New Mortgage Originations Slow in Early 2013 As Wells Fargo Continued to Decelerate
April 25, 2013
Nationwide, mortgage originations fell by 4.8 percent during the first quarter of 2013, but a lot of that decline took place at the industrys biggest lender, Wells Fargo, according to a new market analysis and ranking by Inside Mortgage Finance. Mortgage originations totaled an estimated $500.0 billion during the first three months of the year, down from $525.0 billion during the fourth quarter of 2012. It still ranked as the fourth strongest quarter in new loan production since the mortgage market tanked back in 2008, and originations in early 2013 were up 19.0 percent from the same period last year. But most of the indicators are...[Includes two data charts]