"JPMorgan Chase's origination volume hit $13.7 billion in the first quarter, down 14% from the prior quarter and up 46% from the same period last year. Retail channels drove most of the production, accounting for 63.5% of the total. The bank's home lending revenues reached $1.23 billion in the first quarter, up 2% year over year."
"Wells Fargo originated $6.3 billion from January to March, down 16% from the prior quarter but up 43% compared to the same period last year. Total home loan revenue declined 9% year over year to $787 million, according to filings with the Securities and Exchange Commission (SEC)."
"Mortgage volumes fell by an average of about 15% quarter over quarter at the banks. This came in below the Mortgage Bankers Associations estimate of a 6% decline, according to Keefe, Bruyette and Woods (KBW) analysts."
"In the servicing business, third-party mortgages serviced by Wells Fargo totaled $386.6 billion, down 3% quarter over quarter as the bank continues to reduce exposure to the business. At JPMorgan Chase, they were down 1% in the same period to $656.4 billion."
In Q1 2026, JPMorgan Chase and Wells Fargo experienced declines in mortgage origination volumes, with JPMorgan at $13.7 billion, down 14%, and Wells Fargo at $6.3 billion, down 16%. Both banks reported year-over-year increases, with JPMorgan up 46% and Wells Fargo up 43%. Retail channels contributed significantly to production. Despite lower volumes, gain-on-sale margins increased modestly. Wells Fargo's servicing business saw a 3% decline, while JPMorgan's decreased by 1%. Overall, Wells Fargo reported $5.2 billion in net income, up from $4.8 billion the previous year.
Read at www.housingwire.com
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