Ask a banker: Are big banks getting out of residential mortgage lending?


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We hear that big banks are getting out of residential mortgage lending. Is that true?


Well, they’re not getting out, but they sure are pulling back. For example, in 2012, Wells-Fargo, the nation’s top mortgage lender, funded 125 billion in mortgages in the fourth quarter. In the same period for 2015, volume was down to 47.5 billion. J.P. Morgan-Chase saw a similar decline: 51.2 billion in the last quarter of 2012, and only 22.5 billion for 2015’s final quarter.

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