Largest Mortgage Lenders Q3 2007
This entry was posted on 10/23/2007 3:16 PM and is filed under Mortgage.
October 22, 2007 PRNewswire/ — A preliminary analysis of third quarter earnings data
indicates residential mortgage originations fell 19.19 percent from the second
quarter, according to mortgagedaily.com — a
dominant source of online news for the mortgage industry.
Countrywide Financial Corp. reported $95 billion third quarter production
— sinking from $130.2 billion the prior quarter. Despite the decline, the
lender still ranks as the biggest in the country. Countrywide said it serviced
about 9 million loans for $1.46 trillion as of Sept. 30.
Wells Fargo & Co. came in next with $68 billion in reported fundings. The
San Francisco-based company saw its volume decline 15 percent from the prior
period. Wells' residential servicing portfolio ended the quarter at around
$1.32 trillion.
The No. 3 spot went to JPMorgan Chase & Co., which announced mortgage
production was $50 billion — declining from $58.7 billion the prior quarter.
JPMorgan's third party mortgage servicing portfolio was $600.0 billion,
according to the data.
The following ranking reflects the biggest mortgage lenders by
third quarter 2007 originations, including residential mortgage production and
home equity loan fundings:
Rank
Company
Production
1.
Countrywide
$94.6 billion
2.
Wells Fargo
$68.0 billion
3.
Chase Home Finance $50.4 billion
4.
Bank of America
$48.0 billion
5.
CitiMortgage
$36.6 billion
This table reflects the largest mortgage lenders by residential servicing
portfolio size as of Sept.
30, 2007:
Rank
Company
Servicing Portfolio
1.
Countrywide
$1.46 trillion
2.
Wells Fargo
$1.32 trillion
3.
Chase Home Finance $0.60
trillion
4.
CitiMortgage
$0.58 trillion
5.
Bank of America
$0.38 trillion
In depth mortgage production by lender, as well as subprime,
Alt-A, home equity and conforming originations are reported.
