Leading Subprime Servicers
Published October 12, 2007, 10:08 a.m. EDT
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Updated January 02, 1970, 9:08 a.m. EST
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Leading Subprime Servicers
Leading Subprime ServicersIn the first half of 2007. Dollars in millions. | ||||||
|---|---|---|---|---|---|---|
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| 1 | Countrywide Financial Corp. Calabasas, Calif. | $125,812 | $115,615 | 8.8% | 10.51% | |
| 2 | Chase Home Finance Woodcliff Lake, N.J. | 81,647 | 78,406 | 4.1 | 6.82 | |
| 3 | Option One Mortgage Corp. (E) (1) Irvine, Calif. | 68,000 | 74,060 | -8.2 | 5.68 | |
| 4 | CitiFinancial(E) (2) Baltimore | 66,000 | 62,000 | 6.5 | 5.51 | |
| 5 | Residential Capital (GMACResCap) Minneapolis | 57,681 | 74,126 | -22.2 | 4.82 | |
| 6 | Argent/Ameriquest MortgageCorp.(E) (2) Orange, Calif. | 57,000 | 112,000 | -49.1 | 4.76 | |
| 7 | Home Loan Services Inc.(3) Pittsburgh | 53,660 | 43,893 | 22.3 | 4.48 | |
| 8 | Ocwen Loan Servicing LLC West Palm Beach | 53,122 | 46,385 | 14.5 | 4.44 | |
| 9 | Wells Fargo Home Mortgage SanFrancisco | 52,189 | 47,202 | 10.6 | 4.36 | |
| 10 | Homeq Servicing Corp.(4)North Highlands, Calif. | 50,188 | 42,298 | 18.7 | 4.19 | |
| Top 10 totals: | $665,299 | $695,985 | -4.4% | 50.81% | ||
| Total submitted: | $997,754 | $987,076 | 1.1% | 73.24% | ||
Notes: Includes subservicing contracts. Results may be incomplete because some subprime servicers would not provide figures. Market share cut based on outstanding subprime loans of $1.2 trillion at June 30, 2007. (1) Option One is slated for sale to Cerberus, a hedge fund that also owns GMAC. (2) Citigroup has agreed to buy Ameriquests servicing operation and receivables. (3) Owned by Merrill Lynch. (4) Owned by Barclays. (E) Estimate.
Source: NMN/Mid-year Data Report.
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