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Top Subprime Servicers at 12/31/03

(Dollars in Millions)

(part 1 of 2)

Rank Organization Name, Location

1 Household Financial Services, Prospect Heights, IL (1) (E)

2 CitiFinancial, Baltimore, MD

3 Homecomings, Bloomington, MN

4 Option One Mortgage Corp., Irvine, CA

5 Fairbanks Capital Corp., Salt Lake City, UT, (2)

6 Countrywide Financial Corp., Calabasas, CA

7 Ocwen Financial Corp., West Palm Beach, FL

8 Homeq Servicing Corp., North Highlands, CA

9 Chase Home Finance, Woodcliff Lake, NJ

10 Ameriquest Mortgage Corp., Orange, CA (E)

Rank Organization Name, Location

11 Washington Mutual, Seattle, WA

12 National City Home Loan, Pittsburgh, PA

13 Key Consumer Real Estate ,Parsippany, NJ

14 Wells Fargo Home Mortgage, San Francisco, CA

15 New Century Financial Corp., Irvine, CA

16 PCFS Financial Services, Cincinnati, OH

17 EMC Mortgage, Irving, TX (E)

18 Saxon Mortgage, Glen Allen, VA

19 NovaStar Mortgage, Inc., Kansas City, MO

20 Centex Home Equity Company, Dallas, TX

(part 2 of 2)

Total Servicing %

Rank 12/31/03 12/31/02 Change

1 $55,815 $45,818 22%

2 $50,400 $47,626 6%

3 $44,227 $27,722 60%

4 $41,365 $28,071 47%

5 $40,957 $49,313 -17%

6 $39,361 $25,180 56%

7 $37,507 $30,414 23%

8 $28,953 $16,749 73%

9 $27,985 $16,167 73%

10 $19,294 $16,000 21%

% Market

Rank 12/31/03 12/31/02 Change Share

11 $19,264 $14,529 33% 2.89%

12 $18,376 $12,418 48% 2.75%

13 $14,999 $7,100 111% 2.25%

14 $12,727 $6,082 109% 1.91%

15 $11,600 $4,000 190% 1.74%

16 $11,510 $7,554 52% 1.72%

17 $11,000 na na 1.65%

18 $9,900 $7,576 31% 1.48%

19 $7,206 $3,658 97% 1.08%

20 $6,863 $5,171 33% 1.03%

Top 20 Totals:

$509,308 $371,146 37% 63.42%

Submitted Totals:

$556,091 $407,731 36% 70.43%

Notes: Includes subservicing contracts. Results may be incomplete because some firms would not disclose subprime receivables. Market share is based on estimated subprime receivables of $667.3 billion at 12/31/03. (E) Estimate. (1) Household was sold to HSBC in 2003. (2) Fairbanks is owned, in part, by PMI.

Source: MSN/Quarterly Data Report. Questions? Email: Paul.MuoloThomsonMedia.com. Copyright 2004 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.mortgageservicingnews.com

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