Toyota to Sell U.S.-Made Camry, Highlander, and Tundra in Japan From 2026 to Ease Trade Tensions 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Elon Musk Wins Reinstatement of Historic Tesla Pay Package After Delaware Supreme Court Ruling 
Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Boeing Seeks FAA Emissions Waiver to Continue 777F Freighter Sales Amid Strong Cargo Demand 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Harris Associates Open to Revised Paramount Skydance Bid for Warner Bros Discovery 
DALLAS, Jan. 09, 2017 -- As the country's mortgage lenders boosted quarterly production, there were some changes among the top-ranked originators and servicers.
U.S. home lenders originated an estimated $568 billion in mortgages during the period that began on Sept. 1, 2016, and concluded on Dec. 31.
Residential loan production climbed from $488 billion in the second quarter. Activity also ascended from $435 billion in the third-quarter 2015.
Included in the estimated third-quarter 2016 total were $245 billion in loans originated by banks, $48 billion in mortgages closed by credit unions and $275 billion in non-bank production.
Origination data by lender was collected from the Mortgage Daily Third Quarter 2016 Mortgage Origination Survey, quarterly earnings reports and company news releases.
Maintaining its position as the No. 1 mortgage lender in the country was Wells Fargo. Bank of America dropped from fourth position in the second quarter to sixth in the latest ranking. Caliber Home Loans climbed from 10th place to eighth, and PHH dropped to No. 10 from No. 8.
| Originations By Lender Q3 2016 | |||
| (billions) | |||
| Wells Fargo | $ | 70 | |
| Chase | $ | 27 | |
| Quicken Loans | $ | 27 | |
| US Bank | $ | 21 | |
| PennyMac | $ | 21 | |
Compared to the second quarter of this year, business at Caliber soared 35 percent -- the biggest quarter-over-quarter gain of any lender tracked by Mortgage Daily. At the other end of the spectrum was First Republic Bank, where activity diminished by 5 percent.
At Finance of America Mortgage, loan originations shot up 94 percent versus the third-quarter 2015 -- the biggest year-over-year increase. A 25 percent drop from a year earlier at Stonegate Mortgage was the worst year-over-year performance.
Wells Fargo also stayed atop the servicer ranking. Quicken climbed to seventh position from ninth in the second quarter, and Ocwen dropped a slot to No. 9.
| Servicing Portfolios By Lender | |||
| as of Sept. 30, 2016 | |||
| (billions) | |||
| Wells Fargo | $ | 1,578 | |
| Chase | $ | 863 | |
| BofA | $ | 593 | |
| Nationstar | $ | 453 | |
| U.S Bank | $ | 305 | |
Full Q3 2016 report (complimentary for reporters):
http://www.MortgageDaily.com/stories/BiggestLenders010917.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
