Wow! 4Q Fundings Near $1T

The nation's residential lenders funded close to $1 trillion worth of home loans in the fourth quarter, according to preliminary (but almost final) survey data collected by National Mortgage News and its affiliate, the Quarterly Data Report.If the number holds, it means that mortgage bankers funded a record-breaking -- not to mention stunning -- $2.7 trillion worth of home loans last year. Although NMNis still finalizing its numbers, it appears that more than $941 billion in residential loans were funded in the fourth quarter alone, a record. Three companies -- Wells Fargo, Washington Mutual, and Countrywide -- funded $100 billion or more in the quarter. The top 100 producers funded about $786 billion. (See the Feb. 10 issue of NMN for full details and rankings.)