Industry NewsMortgage

Mortgage lending flat at big TARP banks

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Residential mortgage lending was essentially flat during the fourth quarter at the 20 largest banks that the government has taken a stake in through the Troubled Asset Relief Program, or TARP. The median change in residential mortgage loan balances at the banks was a 1 percent decline, the Treasury Department said in a report this week. Among the 20 largest banks to have received capital infusions, Wells Fargo was the biggest originator of first mortgages, with $48.2 billion in originations for the quarter. Wells Fargo was followed by Bank of America ($44.6 billion), JPMorgan Chase ($28.3 billion), Citigroup ($16.3 billion), U.S. Bancorp ($8.4 billion) and SunTrust ($7.2 billion). The median change in corporate loan balances was a 1 percent decline, while the median percent change in loan balances for U.S. credit cards was an increase of 2 percent, reflecting greater reliance on existing credit lines by consumers, the report said. In commercial real estate, renewals of exis...