Leading Subprime Servicers by Volume
May 18, 2007, 10:08 a.m. EDT 1 Min Read
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Leading Subprime Servicers by Volume
| | |||||
| Published May 18, 2007 | |||||
| Volume | Market share | ||||
| 2006 | 2005 | Change | |||
| 1 | Countrywide Financial Corp. Calabasas, Calif. | $119,060 | $120,587 | -1.30% | 9.20% |
| 2 | Chase Home Finance Woodcliff Lake, N.J. | 83,837 | 67,825 | 23.6 | 6.5 |
| 3 | Option One Mortgage Corp. (1) Irvine, Calif. | 69,039 | 79,169 | -12.8 | 5.4 |
| 4 | Ameriquest Mortgage Corp. Orange, Calif. | 65,000 | 70,000 | -7.1 | 5 |
| 5 | CitiFinancial (E) (2) Baltimore | 64,250 | 57,328 | 12.1 | 5 |
| 6 | Ocwen Financial Corp. West Palm Beach, Fla. | 52,160 | 41,989 | 24.2 | 4 |
| 7 | Homecomings Financial Minneapolis | 51,735 | 55,213 | -7.9 | 3.9 |
| 8 | Wells Fargo Home Mortgage Des Moines | 51,321 | 44,715 | 14.8 | 4 |
| 9 | National City Home Loan (3) Pittsburgh | 49,545 | 37,574 | 31.9 | 3.8 |
| 10 | HSBC Mortgage Services Charlotte | 49,465 | 43,792 | 13 | 3.8 |
| Top 10 Totals | $655,412 | $618,192 | 6.00% | 45.80% | |
| Submitted Totals | $1,074,668 | $1,004,736 | 7.00% | 76.80% | |
Notes: Includes subservicing contracts. Results may vary because some firms would not disclose subprime receivables. Market share is based on estimated subprime receivables of $1.289 trillion at 12/31/06. (1) Option One is owned by H&R Block and is for sale. (2) Citigroup stopped reporting its subprime servicing last year. This is an estimate. (3) NCHL is owned by Merrill Lynch. (E) Estimate. (BK) Firm has filed for bankruptcy protection.
Source: NMN/Annual Data Report.
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