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The top depository lenders reported double-digit declines in origination and net earnings in Q1 2022 – what does that mean for everybody else?

HW-wells-fargo Wells Fargo

Two of the nation’s largest banks – JPMorgan Chase and Wells Fargo Co. – had their mortgage businesses hit hard by the higher interest rate landscape in the first quarter of 2022.

The financial institutions reported double-digit declines in origination volume and net earnings from January to March, which were partially offset by strong performances in their respective servicing portfolios.

That’s a taste of what to expect from other mortgage lenders who have yet to report Q1 results. 

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