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Top 10 Mortgage Lenders

Discussion in 'Mortgage Lenders' started by Moe, Jul 19, 2010.

  1. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    Over the last 3 years, many banks have went out of business or have went into bankruptcy. Now, more than ever, borrowers need a list of current resources that are available.

    Here are the top 10 mortgage lenders in today's 2010 market:

    1. Wells Fargo Mortgage – $77 billion (-25%) 23.90% market share
    2. Bank of America – $71.5 billion (-20%) 22.19% market share
    3. Chase – $32.8 billion (-16%) 10.16% market share
    4. Ally Bank/ResCap (GMAC) – $13 billion (-2%) 4.02% market share
    5. CitiMortgage, Inc. – $11 billion (-55%) 3.43% market share
    6. U.S. Bank Home Mortgage – $9 billion (-33%) 2.78% market share
    7. PHH Mortgage – $7.8 billion (-12%) 2.43% market share
    8. SunTrust Bank – $5.6 billion (-58%) 1.75% market share
    9. Provident Funding Associates – $5.3 billion (-52%) 1.65% market share
    10. Branch Banking & Trust Company – $5.2 billion (-33%) 1.60% market share

    Wells Fargo saw its residential business jump 83 percent, to put it in first place for residential home loans in 2009. It was also the top residential lender in 2008, according to MortgageDaily.com.

    Bank of America saw its residential home loan business jump 116 percent, presumably because of the acquisition of Countrywide Financial’s offices, including loan officers with their fat “black books.†It passed JP Morgan Chase to claim the title of the second biggest residential lender.


    JP Morgan Chaseand Citigroup saw its share of residential home loans fall. Citigroup had plenty of other issues to deal with, including the near meltdown of their core business and dealing with Uncle Sam as a significant owner of the company.


    2009 GRAPH:
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    Here were the Top subprime mortgage lenders in 2007

    Rank Lender Location Q4 2006 originations, in billions

    1 HSBC Finance (HSBC) Prospect Heights, IL $12.3
    2 New Century Financial Irvine, CA $12.2
    3 Countrywide Financial Calabasas, CA $10.1
    4 WMC Mortgage (GE) Burbank, CA $9.0
    5 First Franklin (Merrill Lynch) San Jose, CA $7.8
    6 Wells Fargo Home Mortgage San Francisco, CA $7.4
    7 Option One (H&R Block) Irvine, CA $6.1
    8 Fremont Investment & Loan* Santa Monica, CA $6.0
    9 Washington Mutual* Seattle, WA $5.7
    10 CitiFinancial (Citigroup)* Baltimore, MD $5.0

    SOURCES:

    Top 10 subprime originators slanted toward West Coast - MarketWatch

    National Mortgage News

    MortgageStats

  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Please feel free to contact us at (800) 841-5494 or fill out the brief form here and we’ll strive to help you get a loan as quick and easy as possible! NOTE: We do NOT work directly with any of the lending institutions listed above. Rates will depend on your financial situation – credit rating, down payment, loan amount as well as property type will all be contributing factors.

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