Biggest Mortgage Lenders and Servicers in Q2
DALLAS, Sept. 14, 2015 /PRNewswire/ -- Home lenders managed to lift quarterly production by more than a fifth as Wells Fargo maintained a tight grip on its top ranking.
During the second quarter, lenders originated an estimated $416 billion in mortgages. The findings were based on an analysis of data collected by Mortgage Daily.
Production accelerated from the first quarter, when lenders closed an estimated $345 billion.
Activity also ascended from the second-quarter 2014, when an estimated $291 billion was funded.
Banks originated $162 billion of the second-quarter 2015 total, while credit unions generated $43 billion and $211 billion was originated by nonbanks.
| Mortgage Market Share |
|
| Banks |
39% |
| Credit Unions |
10% |
| Non-Banks |
51% |
Wells Fargo maintained its standing as the nation's biggest lender based on the Mortgage Daily Second Quarter 2015 Mortgage Origination Survey and an analysis of financial data reported by publicly traded lenders.
PennyMac moved up one position from the first quarter to No. 6, pushing PHH down to No. 7.
Citi also moved up one spot to No. 9, pushing down Flagstar.
| Originations By Lender |
|
| (billions) |
|
| Lender |
Q2 2015 |
| Wells Fargo |
$62 |
| Chase |
$29 |
| Quicken |
$21 |
| BofA |
$19 |
Movement Mortgage increased originations 56% between the first and second quarters -- more than any of the firms tracked by Mortgage Daily.
At Impac Mortgage, originations skyrocketed 460% from the second-quarter 2014 -- the most of all lenders.
The 10-largest lenders had a combined market share of 49% during the second quarter.
| Market Share |
|
| Wells Fargo |
15% |
| Chase |
7% |
| Quicken |
5% |
| BofA |
5% |
| US Bank |
5% |
Wells Fargo also kept its No. 1 position among the biggest mortgage servicers.
Citi moved up one slot from the first quarter to No. 5, while US Bank ascended to No. 6. Ocwen fell from No. 5 to No. 7.
| Servicing Portfolios as of June 30, 2015 |
|
| (billions) |
|
| Wells Fargo |
$1,691 |
| Chase |
$917 |
| BofA |
$610 |
| Nationstar |
$404 |
| Citi |
$294 |
Full Q2 2015 report (complimentary for reporters):
http://www.MortgageDaily.com/stories/BiggestLenders091415.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
SOURCE MortgageDaily.com
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