According to a survey just released by the Treasury Department, mortgage loanorigination volume jumped in January among some of the largest banking institutions that have received and are receiving TARP Funds (Troubled Asset Relief Program).

The survey, which covered the top 21 recipients of government investment via the Capital Purchase Program (CPP), found consumer lending originations increased at most institutions between December and January.

"Mortgage origination volume rose significantly in January 2009 reflecting a strong, sustained demand to refinance mortgages, which continues to be driven by lower interest rates," the Treasury said in the release.

"The median percent change in mortgage refinancing was an increase of 110 percent from the December 2008 to January 2009."

Among the leaders were: Wells Fargo, which led the way with $24 billion in first mortgage originations, Bank of America with $22.9 billion and Chase with $9.6 billion.  I will note here that the numbers just listed contain both wholesale and retail originations.

Following the leaders were: Citigroup with $7.8 billion, U.S. Bancorp with $4 billion and SunTrust with $3.5 billion.

Home Equity Line of Credit (HELOC) lending was still existent, but showed minimum numbers.  Bank of America led with $1.4 billion, followed by Citigroup with $769 million and Wells with $597 million.