Real Estate Blog - National Mortgage News: Facts are Facts! Who was the top Mortgage Originator in Quarter 2 of 2007

Home : Blogs : Nima Rezvan First Time Home Buyer Expert CT FHA Loans - FHA 203k - CT Mortgage : Nima Rezvan First Time Home Buyer Expert's Blog

National Mortgage News: Facts are Facts! Who was the top Mortgage Originator in Quarter 2 of 2007

Dear Reader,

The facts are in so please take a look at the top 10 mortgage originators of quarter 2 of 2007. You be the judge here. Who is at the top of the list? Who is growing market share? Who is almost more than 2x better than the #2 mortgage lender on the list? You be the judge. Just simply sharing the facts here.

Top Originators in Q2 2007

(Dollars in Millions)

RANK COMPANY Origination Volume Q2 2007 Q2 2006

1 Countrywide Financial $130,163 $118,509

2 Wells Fargo Home Mtg. $79,957 $110,040

3 CitiMortgage, Inc. $61,252 $48,330

4 Chase Home Finance $59,561 $45,743

5 Bank of America $51,918 $44,702

6 Washington Mutual $42,514 $52,592

7 Wachovia $28,440 $31,003

8 IndyMac Bancorp, Inc. $22,505 $20,060

9 GMAC ResCap $22,263 $28,266

10 SunTrust Mortgage, Inc. $18,261 $15,331

_________________________________________________________________________________

The above data was found on http://www.nationalmortgagenews.com/

You may use this data in your blogs and newsletters. You can also copy and print this blog and share with all of your friends and colleagues.

Your Active Rain Mortgage Professional,

Nima Rezvan

Home Loan Consultant

203.913.6016

http://www.mynima.com/

Available 7 days a week until 10pm for all of your home financing needs!

Posted by Nima Rezvan First Time Home Buyer Expert CT FHA Loans - FHA 203k - CT Mortgage on 09/25/2007 05:43 AM

Comments (7)

countrywide financial, wells fargo home mortgage, mtg, citimortgage, chase home finance, bank of america, washington mutual, wachovia, indymac, gmac

This post has been included in Connecticut Information Fairfield County, CT Information Stamford, CT Information
Post is included in group: True Mortgage Professionals
Post is included in group: Realtors®
Post is included in group: Mortgages
Post is included in group: Connecticut Club
Post is included in group: All About Mortgages/Mortgage Networking

7 Comments on National Mortgage News: Facts are Facts! Who was the top Mortgage Originator in Quarter 2 of 2007

SEP

2007

I was wondering what was the point and then I saw your affiliation. The top ten bad loan origonators would be more interesting to see

I understand your post now that I see you work for Countrywide Retail side. I broker deals through them on the Wholesale side. I know they are trying everything they can I wish them the best of luck.

Charlie Ragonesi: Thanks for your comment. Not sure if anyone keeps those records but it would be interesting to see who is the bottom 10 for sure.

Matthew Blum: Thanks for dropping by today. If I am not mistaking, Countrywide is also ranking #1 as far as wholesale is considered. I've always been on the retail side so I really do not touch the wholesale side.

Viva La Countrywide! People have to live in covered dwellings...as long as it is so... there will be realtors and lenders.

Best wishes!

SEP

2007

Nima, been a while since we visited... for no good reason other than being busy... and thought we'd drop by. Slowly, it seems, and it also seems somewhat surely we're all getting through this. It's really slow up here, and our key mortgage relationships are seeing some of the crunch. Glad you are well, and thanks for the info here.

OCT

2007

It will be interesting what the 3rd and 4th quarter numbers look like? The key thing to remember is:

Which of the lenders noted above are actually profitable?
Market share for the sheer case of market share does not equate to prudent business practices.
The close of the 2nd quarter was before the $hit hit the fan for Countrywide
A large percentage of that loan volume came via wholesale and corespondent channels. Again before CFC contracted on the wholesale side.
A large percentage of 1st and 2nd quarter volume is with products (2/28's. option ARM's, etc...) no longer on CFC product menu.
Before CFC layed of 10,000 operations employees.
Before CFC layed off 4500 loan originators this week.
Before 11 states (and more forthcoming) files suit against CFC and officers for non-disclosure on behalf of employees pension funds.
CFC foreclosure rates substantially higher than industry average (announced this week).

Smoke and mirror tactics will only work for a little while...reality eventually prevails.

APR

2008

Is this Terry Brown from 24 Hour Fitness who made this last comment? If so call me so we can catch up.

Regi Allison

This blog does not allow anonymous comments