1st Quarter, 2008 Top 5 Mortgage Lenders
While mortgage lending is down 22 percent from the 1st 2007, it did rise 3 percent over the preceding quarter. The top lenders include embattled Countrywide Financial who is still expected to be acquired by the 4th largest lender, Bank of America.
It is interesting to see that the banks are now taking a leadership role in mortgage lending as the mortgage brokers have come undone in the credit crunch they created. IndyMac and Washington Mutual were down over 60 percent from last year while Residential Capital was down 40 percent.
Company Q1 2008 Originations
Countrywide $73.0 billion
Wells Fargo $66.0 billion
JPMorgan $53.8 billion
Bank of America $38.6 billion
Citigroup $34.3 billion
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What about RE/MAX Commercial? Where this classification came from?
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