Biggest Q3 Mortgage Companies

As the country’s mortgage lenders boosted quarterly production, there were some changes among the top-ranked originators and servicers.

U.S. home lenders originated an estimated
$568 billion in mortgages during the period that began on Sept. 1, 2016, and concluded on Dec. 31.

Residential loan production climbed from $488 billion in the second quarter. Activity also ascended from $435 billion in the third-quarter 2015.

Included in the estimated third-quarter 2016 total were $245 billion in loans originated by banks, $48 billion in mortgages closed by credit unions and $275 billion in non-bank production.

Origination data by lender was collected from the Mortgage Daily Third Quarter 2016 Mortgage Origination Survey, quarterly earnings reports and company news releases.

Maintaining its position as the No. 1 mortgage lender in the country was Wells Fargo & Co. with
a 12.3 percent market share.

Bank of America Corp. dropped from fourth position in the second quarter to sixth in the latest ranking.

Caliber Home Loans Inc.
climbed from 10th place to eighth, and PHH Corp. dropped to No. 10 from No. 8.

Compared to the second quarter of this year, business at Caliber soared 35 percent — the biggest quarter-over-quarter gain of any lender tracked by Mortgage Daily.

At the other end of the spectrum was First Republic Bank, where activity diminished by 5 percent.

At Finance of America Mortgage, loan originations shot up 94 percent versus the third-quarter 2015 — the biggest year-over-year increase.

A 25 percent drop from a year earlier at Stonegate Mortgage Corp. was
the worst year-over-year performance.

CoreLogic Inc. reported that there were $9.249 trillion in mortgages outstanding as of Sept. 30, 2016.

Wells Fargo, which serviced 17.1 percent of all loans, also stayed atop the servicer ranking. Quicken climbed to seventh position from ninth in the second quarter, and Ocwen Financial Corp. dropped a slot to No. 9.