DALLAS, Aug. 19, 2013 /PRNewswire/ -- Among the largest lenders in the country, two companies traded positions as industry-wide quarterly originations edged up. Initial indications are that the current quarter's production is on track for a decline. Meanwhile, the second- and third-biggest servicers traded rankings.
Home loans funded by U.S. lenders totaled an estimated $502 billion during the second quarter, according to Mortgage Daily's Mortgage Lender Ranking.
The estimate was based on earnings data, publicly disclosed statistics and a quarterly survey conducted by Mortgage Daily.
Overall activity increased around 2% from the first quarter.
Compared to the second-quarter 2012, production has risen more than 8%.
Wells Fargo maintained its standing as the biggest residential lender in the country.
A distant second was JPMorgan Chase, while Bank of America regained its No. 3 ranking after falling behind Quicken Loans in the first quarter.
| Q2 2013 Originations |
||
| Rank |
Lender |
Volume ($ billions) |
| Total. |
U.S. (est.) |
$502.0 |
| 1. |
Wells Fargo |
$112.0 |
| 2. |
Chase |
$49.5 |
| 3. |
BofA |
$26.8 |
| 4. |
Quicken |
$23.8 |
| 5. |
U.S. Bank |
$19.1 |
Walter Mortgage soared to $4.7 billion from the first quarter's $0.4 billion -- the biggest percentage gain of all lenders tracked.
Production at Nationstar Mortgage more than doubled from the first quarter -- the second-best quarter-over-quarter performance of any top lender.
The biggest quarter-over-quarter loss was suffered by Ocwen Financial.
Nationstar's business nearly quadrupled from the second-quarter 2012, the best year-over-year improvement.
With a 250% increase, Stonegate Mortgage delivered the second-largest increase from the year-earlier period.
United Shore followed with a 156% ascension, then 154% at PennyMac.
Based on the Mortgage Market Index from LoanSifter and Mortgage Daily, third-quarter originations from all lenders are likely to decline by around 22%.
Wells Fargo held on to its top-servicer standing, and BofA relinquished its No. 2 rank to Chase.
| Biggest Servicers as of June 30 |
||
| Rank |
Servicer |
Portfolio Size ($ trillions) |
| 1. |
Wells Fargo |
$1.9 |
| 2. |
Chase |
$1.0 |
| 3. |
BofA |
$1.0 |
| 4. |
Ocwen |
$0.4 |
| 5. |
Citigroup |
$0.4 |
Full Q2-2013 report (complimentary for reporters):
http://www.MortgageDaily.com/Production081813.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:
Holly Himelright
[email protected]
3811-700 Turtle Creek Blvd.
Dallas, TX 75219
SOURCE MortgageDaily.com
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