The 2007 HMDA data was released last Thursday. MortgageDataWeb has already published market share reports for all areas of the nation.
When we look at the list of the top 100 hundred conventional mortgage lenders, it has so many mortgage institutions that are on the "Mortgage Implode" web site.
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Here we are publishing the top 10 conventional mortgage lenders for 2007 and 2006. You can contact MortgageDataWeb.com to order the top 100.
Some findings are that in 2007, there were roughly 3.4 million fewer conventional purchase and refinance mortgages as compared with 2006.
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The conventional purchase and refinance origination dollar volume declined from $2.37 trillion in 2006 to $1.82 trillion in 2007.
One interesting mortgage company gainer in 2007 (if you want to call then a gainer) was Indymac Bank. Indymac moved from 11th position in 2006 to 9th place in 2007. Indymac increased their market share from 1.52% to 2.11% in 2007 and Indymac increased their mortgage origination volume from $36 billion to $38.54 billion. Lottagooditdidum!
Bank of America did really well in 2007 without having Countrywide on their team. Bank of America's mortgage originations grew by $20 billion in 2007 over 2006. Bank of America's market share increased from 3.38% to 5.38%. Assume that Countrywide and Bank of America maintain the same market share in 2008 as they have had in 2007, then the addition of Countrywide to Bank of America will result in a mortgage market share exceeding 15%.
I'll make a prediction that Bank of America will exceed 20% market share (1 of every 5 dollars of new mortgages) going forward in 2009. You can make your predictions here and we will report the results.