Countrywide held on to the number one lender spot in 2007, in spite of growing industry turbulence and a historic mortgage crisis that is continuing unchecked to start 2008. MortgageDaily.com, a paid-subscription site focusing primarily on the primary mortgage market, reported Monday that Countrywide originated $408.2 billion during 2007, with second-place Wells Fargo trailing at $272.0 in total loan production for the year. Countrywide’s annual production dropped sharply in 2007, however, falling nearly 12 percent from 2006’s total of $462.5 billion. Citigroup Inc., with $151.9 billion in reported originations last year, bumped Washington Mutual Inc. from the No. 5 spot — something tells me a dropoff in option ARM originations had something to do with that. Citi, along with JPMorgan Chase & Co. and Bank of America, actually saw an increase in residential volume from 2006, reflecting the mortgage market’s shift towards retail bank originations.
