Union Bank #1 in Average Loan Size

Union Bank ranked first among all residential lenders in terms of average loan size in the second quarter — $965,197, according to figures compiled by National Mortgage News and the Quarterly Data Report. The bank's average loan size rose 7% over the past 12 months. Union is headquartered in San Francisco, one of the more expensive metropolitan areas in the nation. However, most firms on the list saw their average loan size fall during the second quarter. First Republic Bank of San Francisco, ranked second, with an average loan size of $801,582, a 24% decline from the same period last year. Thanks to the credit crisis, the secondary market for jumbo loans has essentially dried up and many originators are keeping these non-GSE mortgages on their balance sheets.