Top 'Alt-A' Lenders

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Top 'Alt-A' Lenders

Top 'Alt-A' LendersIn the first half of 2008. Dollars in millions.
Published October 20, 2008

Rank   Volume Year earlier Change Market Share
1 HSBC Mortgage Corp. USA, Depew, N.Y. $1,149 $1,858 -38.2% 16.4%
2 Flagstar Bank, FSB, Troy, Mich. 935 2,106 -55.6% 13.4%
3 Residential Capital, LLC (GMAC), Minneapolis 909 6,978 -87.0% 13.0%
4 Chase, Iselin, N.J. 786 6,759 -88.4% 11.2%
5 BB&T Corp., Wilson, N.C. 712 1,519 -53.1% 10.2%
6 AmTrust Bank, Cleveland 390 3,554 -89.0% 5.6%
7 Bank of America (1), Charlotte 256 513 -50.1% 3.7%
8 First Horizon Home Loans, Irving, Tex. 194 2,468 -92.1% 2.8%
9 Fifth Third Mortgage, Cincinnati 147 573 -74.3% 2.1%
10 Aurora Loan Services, Inc. (2), Aurora, Colo. 128 17,468 -99.3% 1.8%
Top 10 totals: $5,606 $43,795 -87.2% 80.1%
Submitted totals: $5,852 $64,868 -91.0% 83.6%

Notes: Alt-A loans are non-conforming in nature but have higher FICO scores than subprime. Some lenders include 'stated-income' loans in this category. Countrywide and IndyMac — that latter of which is now controlled by the FDIC — stopped disclosing their alt-A volumes last year. It's believed that both these institutions no longer fund alt-A. (1) Bank of America bought Countrywide on July 1. CFC would not disclose its 2Q alt-A production. (2) ALS is owned by Lehman Brothers which is in bankruptcy.

Source: NMN/Mid-Year Data Report (MDR).

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