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WaMu #1 Servicer - By a Hair.(Washington Mutual Inc.)(Brief Article)
It looks as though the residential servicing sector has a new top banana - Washington Mutual of Seattle. (Well, sort of).
According to figures compiled by Mortgage Servicing News, WaMu was the number one ranked servicer at the end of March, based on pro forma results.
At March 31, WaMu had $455.92 billion in servicing, if $143.99 billion in servicing from Fleet Mortgage Group, Columbia, S.C., is added to its total.
At $455.92 billion, WaMu would edge out perennial leader Wells Fargo Home Mortgage, which had $455.54 billion in housing receivables at the end of the first quarter.
However, the Fleet purchase was announced in early April and cannot be counted toward WaMu's servicing at the end of March.
Because the sale of FMG will close officially sometime in the second quarter, Wells Fargo Home, for now, is still the number one servicer in the nation.
Also, it is entirely possible that Wells could still be number one at June 30 if it out-produces WaMu in new originations (keeping the servicing) and if WaMu doesn't make another large acquisition of servicing or another franchise.
- With fleet deal, WaMu is Top Servicer.(Fleet Mortgage Corp.)(Washington Mutual...
- Magazine article from: Mortgage Servicing News June 1, 2001 700+ words
...Share Washington Mutual $311,932 5.98 % Fleet Mortgage $143,992 2.76 % WaMu/Fleet: $455,924 8.74 % Wells Fargo Home...subservicing contracts. WaMu's purchase of Fleet Mortgage did not close in the first quarter. Source...
- WaMu Set To Pass $400B Mark.(Washington Mutual Inc.)(Brief Article)(Statistical...
- Magazine article from: Mortgage Servicing News Muolo, Paul May 1, 2001 700+ words
...million. The acquisition of Fleet Mortgage makes WaMu the number one residential...heavy. As far as the Fleet Mortgage acquisition is concerned, WaMu will pay $660 million in cash, or 1.1 times Fleet Mortgage's book value. The sale...
- WaMu Buys Fleet in Biggest Servicing Deal.
- Magazine article from: National Mortgage News Muolo, Paul April 9, 2001 700+ words
...agreed to purchase Fleet Mortgage Group for $660 million...acquisition of FMG makes WaMu the number one residential...because it would allow WaMu to diversify its...heavy. As far as the Fleet Mortgage acquisition is concerned, WaMu will pay $660 million...
- WaMu up in correspondent.(Washington Mutual)
- Magazine article from: Origination News Muolo, Paul May 1, 2001 700+ words
...correspondent lenders. Thanks to WaMu's planned purchase of Fleet Mortgage Group - as well as its recent...correspondent lenders and PNC, fifth. WaMu, whose forte has been retail...12th. (See table.) But once WaMu incorporates PNC and FMG's...
- WAMU THE CONQUERER: Washington Mutual becomes the superhero of the thrift...
- Magazine article from: US Banker Fogarty, Mark July 1, 2001 700+ words
...largest savings institution. "WaMu's management has a history...including its recent purchase of Fleet Mortgage Corp. CEO Kerry Killinger...American Mortgage affiliate, WaMu soon could reach a target once...potential acquisitions, but says WaMu remains interested in new deals...
- WaMu -- THE POWER OF YES.(Washington Mutual Inc.)(Statistical Data Included)
- Magazine article from: Mortgage Banking ENGLAND, ROBERT STOWE June 1, 2001 700+ words
...finalizes the purchase of Fleet Mortgage this month. The company...Mutual, Inc.'s (WaMu) Seattle-based Home...look up and shout, "WaMu-lujah!" A talented...South Carolina-based Fleet Mortgage Corporation. With the...volume, according to WaMu. (Fleet retains its...
- Who Is Left for WaMu to Buy?
- Magazine article from: Mortgage Servicing News Muolo, Paul February 1, 2002 700+ words
...and have speculated that WaMu might even take a run at CalFed...speculation is just that, and WaMu is busy integrating its purchases...American Mortgage, Tampa; Fleet Mortgage, Columbia, S.C.; and...few. In a recent interview, WaMu mortgage chief Craig Davis...
- Money in the Bank at WaMu.
- News wire article from: The America's Intelligence Wire April 1, 2003 700+ words
...based Dime Bancorp in January, Fleet Mortgage Corp. in June, and Homeside...Lending in October. The result: WaMu is now among the 10 largest...Standard & Poor's think WaMu is well-positioned for further...STARS (buy), to the stock. WaMu's targeting of middle-market...
- WaMu's whopping portfolio. (Cover Report: Servicing).(Washington...
- Magazine article from: Mortgage Banking Lutz, Warren February 1, 2003 700+ words
...which figures were available, WaMu estimated its total servicing...servicing portfolio, according to WaMu. In June, it bought Columbia, South Carolina--based Fleet Mortgage Corporation, a unit of Fleet...buying continued in 2002. WaMu bought New York-based Dime...
- WaMu's Davis: more M&As ahead.(Brief Article)
- Magazine article from: Origination News May 1, 2001 700+ words
...With the ink barely dry on WaMu's announced acquisition of Fleet Mortgage Group, Columbia, S...speculating on which lender WaMu might target next. For...Report. By purchasing Fleet Mortgage, WaMu not only gains $136 billion...
Source: HighBeam Research, WaMu #1 Servicer - By a Hair.(Washington Mutual Inc.)(Brief Article)