Top 10 Mortgage Lenders First Quarter 2010

July 23, 2010 No Comments »

wells fargo

Below is a list of the top 10 residential mortgage lenders in the first quarter of 2010, based on data from MortgageStats.com.

Each bank in the top 10 saw fundings drop compared to a year earlier, with many seeing declines of 25-50 percent.

Wells Fargo led the way with $77 billion in first quarter loan originations, followed closely by Bank of America with $71.5 billion and Chase with $32.8 billion.

The San Francisco-based bank and mortgage lender held a 24 percent market share, while Bank of America grabbed 22 percent and Chase took 10 percent.

The numbers dropped off significantly from there, with Ally Bank/ResCap (GMAC) doing just $13 billion in lending volume, followed by CitiMortgage with $11 billion and U.S. Bank Home Mortgage with $9 billion.

The biggest year-over-year loser was SunTrust, which saw fundings fall 58 percent from the first quarter of 2009, back when refinancing was the hot ticket.

Top 10 Mortgage Lenders First Quarter 2010

1. Wells Fargo – $77 billion (-25%) 23.90% market share
2. Bank of America – $71.5 billion (-20%) 22.19% market share
3. Chase – $32.8 billion (-16%) 10.16% market share
4. Ally Bank/ResCap (GMAC) – $13 billion (-2%) 4.02% market share
5. CitiMortgage, Inc. – $11 billion (-55%) 3.43% market share
6. U.S. Bank Home Mortgage – $9 billion (-33%) 2.78% market share
7. PHH Mortgage – $7.8 billion (-12%) 2.43% market share
8. SunTrust Bank – $5.6 billion (-58%) 1.75% market share
9. Provident Funding Associates – $5.3 billion (-52%) 1.65% market share
10. Branch Banking & Trust Company – $5.2 billion (-33%) 1.60% market share

The market share information is based on an estimated total market size of $322,551,000,000.

Leave A Response