Wells Fargo and JP Morgan Chase Duke it Out | Chappaqua Real Estate

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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%.


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