Biggest Mortgage Lenders in Q2

PR Newswire

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

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