Top Subprime Servicers
Published October 20, 2008, 10:08 a.m. EDT
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Updated January 02, 1970, 9:08 a.m. EST
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Top Subprime Servicers
Top Subprime ServicersIn the first half of 2008. Dollars in millions. | |||||
|---|---|---|---|---|---|
| Rank | Volume | Year earlier | Change | Market Share | |
| 1 | Countrywide Financial Corp. (1), Calabasas, Calif. | $100,731 | $125,812 | -19.9% | +10.3% |
| 2 | American Home Mortgage Servicing, Inc. (2), Irving, Tex. | 90,846 | 123,398 | -26.4% | +9.3% |
| 3 | Chase, Woodcliff Lake, N.J. | 68,769 | 81,647 | -15.8% | +7.0% |
| 4 | CitiMortgage, Inc. (E), Baltimore | 64,100 | 66,000 | -2.9% | +6.6% |
| 5 | Litton Loan Servicing Inc. (E) (3), Houston | 54,000 | 46,435 | 16.3% | +5.5% |
| 6 | Saxon Mortgage Services (4), Fort Worth | 50,018 | 38,764 | 29.0% | +5.1% |
| 7 | Wells Fargo & Company (E), San Francisco | 50,000 | 52,189 | -4.2% | +5.1% |
| 8 | Ocwen Loan Servicing, LLC, West Palm Beach, Fla. | 44,832 | 53,122 | -15.6% | +4.6% |
| 9 | Homeq Servicing Corp., North Highlands, Calif. | 40,597 | 50,188 | -19.1% | +4.2% |
| 10 | Home Loan Services, Inc. (5), Pittsburgh | 39,831 | 53,660 | -25.8% | +4.1% |
| Top 10 totals: | $603,724 | $691,215 | -12.7% | +57.7% | |
| Submitted totals: | $813,898 | $955,459 | -14.8% | +74.6% | |
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 $979 billion at June 30, 2008. (E) Estimate. (1) CFC was bought by BoA on July 1. (2) American Home is owned by WL Ross & Co. (3) Litton is owned by Goldman Sachs. (4) Saxon is owned by Morgan Stanley. (5) HLS is owned by Merrill Lynch which is being bought by Bank of America.
Source: NMN/Mid-Year Data Report (MDR).
Questions? Email:Paul.Muolo@SourceMedia.com
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