The nation’s home lenders managed to lift quarterly mortgage production by more than a fifth as Wells Fargo & Co. maintained a tight grip on its top ranking as a lender and servicer.
From the period that started on April 1 and ended on June 30, all residential lenders originated an estimated total of $416 billion in mortgages.
The findings were based on an analysis of data collected by Mortgage Daily.
Loan production accelerated from the first quarter, when U.S. lenders closed an estimated $345 billion.
Activity also ascended from the second-quarter 2014, when an estimated $291 billion in residential loans were funded.
Federally insured banks originated $210 billion of the second-quarter 2015 total, according to data provided by the Federal Deposit Insurance Corp. However, the bank total was reduced by $48 billion to account for double-reporting on wholesale business, leaving the net amount at $162 billion.
Credit unions generated $43 billion of the most-recent total, data from Callahan & Associates indicates.
The remaining $211 billion was originated by state-licensed mortgage firms, according to the
Conference of State Bank Supervisors.
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Mortgage Market Share
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Wells Fargo & Co. maintained its standing as the nation’s biggest lender with $62 billion in mortgage originations during the second-quarter 2015, based on the Mortgage Daily Second Quarter 2015 Mortgage Origination Survey and an analysis of financial data reported by publicly traded lenders.
Total mortgage production includes residential originations and home-equity lending.
PennyMac Mortgage Investment Trust moved up one position from the first quarter to No. 6, pushing PHH Corp. down to No. 7 in the process.
Citigroup Inc. also moved up one spot to No.
9, pushing down Flagstar Bancorp Inc. to No. 10.
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Originations By Lender (billions/includes home-equity lending)
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Movement Mortgage LLC increased originations 56 percent between the first and second quarters of this year — more than any of the firms tracked by Mortgage Daily. Security Service Federal Credit Union followed with a 55 percent gain, then 53 percent at Pentagon Federal Credit Union, 52 percent at First Technology Credit Union and 50 percent at Bethpage Federal Credit Union.
With a
13 percent decline in new business, Provident Funding Associates had the biggest quarter-over-quarter drop.
At Impac Mortgage Holdings Inc., originations skyrocketed 460 percent from the second-quarter 2014 — the most of all lenders. Next was New American Funding, where closings climbed 115 percent, then a 99 percent gain at Guild Mortgage Co., a 97 percent increase at Navy and an 88 percent ascension at Stearns Lending Inc.
Ocwen’s activity was up one percent, the smallest year-over-year increase.
The 10-largest lenders had a combined market share of 49 percent during the most-recent three-month period.
Market Share By Lender
| Lender | Share |
| Wells Fargo | 14.9% |
| Chase | 7.0% |
| Quicken | 5.1% |
| BofA | 4.6% |
| U.S. Bank | 4.5% |
| PennyMac | 3.1% |
| PHH | 2.9% |
| Freedom | 2.5% |
| Citi | 2.1% |
| Flagstar | 2.0% |
Wells Fargo also kept its No 1 position among the biggest mortgage servicers, with a total portfolio of $1.691 trillion.
Mortgage Daily includes both third-party servicing and loans in the investment portfolio in the servicing portfolio totals.
Citi moved up one slot from the first quarter to No. 5 in servicing, while U.S. Bank ascended one position to No. 6. Ocwen fell from No. 5 to
No. 7 in the second quarter.
as of June 30, 2015
(billions/includes investment loans/
excludes sub-servicing)
| Wells Fargo | $1,691 |
| Chase | $917 |
| BofA | $610 |
| Nationstar Mortgage LLC | $404 |
| Citi | $294 |
| U.S. Bank | $293 |
| Ocwen Financial Corp. | $270 |
| Walter Investment Management Corp. | $229 |
| Quicken | $177 |
| PNCÂ Financial Services Group Inc. | $163 |
