Residential mortgage originations drop

While mortgage application volume has been increasing in recent weeks, residential originations from U.S. lenders have generally been on the decline between April and June, according to a new report from

Based on second-quarter data, Wells Fargo produced the largest number of loans in terms of quantity, but when compared to the first quarter of 2011, volume was down 24 percent.

In second and third place were Bank of America and JPMorgan Chase, respectively. BoA saw residential mortgage lending volume drop on a quarterly basis by 29 percent, with JPMorgan sustaining a more modest decline of 5 percent.

Rounding out the top five were Ally Financial and Citigroup, with Ally posting a modest increase of 4 percent compared to 2010's second quarter.

While rate assessment may factor into the frequency with which borrowers apply for mortgages, consumers' credit rating impacts the likelihood of lenders approving their loan requests. If consumers have a bad credit rating, they may be denied. However, a credit repair attorney may be able to identify questionable items, potentially leading to the filing of investigation or dispute letters challenging the erroneous credit report notations.