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
[email protected]
3811-700 Turtle Creek Blvd.
Dallas, TX 75219
SOURCE MortgageDaily.com
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