Leading 'Alt A' Originators

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Leading 'Alt A' Originators

Leading 'Alt A' OriginatorsIn the first half of 2007. Dollars in millions.
Published October 12, 2007

Production Year earlier Change Market share
1 IndyMac Bancorp Inc. (E) (1) Pasadena, Calif. $27,803 $29,998 -7.3% 13.34%
2 Countrywide Financial Corp. (E) (1) Calabasas, Calif. 19,610 17,588 11.5 9.41
3 Aurora Loan Services Inc. (2) Colo. 17,468 18,538 -5.8 8.38
4 Washington Mutual Seattle 12,772 NA NA 6.13
5 Morgan Stanley/Saxon Mortgage Glen Allen, Va. 8,905 NA NA 4.27
6 EMC Mortgage (3) Lewisville, Tex. 7,883 30,089 -73.8 3.78
7 Residential Capital LLC (GMAC ResCap) Minneapolis 6,978 17,381 -59.9 3.35
8 Chase Home Finance Iselin, N.J. 6,759 4,577 47.7 3.24
9 GreenPoint Mortgage Funding (CL) Novato, Calif. 5,953 8,374 -28.9 2.86
10 First Magnus Financial Corp. (BK) Tucson 5,805 6,680 -13.1 2.78
11 Wells Fargo Home Mortgage San Francisco 5,522 20,012 -72.4 2.65
12 Wachovia Charlotte 5,347 2,502 113.7 2.56
13 National City Mortgage Miamisburg, Ohio 4,749 4,047 17.3 2.28
14 Ohio Savings/Amtrust Bank Cleveland 3,554 NA NA 1.70
15 Impac Funding Corp. (4) Irvine, Calif. 3,377 4,220 -20.0 1.62
16 MortgageIT (5) New York 3,035 2,665 13.9 1.46
17 American Home Mortgage Investment (BK) Melville, N.Y. 2,930 2,120 38.2 1.41
18 Taylor, Bean and Whitaker Ocala, Fla. 2,870 2,637 8.8 1.38
19 Credit Suisse New York 2,751 4,771 -42.3 1.32
20 First Horizon Home Loans Irving, Tex. 2,468 3,711 -33.5 1.18
21 1st National Bank of Arizona (6) Tempe 2,199 3,071 -28.4 1.05
22 HSBC Mortgage Corp. USA Depew, N.Y. 1,858 1,761 5.5 0.89
23 Luminent Mortgage Corp. (E) San Francisco 1,700 3,065 -44.5 0.82
24 SunTrust Mortgage Inc. Richmond, Va. 1,605 5,355 -70.0 0.77
25 BB&T Corp. Wilson, N.C. 1,519 1,296 17.2 0.73
  Top 25 totals: $165,419 $194,458 -14.9% 78.53%
  Total submitted: $174,202 $202,587 -14.0% 81.98%

Notes: Alt-A loans are non-conforming in nature but have higher FICO scores than subprime loans. At press time the alt-A market was in the throes of a severe correction. (1) IndyMac and CFC have severely curtailed their alt-A production as have several other firms in this ranking. (2) ALS is owned by Lehman Bros. (3) EMC is owned by Bear Stearns. (4) Impac has severely curtailed its alt-A production. (5) MortgageIT is owned by Deutsche Bank. (6) First National recently shut its wholesale and correspondent channels. (BC) Lender is a subprime specialist. (BK) Firm filed bankruptcy protection. (CL) Lender was closed by parent recently but was still funding during the first-half. (HB) Owned by a home builder.
Source: NMN/Mid-year Data Report.

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