FHA Leading Originators: January 2010 versus prior year

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The table above lists the leading FHA mortgage originators for January 2010. For each mortgagee in this list, the lending volume for January 2009 is included to illustrate the year over year change.

The data shows both Wells Fargo and Bank of America are bigger and have greater market power. Much of the increase for Wells can be attributed to the acquisition of Wachovia and much of the increase for Bank of America are the result of acquiring Countrywide. A similar contribution to increased market share and higher ranking applies to MetLife Bank, who acquired First Horizon's mortgage offices and PNC who acquired National City. Later on we shall see if these bank institutions can maintain their upward momentum. Meanwhile, JP Morgan is not only giving up market share to their competitors, they are giving up FHA originations in an increasing mortgage market segment.

The accomplishments of Quicken, Metrocities, Suntrust, PHH, and Primelending reveal new leaders in the realigned FHA mortgage market.

Bailouts and Social Services

When I applied for handicapped parking I had to go to Nassau County Social Services. You wouldn't believe what I saw there. It was like a candy store for free money, and it doesn't matter whether or not you deserve it (or even need it). Just to make sure that they give away the maximum amount of free money they have digital signs advertising every program imaginable. Here for food stamps? What about aid for paying utilities? Need housekeeping? Help managing your finances? Temporary housing? Medical transportation? Do you know how to give other people's money away? We're looking for people to work here.



I didn't see AIG, Lehman Brothers and Bank America on the line, but I think that's because they have a VIP entrance with valet parking.


I want what AIG got. A TRILLION DOLLARS. Don't forget the food stamps, housecleaning, handicapped parking and special housing. I'm not asking for much. I'm a capitalist, so the government should send me free money just like they do with the other capitalists. Then I can give myself the bonus I deserve.

No wonder people want to come to America. This is truly the land of opportunity. You can earn a billion dollars here. Or, you can lose a billion dollars and the government will give you 2 billion to make up for it (plus housekeeping, food stamps and handicapped parking).


So tell the world that in America the streets are paved with food stamps and entitlement programs. Universities offer programs in giving other people's money away (and the coursework is very easy, too). But lets make sure that we let lots of illegal immigrants in, because someone has to work in order to pay for all this.

Whatever happened to welfare reform? Shouldn't all those executives at AIG be sweeping streets to pay for their welfare? For a trillion dollars we should make them clean up America with a toothbrush.

I have the ultimate idea to support capitalism. The US should insure stock trades. Stocks can go up, but they can never go down. Just imagine what that would do for the stock indexes.

A blog follower sent me the above viewpoint. The author requested that his/her name be withheld.