Wells Fargo Tops Du Page County Lending

by Matt Goyer | 8 Comments

Mortgage Data Web sent us over some interesting numbers on lending activity in Du Page County for January 2009 through July 2009. Note that these numbers include both purchases and re-fi’s:

Rank Lender Name # Mortgages Total $ Amount($000) Market Share Average Mortgage # Fixed # ARMS # Construction
1 Wells Fargo 2,112 $526,848 10.30% $249,455 2,093 19 38
2 JP Morgan Chase 1,462 $323,090 6.32% $220,992 1,211 251 20
3 Win Trust Mortgage 1,040 $281,009 5.49% $270,201 1,035 5 16
4 Bank of America 1,077 $270,043 5.28% $250,736 996 81 34
5 Fifth Third Bancorp 1,102 $249,353 4.87% $226,273 1,088 14 17
6 Countrywide 932 $229,103 4.48% $245,819 909 23 10
7 First Advantage MortgageCORP 786 $196,606 3.84% $250,135 784 2 11
8 Harris Bank 808 $143,328 2.80% $177,386 514 294 8
9 Guaranteed Rate 488 $134,480 2.63% $275,574 480 8 4
10 National City Bank 676 $132,582 2.59% $196,127 668 8 19
**–OTHER–** 11,105 $2,628,796 51.39% $236,722 9,991 1,114 179
Grand Total 21,588 $5,115,238 100.00% $236,948 19,769 1,819 356

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  • evanjacobs

    I would be interested in following a Redfin Twitter account for my neighborhood (and maybe a couple of others) just for general news and trends. However, if I were interested in buying/selling then I would be more interested to see listings that matched a set of criteria (e.g. price, size) across a number of neighborhoods (“horizontal” listings) than all of the listings in a single neighborhood (“vertical” listings).

    This functionality could be achieved by a single Twitter-enabled app where I could set my criteria and receive a DM whenever a new listing matched those criteria.

    • http://blog.redfin.com/ GlennKelman

      Exactly Evan. In many ways, we’d implement the feature as we’ve implemented the RSS capability for saved searches, which allow you to specify any number of criteria. But we wanted to avoid the silly “RSS is dead” debate at all costs.

  • http://twitter.com/RobbiePaplin Robbie Paplin

    RSS is simpler to implement and scales better though. The problem is that RSS is kind of geeky & invisible to the general public.

    If every company created tens of thousands of Twitter accounts doing the same thing, I think we’ll see a lot more fail whales. Twitter has enough problems keeping up with Justin Beiber traffic, let alone something useful.

    • http://blog.redfin.com/ GlennKelman

      Yeah, scale has always been Twitter’s problem Robbie… and user-friendliness has always been the issue with RSS. Have you ever tried to get your Mom to subscribe to RSS feeds? I have….

      • http://twitter.com/RobbiePaplin Robbie Paplin

        Perhaps I’m overly techie & optimistic, but if your smart enough to bookmark a web site, your smart enough to subscribe to an RSS feed. I think it’s more an education & marketing problem than technology problem w/ RSS per se. Kinda like the world wide web before search engines (remember Gopher and Veronica anyone)?

        I think the biggest problems with RSS is that it’s hard to find. There is no well known Google or Bing service for finding new RSS feeds. Which means you can only find feeds for the sites you already know about. We have image search, why not an RSS feed search?

        I think the second biggest problem is that RSS is hard to notice. Browsers support it unevenly. Firefox & IE agreed on common icons (the orange RSS icon) to help drive adoption, but Apple did their own thing (blue RSS text in the address bar). Worse yet, Google Chrome doesn’t support RSS at all (which is odd considering Google Reader is pretty popular). Furthermore, all web browsers are poor for reading a collection of feeds (which Twitter and stand alone applications do rather well).

        Browser vendor attempts to let users subscribe to part of a web page might be easier for end users to understand, if the vendors can agree on an approach. Microsoft IE8 intoduced WebSlices (which require site authors to modify their markup, but works well) and Apple Safari’s has Web Clips (which made the opposite trade off, work everywhere, but it’s breaks easily).

        Maybe somebody needs to write a combined Web Clips / RSS / Twitter client and shrink the distinction between them?

  • Marc

    Problem is its there platform and its hard to get them to change their platform (geared towards individuals vs websites/companies etc). But they could change it. Its probably because there are 7 billion people on the planet and a lot fewer companies or websites so they targeted the biggest audience possible.

    • http://blog.redfin.com/ GlennKelman

      Very good point, but I actually think if Twitter allowed websites to create accounts, there would be more machine-generated accounts than people-created accounts.

  • http://www.theredpin.com Shayan Hamidi

    I like your points Glen and think twitter could be powerful in powering other sites … not sure if you have seen paper.li, I came across it the other day myself, it helps you pull info from your twitter account and those you follow to make a daily newspaper … I have a startup, http://www.TheRedPin.com, and made a daily paper for it, its pretty cool how paper.li takes advantage of twitter to better present the feeds and make something useful out of them for other people http://paper.li/theredpin/real-estate-pulse