Top 5 Mortgage Lenders By Dollar Volume For 2008
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Wells Fargo was the top lender in 2008 by nearly 45 billion dollars over the 2nd place lender, J.P. Morgan Chase & Co.
What jumped out at me is that originations were down 36 percent in 2008 compared to 2007’s lending.
Here is another stat, Countrywide was swallowed up by Bank of America in July, yet in 6 months Countrywide lent out 132 billion dollars, yet BOA only did 181 for the year? Countrywide knew that Bank of America was buying them yet they still lent money like a drunk after winning the lottery right up until the papers were signed.
I am sure the top guys at Bank of America must be annoyed cleaning up that mess.
Top 5 Mortgage Lenders in 2008
- Wells Fargo & Co. (WFC) $230.0 Billion
- J.P. Morgan Chase & Co. (JPM) $185.3 Billion
- Bank of America (BAC) $181.0 Billion
- Countrywide $132.0 Billion
- Citigroup Inc. (C) $104.3 Billion
via PR Newswire If you have a subscription to Mortgage Daily, the full list is here.
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