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Servicing Cost Per Loan (Annualized) at June 30, 2003

(part 1 of 2)

Rank Organization Name Location

1 CDC Mortgage Capital, Inc. New York, NY

2 Charter One Bank Cleveland, OH

3 Homestar Mortgage Services Paramus, NJ

4 Thornburg Mortgage, Inc. Sante Fe, NM

5 Ivanhoe Financial, Inc. Orlando, FL

6 Navy FCU Merrifield, VA

7 U.S. Bank Home Motgage Bloomington, MN

8 Branch Banking & Trust Co. Wilson, NC

9 Webster Bank Cheshire, CT

10 Bank of America Charlotte, NC

11 Union Planters Mortgage Cordova, TN

12 Huntington Mortgage Columbus, OH

13 HSBC Mortgage Corp. USA Depew, NY

14 America First CU Riverdale, UT

15 Taylor, Bean & Whitaker Ocala, FL

16 Sovereign Bank, FSB Rosemont, PA

17 First Horizon Home Loans Irving, TX

18 Ohio Savings Bank, F.S.B. Cleveland, OH

19 M & T Mortgage Buffalo, NY

20 Regions Mortgage Inc. Montgomery, AL

21 Fidelity Bank Wichita, KS

22 Columbia Bank Fair Lawn, NJ

23 M & I Mortgage Cedarburg, WI

24 Commercial Federal Mtg. Corp. Omaha, NE

25 VNB Mortgage Services Wayne, NJ

26 Charter Bank Albuquerque, NM

27 American Home Mortgage Melville, NY

28 First National Bank & Trust Co. Stuart, FL

29 Cimarron Mortgage Jackson, MS

30 Guaranty Residential Lending Austin, TX

31 Bank of Hawaii Honolulu, HI

32 SunTrust Mortgage, Inc. Richmond, VA

33 GreenPoint Mortgage Funding Novato, CA

34 Security Savings Mtg. Corp. Canton, OH

35 Towne Mortgage Co. Sterling Heights, MI

(part 2 of 2)

Servicing # of Loans

Rank Cost Per Ln. Serviced

1 $4 4,490

2 $7 299,952

3 $7 18,192

4 $9 6,990

5 $20 2,983

6 $40 99,367

7 $44 598,651

8 $44 337,963

9 $47 37,763

10 $51 2,320,428

11 $53 322,319

12 $62 62,032

13 $63 335,754

14 $68 7,858

15 $70 47,329

16 $76 80,907

17 $76 479,976

18 $81 172,832

19 $86 178,564

20 $87 204,584

21 $88 34,074

22 $93 16,983

23 $95 43,051

24 $97 174,345

25 $101 35,245

26 $108 29,207

27 $109 78,257

28 $110 3,083

29 $110 7,577

30 $121 102,164

31 $123 35,961

32 $143 522,736

33 $148 194,091

34 $149 20,992

35 $235 8,334

Submitted Average

$76 7,029,516

Notes: Several firms calculate this number differently which will result in wide disparities between respondents. In its survey MSN/QDR asks for the full-loaded cost to service.

Source: MSN/Quarterly Data Report. Questions? Email: Paul.MuoloThomsonMedia.com Copyright 2003 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.mortgageservicingnews.com

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