Wells Fargo & Co. ended March with $1.84 trillion of residential servicing contracts on its books, once again ranking first — but barely growing its market share.
According to exclusive survey figures compiled by ASR sister publications National Mortgage News and the Quarterly Data Report, Wells amassed a 20.47% share, compared to 20.06% at yearend.
Bank of America, a net seller of servicing for almost a year, ranked second with $1.69 trillion of MSRs, down 16% from March 31, 2011.
Rounding out the top five were Chase ($1.1 trillion/-8%), CitiMortgage ($517 billion/-11%) and Ally Financial ($372 billion/-1%). The comparisons are to March 31, 2011.
Ally’s mortgage unit has filed for bankruptcy protection and may be split up and sold. Chase and Citi have been sellers of MSRs as well.
The top five, combined, had a 61.47% market share (based on $8.9 trillion in outstanding mortgage debt) compared to 62.52% at yearend, according to NMN/QDR.