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Funds News

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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