1st Quarter, 2008 Top 5 Mortgage Lenders

MoneyhousesmallWhile 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

Source: Mortgage Daily

Related posts:
  1. Top 5 Mortgage Lenders By Dollar Volume For 2008
  2. Hispanic Road To Distruction in Home Buying Initiatives By Congress And Lenders
  3. Bank of America To Modify 630,000 Loans in 2009 To Avoid Foreclosures
  4. Citicorp Proactively Attempting to Fix Mortgage Woes
  5. Commercial Mortgage Backed Securities Drop 95 Percent in 2008

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