The nation’s top three megabanks – Wells Fargo & Co., Bank of America, and JPMorgan Chase – saw their second lien production volumes swoon in the first quarter, according to new figures compiled by National Mortgage News and the Quarterly Data Report.

Wells funded $1.53 billion of seconds in 1Q, a 32% decline from the same quarter a year ago. But BofA and JPMorgan faired even worse with volume declines of 62%, and 64%, respectively.

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