Bank of America Mortgage Delinquencies

Bank of America has roughly 11% of its mortgages 30 days past due or worse. That's ticking up a little bit from recent quarters, according to this chart shown at the company's presentation during the most recent Barclays Conference.

Wells Fargo's Mortgage Delinquency Rates and Foreclosures are Better than Average and Better than Bank of America

Wells Fargo Chairman and CEO John Stumpf recently presented at the Morgan Stanley investors conference. One of the more interesting charts he talked about was on slide #21 in which he shows the Deliquency rate and foreclosure rate of his bank versus his peers during the third quarter of 2010. Specifically:

• Wells Fargo - 6.1% Delinquent + 2.1% in foreclosure
• Citibank - 6.9% Delinquent and 2.6% of mortgages in foreclosure.
• JP Morgan Chase came in at 7.8% and 3.7% respectively
• Bank of America was the laggard of the bunch (Thanks to their countrywide acquisition) with a whopping 3.7% of loans in foreclosure and 10.6% seriously deliquent..
• You can click on the chart above for larger view of the data that Mr. Stumpf presented.

The CEO also showed a comparison during fiscal year 2010 for the charge-offs as a percentage of all loans for Wells Fargo and its peers. Citi took the most in charge-offs on debt (4.6%), followed by Bank of America (3.6%), JPM (3.4%), Wells (2.3%) and US Bank had the best performance with just 2.2% charged off.

Interestingly enough over the last 10 years, Citi was the worst and US Bank was the best.

Q3-2008 vs Q3-2007 Alt-A Mortgage Originators

Q3-2008 (vs. Q3-2007) saw an even bigger decline in Alt-A mortgage originations than the Q2-08 vs. Q2-07 data point. The Top-10 Alt-A companies underwrote $1.55 Billion in Alt-A mortgages in Q3-2008, which is an 88% decline from the $13.2Billion of business done in Q3-2007.

Again, ResCap (GMAC) and Chase were the biggest drivers of the decline--Down $4.7Billion and $2.4Billion respectively.

Top-10 Alt-A Mortgage Originators Q2-2008 vs Q2-2007

The Top-10 Alt-A mortgage originators in Q2-2008 did 81% fewer Alt-A mortgages in Q2-2008 vs. Q2-2007, as Alt-A mortgages in Q2-2008 amounted to $2.6 billion vs $13.6 billion from those same companies in the prior year; with the biggest cut-backs coming from Chase and ResCap (GMAC) Mortgage.

Q3 2008 Top 10 Mortgage Originators

The Top-10 mortgage originators in Q3-2008 originated $230 billion of mortgages in Q3-2008, which is 29% less than the $323 billion of business that they did in Q3-2007.

It's also interesting to note that Bank of America's increase in business was driven by their acquisition of Countrywide Mortgage. In the quarter, Washington Mutual (WaMu) had the distinction of having the largest drop in business--on both dollar terms ($24 billion less) and percentage decrease (down 71%).

Top 10 Mortgage Providers Originate much fewer loans in Q2-2008 vs Q2-2007

Comparing Q2-2008 Mortgage origination figures with Q2-2007, you can see that there was a significant decrease in mortgages underwritten.The top-10 Mortgage originators did $320 billion in originations in Q2-2008 compared to $507 billion, from those same companies in Q2-2007. In dollar terms Countrywide shrunk from $130 billion to $59 billion; While Washington Mutual (WaMu) saw the biggest percent decline--Down 74%.