Wells Fargo & Co. originated $20.8 billion of FHA-backed mortgages in the first quarter, ranking first nationwide, according to new survey figures compiled by National Mortgage News.
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Bank of America ranked second with $16 billion. However, B of A's volume is an estimate made by NMN. (The firm declined to provide a figure even though it is one of the largest GNMA issuers in the nation.)
Chase ranked third with $2.25 billion in FHA production with Franklin American Mortgage of Tennessee, a close fourth with $2.23 billion.
In the first quarter, FHA production fell 18% compared to the same period a year ago.
FHA/VA lending continues to account for about 25% to 30% of all loans produced in the U.S.
