Jan 28 2008
5 Biggest U.S. Mortgage Lenders
DALLAS — (Jan. 28, 2008) Among the five biggest U.S. mortgage lenders last year, three saw their originations fall from the previous year, according to a preliminary analysis of earnings data by http://www.MortgageDaily.com.
Countrywide Financial Corp. maintained its standing as the No. 1 residential lender, with a reported $408.2 billion in residential production during 2007. But the mortgage behemoth saw a decline from 2006, when it reported $462.5 billion in volume.
A pending merger between California-based Countrywide and North Carolina-based Bank of America Corp. will create a company that is likely to originate in the neighborhood of between $425 billion and $475 billion a year — far more than any competitor.