WHO ARE THE TOP 5 LENDERS FOR 3RD QTR 2012?

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Biggest mortgage servicers and lenders

DALLAS – Nov. 21, 2012 – According to Mortgage Daily’s third quarter report, residential originations rose 11 percent since the second quarter. Total mortgage production hit $475 billion. HARP 2.0 activity helped boost the third quarter numbers.

When comparing lenders, individual market share was a little less concentrated at the top during the third quarter. However, business improved since the second quarter, and, according to Mortgage Daily, the uptick should hold at least through 2012. It predicts fourth quarter results will mirror the uptick seen in the third quarter.

“The servicing landscape is undergoing a transformation,” the company says in a release.

FHA loans accounted for about 13 percent of third quarter originations, a slight decline from the 14 percent in the second quarter. Fannie Mae and Freddie Mac were responsible for around 74 percent of third quarter activity compared to 73 percent in the second quarter.

While the five biggest lenders had the same rank in originations that they did in the second quarter, all but Quicken Loans and Bank of America saw a decline in market share. Combined share for the top five was 53 percent; in the second quarter, the top five had a 54 percent share compared to 54 percent in the second quarter.

Biggest Q3 lenders
1. Wells 29.3 percent
2. Chase 10.0 percent
3. USBank 4.5 percent
4. BofA 4.5 percent
5. Quicken 4.2 percent

PennyMac achieved the biggest increase from the second quarter, then Stonegate Mortgage, United Shore Financial Services and Quicken. Fifth Third had the worst performance.

Compared to the third-quarter 2011, PennyMac had the biggest gain. Next were Stonegate and United Shore. The worst record was Ally Financial’s.

A shakeup in progress is likely to significantly alter the biggest servicer lineup. Ocwen Financial plans to acquire Homeward Residential and ResCap mortgage assets. Nationstar Mortgage and Walter Investment each reported servicing rights of at least $500 billion in their acquisition pipelines.

Biggest mortgage servicers at the end of the third quarter
1. Wells Fargo
2. BofA
3. Chase
4. Citigroup
5. USBank

© 2012 Florida Realtors®

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