Mortgage bankers originated just $333 billion in one- to four family loans in the third quarter, the industry's worst showing since the fourth quarter of 2000, according to exclusive survey figures compiled by National Mortgage News and the Quarterly Data Report. Compared to the same quarter a year ago, originations plunged 45%. Among the nation's top ten lenders, the companies with the steepest origination declines include Washington Mutual (-70%), Wachovia Mortgage (-64%), and CitiMortgage (-46%). WaMu failed and was sold to JPMorgan Chase at the end of September. Wachovia is in the process of being sold to Wells Fargo Bank. CitiMortgage's parent, Citigroup, is considering putting itself up for sale.
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