /PRNewswire/ -- Mortgage firms saw quarterly volume slow as nonbanks continued to take market share from banks. One bank, however, grew its market share.

Lenders generated an estimated $430 billion in mortgage originations during the third-quarter 2015.

Business declined from the second quarter, when estimated production was $430 billion.

The latest volume increased, however, from $344 billion in the third-quarter 2014.

Banks were responsible for around $190 billion of third-quarter 2015 production, while another $40 billion was generated by credit unions, and the remaining $200 billion came from nonbanks.

As shown in the following table, nonbank originators continued to gain market share at the expense of banks.

Mortgage Market Share

Lender Type

Q3 2015

Q2 2015

Q3 2014

Banks

44%

45%

46%

Credit Unions

9%

9%

9%

Non-Banks

47%

45%

45%

 

The biggest mortgage lender again was Wells Fargo.

The ranking was based on an analysis of data collected for the Mortgage Daily Third Quarter 2015 Mortgage Origination Survey, quarterly earnings data and news releases.

US Bank grabbed the No. 3 spot from Quicken Loans during the most-recent period.

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

Lender

Q3 2015

Q2 2015

Q3 2014

Wells Fargo

$55

$62

$48

Chase

$30

$29

$22

US Bank

$20

$19

$15

Quicken

$20

$21

$16

Bank of America

$17

$19

$15

 

A 46 percent quarter-over-quarter gain at Movement Mortgage was the biggest. At Impac Mortgage, lending accelerated by 149 percent from a year earlier -- the largest year-over-year improvement.

Wells Fargo's market share exceeded that of the next two-biggest lenders combined.

Market Share By Lender Q3 2015

Lender

Share

Wells Fargo

13%

Chase

7%

US Bank

5%

Quicken

5%

BofA

4%

 

Wells Fargo also maintained its No. 1 servicer ranking.

US Bank moved from the sixth position in the second quarter to No. 5 this time around.

Servicing Portfolios
as of Sept. 30, 2015
(billions)

Wells Fargo

$1,669

Chase

$929

BofA

$580

Nationstar Mortgage

$408

US Bank

$298

 

Full Q3 2015 report (complimentary for reporters): http://www.MortgageDaily.com/stories/BiggestLenders011116.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:
NewsAlert@MortgageDaily.com
214.521.1300

 

SOURCE Mortgage Daily