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Top Two Claim 25% Share.(market share)
Washington -- Countrywide Home Loans and Wells Fargo Home Mortgage had a combined servicing market share of 25.53% at year-end, the first time ever that two firms controlled more than one-quarter of the nation's housing receivables.
The No. 1 ranked Countrywide serviced $1.11 trillion in home mortgages at year-end, a 33% increase from the same period a year ago, according to exclusive survey figures compiled by National Mortgage News and the Quarterly Data Report.
WFHM serviced just over $1 trillion with a growth rate of 29%. It also marks the first time ever that two firms have more that $1 trillion in receivables on their books.
The servicing figures for Countrywide and WFHM include all residential loan types, including first and second liens, conventional, subprime, jumbo, alt-A and other products. (It also includes subservicing contracts.)
The Calabasas, Calif.-based Countrywide had the strongest growth rate among the top 10 servicers. WFHM, which is based in San Francisco, had the second strongest growth rate among the top 10.
However, among the top 30, Wachovia, Charlotte, N.C., and American Home Mortgage, Melville, N.Y., had even faster growth - ...
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