Wells Fargo, the second-biggest mortgage lender in the nation, continued to cede market share to nonbank rivals in the fourth quarter of 2020.

The lender originated $53.94 billion in the fourth quarter, a 12.5% decline from the prior quarter, when the bank originated $61.6 billion in mortgages. It also represents a not-insignificant decline from the $59.8 billion the San Francisco-based bank originated in the fourth quarter of 2019.

According to the earnings statement, Wells Fargo dropped slightly in its retail originations, to $32.2 billion. Its correspondent business fell to $21.6 billion in details ⇒

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