close_menu
Latest News

KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market

Real Estate

Quicken overtakes B of A as third largest lender

Remember when online mortgages were a tiny piece of the national loan picture?

Quicken Loans is growing its market share in the mortgage business, having just surpassing Bank of America as the third-largest mortgage lender in the U.S., according to rankings compiled over the last three months of 2012 from the Mortgage Daily.

Quicken Loans had 5 percent of the market share in the fourth quarter, totaling $25.1 billion in originations. Bank of America is now the fourth-largest lender, with 4 percent of the market share and $22.5 billion in mortgage originations during the fourth quarter.

Wells Fargo continues to be the leader in this space with 23 percent of the mortgage market share and $125 billion in origination volume in the fourth quarter. Chase comes in second with 10 percent of the mortgage business and $51.6 billion in volume.

For 2012, overall mortgage originations grew 30 percent, reaching $1.89 trillion.

Hear Real Estate Today on KIRO Radio

  • Hear Real Estate Today on KIRO RadioJoin Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.

Real Estate Photo Galleries

Comments

comments powered by Disqus
close_menu
Latest News