Mortgages Blog

Finance Blogs » Mortgages Blog » 2015’s largest mortgage lenders

2015’s largest mortgage lenders

By Crissinda Ponder ·
Monday, April 4, 2016
Posted: 12 pm ET

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.

RATE SEARCH: Ready to shop for a mortgage? Find the best deal today.

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.

Follow me on Twitter @CrissiPonder.

Bankrate wants to hear from you and encourages comments. We ask that you stay on topic, respect other people's opinions, and avoid profanity, offensive statements, and illegal content. Please keep in mind that we reserve the right to (but are not obligated to) edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.

By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.
Rodrick bellamy
May 23, 2016 at 8:02 am

Send me every thing on the but out on housing g