Expanding the Wells Fargo Moat:
Oct 7 (Reuters)
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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