Wells Fargo Largest Mortgage Lender in 3Q

November 8 2010 (Shirley Allen)

Wells Fargo & Co, with more than $100 billion in residential loan originations, was the largest originator of home loans in the United States in the third quarter of 2010.

Mortgage originations represent transactions where the purchase of a home is financed or an existing mortgage is refinanced. In either case, the borrower — who is the consumer in the transaction — must attend a loan closing and sign a myriad of loan documents.

During the third quarter, U.S. mortgage originations were up one-third from the second quarter, but were down 37 percent from the third-quarter 2009.

Here’s a listing of the top ten residential mortgage loan originators in the United States for the third quarter 2010:

Rank Q3 Q2
1 Wells Wells
2 BofA BofA
3 Chase Chase
4 GMAC GMAC
5 Citigroup Citigroup
6 US Bank US Bank
7 PHH PHH
8 Quicken SunTrust
9 SunTrust Flagstar
10 Flagstar Quicken & MetLife

Tags: mortgage lender, mortgage originator, mortgage, loan closing, mortgage originations, wells fargo, residential mortgage loan, mortgage loan