Wells Fargo and Chase traded positions as the industry leader in originations as new purchase mortgage originations edged up in the second quarter.
Wells Fargo maintained its standing as the biggest residential lender in the country. A distant second was JPMorgan Chase, while Bank of America regained its No. 3 ranking after falling behind Quicken Loans in the first quarter.
However, initial indications are that the current quarter’s production is on track for a decline according to Mortgage Daily.
Home loans funded by U.S. lenders totaled an estimated $502billion during the second quarter, according to Mortgage Daily’s Mortgage Lender Ranking. The estimate was based on earnings data, publicly disclosed statistics and a quarterly survey conducted by the trade publication.
Overall activity increased around 2% from the first quarter. Compared to the second-quarter 2012, production has risen more than 8%.
| Q2 2013 Originations | ||
Rank | Lender | Volume ($ billions) |
| Total. | U.S. (est.) | $502.0 |
| 1. | Wells Fargo | $112.0 |
| 2. | Chase | $49.5 |
| 3. | BofA | $26.8 |
| 4. | Quicken | $23.8 |
| 5. | U.S. Bank | $19.1 |
Walter Mortgage soared to $4.7 billion from the first quarter’s $0.4 billion – the biggest percentage gain of all lenders tracked.
Production at Nationstar Mortgage more than doubled from the first quarter — the second-best quarter-over-quarter performance of any top lender.
The biggest quarter-over-quarter loss was suffered by Ocwen Financial.
Nationstar’s business nearly quadrupled from the second-quarter 2012, the best year-over-year improvement.
With a 250% increase, Stonegate Mortgage delivered the second-largest increase from the year-earlier period.
United Shore followed with a 156% ascension, then 154% at PennyMac.
Based on the Mortgage Market Index from LoanSifter and Mortgage Daily, third-quarter originations from all lenders are likely to decline by around 22%.
Wells Fargo held on to its top-servicer standing, and BofA relinquished its No. 2 rank to Chase.
| Biggest Servicers as of June 30 | ||
Rank | Servicer | Portfolio Size ($ trillions) |
| 1. | Wells Fargo | $1.9 |
| 2. | Chase | $1.0 |
| 3. | BofA | $1.0 |
| 4. | Ocwen | $0.4 |
| 5. | Citigroup | $0.4 |
read more…..
http://www.realestateeconomywatch.com/2013/08/wells-and-chase-duke-it-out/





On August 1, an adorable black and white rabbit was left abandoned in a cage by the basement door of Teatown. Sadly, after examination, it was determined that the bunny suffered a traumatic leg break sometime in the past that did not receive any care and healed improperly. This sobering case reminds all of us to think carefully about the responsibility of caring for a pet.
engers are an important part of nature’s clean-up crew. Come meet a couple of Teatown’s animal scavengers.
Enjoy a guided tour of Wildflower Island, Teatown’s unique two-acre sanctuary that is home to over 230 species of wildflowers and shrubs native to our area.
Another year of Teatown camp has drawn to a close. It’s been a wonderful summer and our campers learned a great deal about the world around them. From setting camera traps to making art from weeds and thorns to exploring new trails and getting an up-close view at native animals, it’s been an adventure and dis
covery-filled summer.



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