DALLAS, April 03, 2017 (GLOBE NEWSWIRE) -- 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 $233 billion.
Wells Fargo maintained its position as the country's biggest mortgage lender.
PennyMac climbed to fourth position in the latest quarter from No. 5 in the third quarter, while Bank of America also moved up one spot to No. 5.
The fourth-biggest lender in the third-quarter ranking, US Bank, dropped to No. 6.
Originations By Lender - Q4 2016
|Bank of America||$||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 also kept its title of biggest primary mortgage servicer.
Servicing Portfolios as of Dec. 31, 2016
Full Q4 2016 report (complimentary for reporters):
Quarterly mortgage production by lenders:
Mortgage origination news at:
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