Mortgage Daily 2016 Biggest Lender Ranking

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| Source: Mortgage Daily

DALLAS, April 03, 2017 (GLOBE NEWSWIRE) -- Although quarterly mortgage originations dipped from the previous period, there was an increase in annual volume. There was some jockeying for position among the nation's 10-largest lenders.

U.S. home lenders originated an estimated $517 billion during the final-three months of 2016, according to data collected for the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.

Mortgage production declined from the previous three-month period, when $568 billion in residential loans were closed. But activity accelerated from $375 billion in the final quarter of 2015.

Banks were responsible for $236 billion of fourth-quarter 2016 originations, while credit unions generated $48 billion and non-banks accounted for $233 billion.

Wells Fargo maintained its position as the country's biggest mortgage lender.

PennyMac climbed to fourth position in the latest quarter from No. 5 in the third quarter, while Bank of America also moved up one spot to No. 5.

The fourth-biggest lender in the third-quarter ranking, US Bank, dropped to No. 6.

Originations By Lender - Q4 2016

    
Wells Fargo $72
Chase $34
Quicken Loans $27
PennyMac $22
Bank of America $22
    

For all of 2016, the nation's mortgage bankers generated $1.927 trillion in mortgage production -- including $846 billion at banks, $173 billion at credit unions and $909 billion at non-banks.

The overall total jumped from $1.683 billion in 2015.

Wells Fargo had the most originations last year, while BofA bumped U.S. Bank from the No. 4 spot.

Originations By Lender -- 2016

    
Wells Fargo $249
Chase $117
Quicken $96
BofA $79
US Bank $79
    

Wells Fargo also kept its title of biggest primary mortgage servicer.

Servicing Portfolios as of Dec. 31, 2016

    
Wells Fargo $1,552
Chase $847
BofA $565
Nationstar Mortgage $484
US Bank $306
    

Full Q4 2016 report (complimentary for reporters):
http://www.MortgageDaily.com/stories/BiggestLenders040317.asp?spcode=pr

Quarterly mortgage production by lenders:
http://www.mortgagedaily.com/FundingsConforming.asp?spcode=pr

Mortgage origination news at:
http://www.mortgagedaily.com/Fundings.asp?spcode=pr

About Mortgage Daily
Founded in 1998 by 20-year mortgage industry veteran Sam Garcia, Mortgage Daily is a leading online source of mortgage news and mortgage statistics for the mortgage industry. Visit Mortgage Daily at www.MortgageDaily.com.

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