Rankings of top servicers substantially improved.

In an effort to keep better tabs on the mortgage servicing industry, American Banker has overhauled its annual survey of top servicers.

The changes, carried out in consultation with mortgage professionals and analysts, are reflected in the tables that start on page 14.

Among the most signicant changes:

* The industry has been divided into residential servicing and commercial real estate servicing.

Today, the top residential mortgage servicers are listed. Commercial real estate servicers will be listed in the near future.

* Institutional distinctions have been eliminated. There is now one listing that includes mortgage companies, commercial banks, and thrifts.

* The definition of servicing for affiliates has been tightened.

In the past, some institutions were including mortgages that they themselves or their affiliates owned as servicing for investors.

This year, servicing of mortgages held by the company or affiliates is classified as "loans serviced for self."

A new category, "total servicing," combines servicing for investors and servicing for self.

Biggest Impact Is on Citi Figures

The largest company affected is Citicorp Mortgage Inc., because American Banker has not restated its 1992 data for the changes in definition.

As a result, the 44% decline shown in the ranking is significantly larger than the actual decline.

For the same reason, a number of other declines in investor servicing this year may also be attributable to definitional changes.

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