Wells Fargo originated twice as many mortgages during the fourth quarter of 2015 as Chase, according to a new report.

Industry publication Mortgage Daily analyzed lending data from federally insured banks, credit unions and nonbank lenders to find that while Chase originated $23 billion loans, Wells Fargo originated $47 billion. Nonbank lender Quicken Loans came in third place with $19 billion in originations.

Rounding out the top 5 were U.S. Bancorp and Bank of America.

Quarterly Originations by Lender

(in billions/includes home-equity lending)

Lender Q4 2015 Q3 2015 Q4 2014
U.S. Total $375 $435 $344
Wells Fargo $47 $55 $44
Chase $23 $30 $24
Quicken Loans $19 $20 $19
U.S. Bancorp $17 $20 $14
Bank of America $17 $17 $15
PennyMac Mortgage Investment Trust $11 $5 $8
PHH Corp. $9 $10 $9
Citigroup $6 $8 $7
Flagstar Bancorp $6 $8 $7
loanDepot $7 $7 n/a

Overall, mortgage originations in the U.S. totaled approximately $375 billion during Q4 2015. That’s down from $435 billion in the previous quarter, but about a third higher than Q4 2014, Mortgage Daily said.

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Nonbank lenders gain more market share

Banks lost 4% of their total mortgage market share year over year, falling from 47% to 43%. Nonbank lenders had a small lead over banks last year with a 48% market share, which is up from 44% in 2014. The credit union share was unchanged at 9%.

Here’s the market share breakdown for the largest lenders, according to Mortgage Daily:

  • Wells Fargo, 12.7%.
  • Chase, 6.3%.
  • Quicken, 4.7%.
  • U.S. Bancorp, 4.2%.
  • Bank of America, 4.2%.
  • PennyMac Mortgage Investment Trust, 2.9%.
  • PHH Corp., 2.4%.
  • Citigroup, 1.8%.
  • Flagstar Bancorp, 1.7%.
  • loanDepot, 1.7%.

Wells Fargo was also found to be the largest mortgage servicer.

Credit unions are another option when looking for a mortgage lender. Here are 3 reasons getting a mortgage from a credit union is a good idea.

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