$16B Michigan Data Center Project Boosts U.S. AI Infrastructure Expansion 
PLS Reports Record Lithium Output as EV Demand Fuels Market Growth 
European Car Sales Surge in March as EV and Hybrid Demand Accelerates 
Judge Dismisses Elon Musk’s Fraud Claims Against OpenAI, Trial to Proceed on Remaining Allegations 
Mercedes-Benz Faces Rising Competition in China but Rejects Price War Strategy 
Microsoft Commits $18 Billion to Expand AI and Cloud Infrastructure in Australia 
Florida Investigates OpenAI and ChatGPT Over Alleged Role in FSU Shooting 
Brazil Blocks Prediction Market Platforms, Tightens Derivatives Trading Rules 
SK Hynix to Invest $13 Billion in AI Chip Packaging Facility 
SK Hynix Reports Record Q1 Profit Surge Driven by AI Memory Chip Demand 
Samsung Boosts DRAM Supply to Tesla as AI-Driven Memory Demand Surges 
LG Innotek Stock Hits Record High on $68M Automotive Wi-Fi 7 Deal 
Florida Launches Criminal Probe Into OpenAI Over FSU Shooting Incident 
U.S. Raises Alarm Over Chinese AI Firms’ Alleged IP Theft Through Model Distillation 
Organon Stock Surges After Reports of $13 Billion Buyout Bid by Sun Pharma 
DeepSeek Launches V4 AI Models with Enhanced Reasoning and 1M Token Context Window 
Amazon Stock Rises as Meta Expands AWS Partnership for AI Infrastructure 
DALLAS, April 03, 2017 -- Although quarterly mortgage originations dipped from the previous period, there was an increase in annual volume. There was some jockeying for position among the nation's 10-largest lenders.
U.S. home lenders originated an estimated $517 billion during the final-three months of 2016, according to data collected for the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
Mortgage production declined from the previous three-month period, when $568 billion in residential loans were closed. But activity accelerated from $375 billion in the final quarter of 2015.
Banks were responsible for $236 billion of fourth-quarter 2016 originations, while credit unions generated $48 billion and non-banks accounted for $233 billion.
Wells Fargo maintained its position as the country's biggest mortgage lender.
PennyMac climbed to fourth position in the latest quarter from No. 5 in the third quarter, while Bank of America also moved up one spot to No. 5.
The fourth-biggest lender in the third-quarter ranking, US Bank, dropped to No. 6.
Originations By Lender - Q4 2016
| Wells Fargo | $ | 72 | |
| Chase | $ | 34 | |
| Quicken Loans | $ | 27 | |
| PennyMac | $ | 22 | |
| Bank of America | $ | 22 | |
For all of 2016, the nation's mortgage bankers generated $1.927 trillion in mortgage production -- including $846 billion at banks, $173 billion at credit unions and $909 billion at non-banks.
The overall total jumped from $1.683 billion in 2015.
Wells Fargo had the most originations last year, while BofA bumped U.S. Bank from the No. 4 spot.
Originations By Lender -- 2016
| Wells Fargo | $ | 249 | |
| Chase | $ | 117 | |
| Quicken | $ | 96 | |
| BofA | $ | 79 | |
| US Bank | $ | 79 | |
Wells Fargo also kept its title of biggest primary mortgage servicer.
Servicing Portfolios as of Dec. 31, 2016
| Wells Fargo | $ | 1,552 | |
| Chase | $ | 847 | |
| BofA | $ | 565 | |
| Nationstar Mortgage | $ | 484 | |
| US Bank | $ | 306 | |
Full Q4 2016 report (complimentary for reporters):
http://www.MortgageDaily.com/stories/BiggestLenders040317.asp?spcode=pr
Quarterly mortgage production by lenders:
http://www.mortgagedaily.com/FundingsConforming.asp?spcode=pr
Mortgage origination news at:
http://www.mortgagedaily.com/Fundings.asp?spcode=pr
About Mortgage Daily
Founded in 1998 by 20-year mortgage industry veteran Sam Garcia, Mortgage Daily is a leading online source of mortgage news and mortgage statistics for the mortgage industry. Visit Mortgage Daily at www.MortgageDaily.com.
CONTACT: [email protected] 214.521.1300
