Wells Fargo Leads in VA Mortgage Originations

Take a look at the Leading VA Lenders year-to-date through September 2008. Wells Fargo is No.1. Click here to see the other in the Top 5. If you are interested in seeing who else is performing well nationally in the VA market after the Top 5, contact MortgageDataWeb.

Top FHA Lenders through September

We now have available the Top FHA Lenders from January through September 2008. To see the Top 5 click here. Contact MortgageDataWeb if you are interested in a report that goes beyond the Top 5.

FHA Endorsements Slow in September

After many months of increasing monthly endorsements, things slowed a bit in September. There has been significant growth each month rising from just over 60,000 in January to over 140,000 in August. Take a look at the chart below.


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Any guesses on this slowing of activity? Is it a temporary lull or something more sustanined? It is probably to early to tell right now. We will be keeping an eye on this and report again next month.

Median Home Price Data Available Now at Mortgagedataweb

Median home price data is now available at MortgageDataWeb. You can obtain charts of median home prices for metropolitan areas, counties, cities, towns, and zip codes with monthly periodicity. Data is available for most areas from 2003 to the present. Check it out! It is free!

Allied Home Mortgage Losing Market Share

There is an interesting trend developing in the State of Maryland FHA Refi market. The No. 1 lender in terms of market share through August 2008 is Allied Home Mortgage Capital of Houston, Texas. The trend that is developing is that Allied is losing market share. Take a look at the chart below.

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Who is stealing their market share? Any guesses? Is this seasonal or a longer trend?

First Tennessee Growing in Baltimore

There are some areas that mortgages are being originated. Baltimore is one such area. Baltimore is currently #5 in FHA Mortgage Dollar Volume year-to-date through August 2008. Who is a lender taking advantage of this market in Baltimore? First Tennessee Bank is one such lender. Take a look at the chart below to review the growth in their monthly FHA originations.

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TowneBank Fast Riser in Virginia Beach

TowneBank of Virginia Beach, Virginia is rising fast in market share for the Virginia Beach VA market. TowneBank is currently #3 through August 2008. The chart below shows their monthly market share percentage and how it is increasing through 2008.

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The Virginia Beach-Norfolk-Newport News VA market is currently the largest in the country. So Townbank is somebody to keep an eye on.

FHA Jumbos Finance Homes in Fairfax Station, Virginia

Fairfax Station, in Fairfax County Virginia has single family homes with median sale prices approaching $800,000. It is rare to see FHA mortgages used to finance homes in this community. Prior mortgage loan amount limits for FHA mortgages made them useless in Fairfax Station. Things are different now! FHA mortgage loan amount limits are $729,750 for the remainder of this year for homes in Fairfax Station. The chart shows the mortgage lenders originating FHA mortgages on homes in Fairfax Station. Now FHA mortgages are financing home purchases or refinancing existing mortgages in markets where conventional jumbos were the only way to go.

Prosperity Mortgage Leads in DC

Prosperity Mortgage of Fairfax, VA is No. 1 in market share for FHA Correspondent Lending in the DC Metro from January through August 2008. The chart below shows Prosperity's significant month-to-month growth. This is a lender to keep an eye on to see if this increase in market share continues for the remainder of the year.

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Wells Fargo Leads in VA Mortgage Sales in Riverside, CA

Wells Fargo Mortgage leads in sales of VA guaranteed mortgages in Riverside County, California. In Riverside County, their are roughly 30 new conventional mortgages and 5 new FHA mortgages for every new VA mortgage. VA mortgage products and FHA mortgage products are gaining sales rapidly while conventional mortgage sales have been declining. The rapid rise of VA mortgages justifies tracking the leaders in sales of these products.

Bank of America Dominates Riverside Conventional Mortgage Market

Bank of America along with their recent acquisition Countrywide, have a combined market share exceeding 23 percent in Riverside County, California. For conventional mortgages the number of new originations during 2008 has been declining for all lenders in Riverside including Bank of America.. Even with the steady decline in new conventional originations, Bank of America and Countrywide combined have grown their market share during the year making them a dominant force in the market. Bank of America combined with Countrywide has also grown their number of mortgages and market share with FHA mortgages.

Countrywide (BofA) Dominates Riverside County FHA Mortgage Sales

Through their acquisition of Countrywide, Bank of America now dominates the FHA mortgage market in Riverside, California. The new Bank of America entity's market share for FHA mortgages in Riverside exceed 16 percent for the calender year. More recently their market share has approached 24 percent.

Losing Market Share in Prince Georges County

Prince George's County, Maryland is one of the fast rising counties for FHA business this year. Prince George's is currently # 5 through August 2008. Due to this increased volume, the competition has certainly increased. Who is losing market share due to the increased competition? One firm that is losing market share is Univeral Mortgage & Finance. Take a look at the chart below to see their decrease in market share through August 2008.

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Riverside County Leading Cities

Riverside County, California has seen tremendous growth in FHA originations as many areas of the country this year. The chart below shows the monthly FHA originations from January through August 2008.

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A more interesting question is where is this growth taking place within the county? We have a report that shows the "Leading Cities Within A County". Here is a report for Riverside County.

If you are interested in seeing a similar report for other counties, contact MortgageDataWeb.