A pop quiz: Which residential mortgage servicer has the largest average loan size in its portfolio? It must be Bank of America Mortgage of Charlotte, NC, because it happens to be the largest servicer in the nation? Right?No? Then what about Chase Manhattan Mortgage or Wells Fargo Home Mortgage, or Countrywide? They rank two, three and four, respectively, in housing receivables (based on second quarter figures). Nope, nope and nope again. The mortgage firm with the largest average loan size is none other than Bethesda, MD-based B.F. Saul Mortgage, a subsidiary of Chevy Chase Bank of Maryland.
At the end of the second half, the average size of a loan serviced by B.F. Saul was $142,350. The average size for BoA Mortgage was $99,876; for Chase, $100,314; Wells Fargo Home Mortgage, $110,146; and Countrywide, $98,476. This translates into rankings of 22nd, 19th, 10th, and 23rd, respectively.