Wells Fargo Top Mortgage Lender in Fourth Quarter 2010

April 27, 2011 No Comments »

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Wells Fargo took top honors in the residential mortgage lending space for the fifth consecutive quarter, with loan origination volume of $130 billion in the fourth quarter, according to MortgageStats.com.

The San Francisco-based bank and mortgage lender saw volume increase 36 percent from a year earlier and 26 percent from the third quarter.

The company claimed a more-than-healthy 24 percent market share, well above second-ranked Bank of America, who held a 16 percent share with $87 billion in loan origination volume.

BofA actually saw fundings drop three percent from a year ago, though they were up markedly from the $74 billion seen in the third quarter.

Chase rounded out the top three with $53 billion in loan volume, grabbing nearly 10 percent market share (9.9%).

The New York-based bank and lender saw fundings increase 49 percent from a year earlier.

CitiMortgage and Ally Bank/Rescap (GMAC) took the fourth and fifth slots, respectively, with nearly identical loan origination volume of just over $23 billion.

The lenders saw year-over-year increases of 108 percent and 32 percent, respectively.

But the top year-over-year gainer was actually PHH Mortgage, who saw mortgage fundings jump 112 percent to $18 billion.

Check out the top ten mortgage lenders below:

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