America Corp. topped a new ranking in mortgage lending to minority members and borrowers in low- and moderate-income neighborhoods.

The ranking, by PCi Services Inc. of Boston, based its conclusions on 1998 Home Mortgage Disclosure Act data for the United States and Puerto Rico.

Norwest Mortgage, a unit of Wells Fargo & Co., led the industry in mortgages to minorities and borrowers in low- and moderate-income neighborhoods, according to PCi, with $4.5 billion in loans, for a 5.6% market share. Countrywide was the second-largest lender to minorities with $4.1 billion in originations, followed by $4 billion by Bank of America.

Countrywide led the industry in lending to low- and moderate-income borrowers with $5.4 billion of originations, or 6.1% of total originations. Norwest made $4.7 billion of loans to low- and moderate-income borrowers, and Bank of America made $3.6 billion.

-- Joshua Brockman

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