FACTBOX - Top U.S. mortgage servicers
Oct 7 (Reuters) - President Barack Obama killed proposed legislation on Thursday that could have made it more difficult for homeowners to challenge foreclosures.
The Interstate Recognition of Notarizations Act cruised through the Senate last week with no public debate and could have shielded bank and mortgage processors from liability for foreclosure documents that are prepared improperly.
Below are the largest U.S. mortgage servicers, which collect mortgage payments and foreclose on delinquent loans, as of June 30, 2010.
Bank Total Loans Market
Servicing now Share
in $billions 1) Bank of America (BAC.N) $2,135.30 19.9% 2) Wells Fargo (WFC.N) $1,811.97 16.9% 3) JPMorgan Chase & Co (JPM.N) $1,353.60 12.6% 4) Citigroup Inc (C.N) $677.81 6.3% 5) GMAC/Ally Financial $349.08 3.2% 6) US Bancorp (USB.N) $189.85 1.8% 7) SunTrust Banks Inc (STI.N) $175.93 1.6% 8) PHH Mortgage (PHH.N) $155.97 1.4% 9) OneWest Bank, CA (IndyMac) $155.00 1.4% 10)PNC Financial Services (PNC.N) $149.94 1.4% Total residential mortgages outstanding $10,640
($ billions, for 1-4 family homes)
Source: Inside Mortgage Finance
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