Most of the 10-largest home lenders improved on their quarterly loan originations. But among the 10-biggest mortgage servicers, half saw their portfolios diminish.
Based on an average of origination forecasts published by Fannie Mae, Freddie Mac
and the Mortgage Bankers Association, an estimated $334 billion in residential loans were closed during the three months ended March 31.
Compared to the
final quarter of last year, industry-wide home loan production ascended by 11 percent.
The increase was more pronounced versus the first-quarter 2014, with a 36 percent year-over-year improvement turned in by home lenders.
Based on the Mortgage Daily First Quarter 2015 Mortgage Origination Survey and an analysis of financial data reported by publicly traded lenders,
Wells Fargo & Co. was the biggest home lender again with $49 billion in first-quarter originations.
In fact, there was no change in standing among America’s eight-biggest mortgage originators.
All of the top-10 lenders grew their business from the prior quarter except U.S. Bank Home Mortgage, where business slipped, and PHH Mortgage, which reported that originations were mostly flat.
|
Originations By Lender (billions/includes home-equity lending)
|
Based on estimated market share of the mortgage origination market, the top-10 lenders were responsible for almost half of all mortgage production during the first-quarter 2015.
Market Share By Lender
| Lender | Share |
| Wells Fargo | 14.7% |
| Chase | 7.4% |
| Quicken | 5.8% |
| BofA | 5.1% |
| U.S. Bank | 4.3% |
| PHH | 2.8% |
| PennyMac | 2.7% |
| Freedom | 2.6% |
| Flagstar | 2.2% |
| Citi | 2.1% |
First-quarter originations at Impac Mortgage Holdings Inc. soared 106 percent from the fourth-quarter 2014 — the biggest quarter-over-quarter gain by lenders tracked by Mortgage Daily.
Next was Provident Funding Associates LP, where production climbed 60 percent.
Guild Mortgage Co. reported a 32 percent gain, then 26 percent at New American Funding and 23 percent at Churchill Mortgage.
With a 16 percent drop between the fourth-quarter 2014 and the first-quarter 2015, Stonegate Mortgage saw the biggest decline of any lender tracked by Mortgage Daily.
Fannie estimates that $9.878 trillion in mortgages were outstanding as of the first-quarter 2015.
Well Fargo was responsible for servicing $1.718 trillion of the nation’s collective book of business as of
March 31 — leaving it as the biggest mortgage servicer in the country.
There was no change in ranking among the 10-biggest servicers compared to the fourth-quarter 2014.
But five of the top-10 servicers all saw a decline in the size of their servicing portfolios.
as of March 31, 2015
(billions/includes investment loans/
excludes sub-servicing)
| U.S. Total | $9,878.0 |
| Wells Fargo | $1,718.0 |
| Chase | $924.3 |
| BofA | $669.0 |
| Nationstar | $390.2 |
| Ocwen Financial Corp. | $382.2 |
| Citi | $303.0 |
| U.S. Bank | $292.1 |
| Walter | $195.3 |
| Quicken | $167.1 |
| PNC | $161.0 |
