Biggest Mortgage Originators and Servicers for Q3 2015

Mortgage firms saw quarterly volume slow as nonbanks continued to take market share from banks

By Jeff Sorg, OnlineEd Blog

bank buliding sign(January 13, 2016) –  Lenders generated an estimated $430 billion in mortgage originations during the third-quarter 2015 as mortgage firms saw quarterly volume slow as nonbanks continued to take market share from banks. One bank, however, grew its market share.

Banks were responsible for around $190 billion of third-quarter 2015 production, while another $40 billion was generated by credit unions, and the remaining $200 billion came from nonbanks. As shown in the following table, nonbank originators continued to gain market share at the expense of banks.

Mortgage Market Share

Lender Type

Q3 2015

Q2 2015

Q3 2014

Banks

44%

45%

46%

Credit Unions

9%

9%

9%

Non-Banks

47%

45%

45%

Based on an analysis of data collected for the Mortgage Daily Third Quarter 2015 Mortgage Origination Survey, quarterly earnings data and news releases, the biggest mortgage lender again was Wells Fargo while US Bank grabbed the No. 3 spot from Quicken Loans.

Originations By Lender
(billions/includes home-equity lending)

Lender

Q3 2015

Q2 2015

Q3 2014

Wells Fargo

$55

$62

$48

Chase

$30

$29

$22

US Bank

$20

$19

$15

Quicken

$20

$21

$16

Bank of America

$17

$19

$15

A 46 percent quarter-over-quarter gain at Movement Mortgage was the biggest. At Impac Mortgage, lending accelerated by 149 percent from a year earlier — the largest year-over-year improvement.

Wells Fargo’s market share exceeded that of the next two-biggest lenders combined.

Market Share By Lender Q3 2015

Lender

Share

Wells Fargo

13%

Chase

7%

US Bank

5%

Quicken

5%

BofA

4%

Wells Fargo also maintained its No. 1 servicer ranking and US Bank moved from the sixth position in the second quarter to the fifth.

Servicing Portfolios
as of Sept. 30, 2015
(billions)

Wells Fargo

$1,669

Chase

$929

BofA

$580

Nationstar Mortgage

$408

US Bank

$298

Full Q3 2015 report (complimentary for reporters): http://www.MortgageDaily.com/stories/BiggestLenders011116.asp?spcode=pr

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

[Source: Media Release by Mortgage Daily]

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About Jeff Sorg

Jeff Sorg is a co-founder of OnlineEd®, an online real estate, mortgage broker, and vocational school founded in 1997, where he also serves as Chief Executive Officer, and School Director. Sorg holds vocational and post-secondary school instructor licenses in several states and has authored numerous real estate continuing education and pre-licensing courses and has been awarded the International Distance Education Certification Center's CDEi Designation for distance education. Memberships include ARELLO (Association of Real Estate License Law Officials), the National Association of REALTORS®, Oregon Association of REALTORS®, and Portland Metro Association of REALTORS®. Awards and service include REALTOR® Emeritus in the National Association, Life Member award in Portland Metro Association and Chairperson of the Oregon Real Estate Forms Committee. OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.