Leading Residential Servicers
Leading Residential ServicersOn June 30, 2008. Dollars in millions. | ||||||
---|---|---|---|---|---|---|
Rank | | | | Market share | | |
1 | Wells Fargo & Co., San Francisco | $1,496,128 | $1,410,647 | 6.1% | 15.6% | 0.2% |
2 | Countrywide Financial Corp. (1), Calabasas, Calif. | 1,485,285 | 1,415,472 | 4.9% | 15.4% | 0.1% |
3 | Chase (2), Iselin, N.J. | 829,132 | 721,239 | 15.0% | 8.6% | 0.8% |
4 | CitiMortgage Inc. (3), O'Fallon, Mo. | 816,785 | 781,600 | 4.5% | 8.5% | 0.0% |
5 | Washington Mutual (2), Seattle | 603,651 | 626,140 | -3.6% | 6.3% | -0.5% |
6 | Bank of America (1), Charlotte | 540,813 | 460,100 | 17.5% | 5.6% | 0.6% |
7 | Residential Capital LLC (GMAC), Minneapolis | 397,842 | 472,715 | -15.8% | 4.1% | -1.0% |
8 | Wachovia Mortgage FSB (3), Charlotte | 201,133 | 178,098 | 12.9% | 2.1% | 0.2% |
9 | IndyMac Bancorp Inc. (E) (CON), Pasadena, Calif. | 196,682 | 183,574 | 7.1% | 2.0% | 0.1% |
10 | National City Mortgage, Miamisburg, Ohio | 190,459 | 178,917 | 6.5% | 2.0% | 0.0% |
11 | SunTrust Mortgage Inc., Richmond | 153,152 | 142,019 | 7.8% | 1.6% | 0.1% |
12 | PHH Mortgage, Mount Laurel, N.J. | 145,174 | 164,582 | -11.8% | 1.5% | -0.3% |
13 | U.S. Bank Home Mortgage, Bloomington, Minn. | 128,699 | 108,796 | 18.3% | 1.3% | 0.2% |
14 | Aurora Loan Services Inc. (4), Aurora, Colo. | 124,924 | 109,424 | 14.2% | 1.3% | 0.1% |
15 | First Horizon Home Loans, Irving, Tex. | 102,730 | 106,005 | -3.1% | 1.1% | -0.1% |
16 | EMC Mortgage (2), Lewisville, Tex. | 82,443 | 80,567 | 2.3% | 0.9% | 0.0% |
17 | Dovenmuehle Mortgage (E) (SS), Lake Zurich, Ill. | 72,548 | 69,000 | 5.1% | 0.8% | 0.0% |
18 | BB&T Corp., Wilson, N.C. | 70,116 | 61,419 | 14.2% | 0.7% | 0.1% |
19 | HSBC Mortgage Corp. USA, Depew, N.Y. | 67,123 | 65,217 | 2.9% | 0.7% | 0.0% |
20 | Taylor, Bean and Whitaker, Ocala, Fla. | 66,390 | 47,680 | 39.2% | 0.7% | 0.2% |
21 | Saxon Mortgage Services (5), Fort Worth | 60,503 | 38,764 | 56.1% | 0.6% | 0.2% |
22 | Annaly Capital Investment (MR), New York | 58,017 | 38,603 | 50.3% | 0.6% | 0.2% |
23 | Flagstar Bank FSB, Troy, Mich. | 54,581 | 34,651 | 57.5% | 0.6% | 0.2% |
24 | Cenlar FSB (SS), Ewing, N.J. | 53,465 | 54,000 | -1.0% | 0.6% | 0.0% |
25 | Fifth Third Mortgage, Cincinnati | 49,229 | 40,713 | 20.9% | 0.5% | 0.1% |
Top 25 Totals: | $8,047,004 | $7,589,942 | 6.0% | 80.3% | 1.3% | |
Total outstanding receivables: | $9,617,502 | $9,209,000 | 4.4% |
Notes: Includes subservicing contracts. Results may be incomplete because some firms would not provide figures. (1)CFC was bought by Bank of America on July 1. This is the last time we will rank the two separately. BoA has agreed to buy Merrill Lynch and its lending and servicing units. (2)Chase bought WaMu with federal help in September. EMC is owned by JPMorgan Chase. (3)Citigroup bought Wachovia with federal assistance in September. (4)ALS is owned by Lehman Brothers. (5)Saxon is owned by Morgan Stanley. (CON) Co. is operating under an FDIC conservatorship. (SS)Firm is mostly engaged in subservicing. (MR) Co. is a mortgage investing REIT. (E)Estimate.
Market share cut based on outstanding U.S. housing debt of $9.618 trillion at June 30, 2008.
Source: NMN Quarterly Data Report.
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