Leading Residential Servicers

View Table
Printer Friendly Version
Leading Residential Servicers

Leading Residential ServicersOn June 30, 2008. Dollars in millions.
Published October 20, 2008

Rank   Production Year earlier Change Market share Change
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.
Questions? Email:

Paul.Muolo@SourceMedia.com
.

© 2008 American Banker