Roxana Baiceanu 
Who finances your home mortgage loan? If it’s Wells Fargo Bank, learn that you’re with the biggest home lender in NYC, PropertyShark data provided exclusively for Crain’s New York indicates*.
From January 2012 to May 2012, California-based Wells Fargo issued 840 out of the total 4,700 home mortgages in NYC., more than New York-based CitiMortgage and JP Morgan Chase Bank, which trailed by some distance.
The loan activity for the luxury home segment** between 2008 and the end of May 2012 brings to the forefront a lender’s name that might come as a surprise for some. California-based First Republic Bank, specializing in luxury home loans mostly for the West Coast area, immediately follows three of the biggest luxury home lenders in NYC — JP Morgan Chase, Bank of America and CitiMortgage.
The number of home mortgages financed in the first 5 months of this year represents nearly 20% of the total home loans financed in 2011 (23,591 mortgages in total). This suggests that the downward trend in home mortgages that started in 2008 is continuing in 2012.
Notes: *The data took into account only one-family dwellings and condominium units that secured a mortgage loan between 2008 and May 2012.
** Luxury homes are considered here to be homes with prices of $3 million and over.
