MortgageStats.com reports that Wells Fargo, with a bank location in Steamboat Springs, led the list of the top 10 mortgage lenders in the nation during the first quarter of 2010.

However, the Web page reported that each bank in the top 10 saw fundings drop compared to a year earlier, with many seeing declines of 25-50 percent.

Wells Fargo led the way with $77 billion in first quarter originations, followed closely by Bank of America with $71.5 billion and Chase with $32.8 billion.

The numbers dropped off significantly to third place with Ally Bank/ResCap (GMAC) doing $13 billion in mortgage business. CitiMortgage had $11 billion and U.S. Bank Home Mortgage had $9 billion.

The biggest year-over-year loser was SunTrust, which saw fundings fall 58 percent from the first quarter of 2009, back when refinancing was the hot ticket.