2011 Finished on a High Note, Modestly More Room at the Top Despite Wells Breakaway
January 19, 2012
Early indicators suggest that mortgage origination volume was up significantly during the fourth quarter of 2011, but momentum heading into the new year was relatively weak. In earnings reports, eight top lenders have reported solid increases in production levels over the previous quarter, and as a group they posted their best three-month volume of the year. Wells Fargo, U.S. Bank and BB&T reported hefty increases in production during the fourth quarter, with Citi, PHH Mortgage and PNC also putting up big numbers. Chase managed a much smaller increase than its peers, while...(Includes two data charts)