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Consolidation Fuels Rapid Growth for Mega-Servicers.(Brief Article)
The three largest servicers now each manage more than $400 billion in home loan receivables, an industry first.
And that is not the only consolidation milestone that was reached in the second quarter. The top five each manage more than $300 billion of home loans. And the top ten servicers now control more than half of all the outstanding mortgages in the U.S.
According to second-quarter figures compiled by this newspaper, the top ten had a combined market share of 50.63% at June 30, compared to 41.6% at the same period last year, a market share gain of almost 22% over 12 months.
The pace of servicing consolidation, as most mortgage executives know, has been nothing short of phenomenal the past few years. At the end of 1995, for instance, the top 10 had a combined market share of just 24.9%.
When, and if, servicing consolidation will slow is anyone's guess, but there are some potential storm clouds on the horizon.
The refinancing boom, which started in the fourth quarter, is continuing. This has been great news for lenders but several high-profile servicers - chief among them, HomeSide of Jacksonville, Fla. - have announced large writedowns due to higher-than-expected prepayments.
The refi boom has forced firms that capitalize servicing to admit that the anticipated revenue from their receivables has been overstated.
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- Magazine article from: Mortgage Servicing News September 1, 2005 700+ words
Group Market Share Period Ending Top 10 58.69% 2Q 2005 Top 10 56.76% 4Q 2004 Top...4Q 2002 Top 10 49.60% 4Q 2001 Top 10 24.95% 4Q 1995 Notes: Market share is based on servicers' percentage of all outstanding residential...
- Servicing Consolidation Keeps Gathering Steam.
- News wire article from: Mortgage Line Muolo, Paul September 8, 2005 700+ words
...the nation's residential loans, a market share gain of almost five points compared...a housing receivables (servicing) market share of 12.09%, according to MSN and...servicers, as a group, had a combined market share of 58.69% compared to 52.62% a...
- Servicing Consolidation Takes a Break.
- Magazine article from: National Mortgage News August 19, 2002 700+ words
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...consolidation," Woodwell points out. So, even though large firms will gain market share--particularly in retail originations and servicing--consolidation will produce opportunities for smaller, more agile organizations. "Without...
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- Magazine article from: National Mortgage News Muolo, Paul August 20, 2001 700+ words
...period last year, a market share gain of almost 22...months. The pace of servicing consolidation, as most mortgage...10 had a combined market share of just 24.9%. When, and if, servicing consolidation will slow is anyone...
- Market share and profits: does marketing matter? (Cover Story)
- Magazine article from: Bank Marketing Deutsch, Barry I. December 1, 1991 700+ words
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- Market Share
- Encyclopedia entry from: Encyclopedia of Management January 1, 2009 700+ words
Market Share Firms are always concerned with the size of the potential market...they actually reach — often referred to as a company's market share. Market share is the percentage of the total market (or industry) sales made...
Source: HighBeam Research, Consolidation Fuels Rapid Growth for Mega-Servicers.(Brief Article)