Mortgage businesses at Wells Fargo, JPMorgan Chase and Bank of America are now only a fraction of what they were in 2022. As a group, the trio originated about $80 billion in mortgages in 2023, down from nearly $218 billion the prior year – a $138 billion decline (63%). 

The downsized volume reflects two equally important factors: a housing market characterized by limited inventory, high mortgage rates and reduced demand, but also the banks taking themselves off the board for some residential mortgages.

On Friday, the big banks opened details ⇒

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