Largest Mortgage Lenders Q3 2007

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.

Posted by Mark Rodrigues at 10/23/2007 3:16 PM
Categories: Mortgage
 

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