Biggest Mortgage Lenders in 2012

Feb 25, 2013, 08:07 ET from MortgageDaily.com

DALLAS, Feb. 25, 2013 /PRNewswire/ -- Mortgage companies increased originations last year, and there was some shifting among the five-biggest lenders. A new No. 3 lender emerged in the fourth quarter, and volume during the current quarter is likely to slow. Among mortgage servicers, three growing players have ascended to top-10 positions.

Residential lenders originated around 3% more in U.S. loans during the fourth quarter than in the third quarter, according to the 2012 Mortgage Lender Ranking from Mortgage Daily. Activity includes residential and home-equity originations and was based on surveys, earnings data and other data.

Compared to the fourth-quarter 2011, production grew 17%.

Wells Fargo maintained its stranglehold on the Q4 leader, and Quicken Loans ascended from the No. 5 spot in Q3 to No. 3 this time around.  

Q4 2012

Originations

Rank

Lender

1.

Wells

2.

Chase

3.

Quicken

4.

BofA

5.

USBank

An analysis of the U.S. Mortgage Market Index report from Optimal Blue and Mortgage Daily indicates that first-quarter originations are likely to fall 16% from Q4 2012.

For all of 2012, home lending by all lenders was up 30% from 2011.

Including FHA-insured loans and estimated VA volume, government share worked out to around 20% of the mortgage market.

Fannie Mae and Freddie Mac collectively financed approximately 73% of last year's originations.

Wells Fargo ranked as 2012's biggest lender.

Annual Originations

2012 Rank

Lender

1.

Wells

2.

Chase

3.

USBank

4.

BofA

5.

Quicken

Wells Fargo remained the country's biggest mortgage servicer.

BofA reduced its servicing portfolio 21% in 2012, while Ally Financial saw its portfolio decline 63% as a result of ResCap's bankruptcy.

Ocwen and Nationstar nearly doubled their portfolios.

Although it didn't make the top-10 list, Walter Investment recently acquired MSRs that keep it in contention with Ocwen and Nationstar.

In addition to third-party servicing, total servicing includes held-for-investment residential and home-equity assets.

Servicing Portfolios

as of Dec. 31, 2012

Rank

Servicer

1.

Wells Fargo

2.

BofA

3.

Chase

4.

Citi

5.

USBank

Full 2012 report:
http://www.mortgagedaily.com/Production022513.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 MortgageDaily.com

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:
Holly Himelright
NewsAlert@MortgageDaily.com
3811-700 Turtle Creek Blvd.
Dallas, TX 75219

SOURCE MortgageDaily.com