Biggest Mortgage Lenders and Mortgage Servicers

DALLAS, Dec. 8, 2014 /PRNewswire/ -- Residential lenders lifted loan originations in the third quarter from the prior period but fell short of their year-earlier levels. There was a new No. 4 lender and No. 4 servicer.

Mortgage bankers originated an estimated $320 billion in mortgages during the period that started on July 1 and ended on Sept. 30.

Home lending activity increased from an estimated $300 billion in production generated during the second quarter.

During the first nine months of 2014, national production amounted to an estimated $890 billion.

Wells Fargo solidly remained the biggest lender in the country with $48 billion in third-quarter 2014 originations.

Also holding on to its prior-quarter ranking was No. 2 Chase with $22 billion in volume.

At $16 billion in third-quarter production, Quicken overtook Bank of America as the third-biggest lender.

The data were collected by Mortgage Daily for its Third Quarter 2014 Mortgage Origination Survey.

Originations By Lender
(billions)

Among lenders that generated at least $1 billion in third-quarter production, Navy Federal Credit Union saw the biggest increase in originations from the second quarter: 33%.

At the other end of the spectrum was Nationstar, where activity was down 7%.

Mortgage Daily data indicate that total U.S. originations fell 31% from the third-quarter 2013.

However, business skyrocketed 148% at Freedom Mortgage -- the best year-over-year performance.

Fifth Third on the other hand, saw originations plummet by 56% -- the biggest decline from a year earlier.

Servicing $1.8 trillion of U.S. outstandings was Wells Fargo -- the biggest servicer in the country.

The only change in position among the 10 largest servicers was Nationstar, which displaced Ocwen as the fourth-biggest servicer.

Servicing Portfolios By Lender
(in billions as of 9/30/14)

Full Q3 2014 report (complimentary for reporters):
http://www.MortgageDaily.com/stories/BiggestLenders120814.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. Mortgage Daily also publishes the Mortgage Market Index, Mortgage Litigation Index, Mortgage Fraud Index and ranking of the biggest lenders. Visit Mortgage Daily at www.MortgageDaily.com.

CONTACT:
[email protected]
214.521.1300

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/biggest-mortgage-lenders-and-mortgage-servicers-300005960.html

SOURCE MortgageDaily.com

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