Wells Fargo’s Market Share of U.S. Mortgages Tops 33%
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Wells Fargo & Co., already the largest U.S. home lender, widened its lead in the first quarter by originating a third of all residential mortgages in the nation as some of its biggest rivals retreated.
Wells Fargo controlled 33.9 percent of the U.S. mortgage market in the three months ended March, more than three times the share for No. 2-ranked JPMorgan Chase & Co., according to Inside Mortgage Finance, an industry publication based in Bethesda, Maryland. The first quarter’s market share expanded from 30.1 percent in the fourth quarter, which was already the highest ever posted by a single company, according to Guy Cecala, publisher of IMF.