The Top Three Residential Servicers and Their Servicing Valuations

(Dollars in Millions)

Servicer Value of serv Value of serv Percent change

Name at 6-30-04/Serv at 6-30-03/Serv bal in serv. Value/bal

Wells Fargo $8,512 $3,821 123%

$740,220 $592,687 25%

Countrywide $8,334 $4,654 79%

$726,227 $559,124 30%

WaMu $7,501 $4,598 63%

$717,995 $726,920 -1%

Notes: The value of residential servicing rights is listed on the balance sheet of each of these publicly-traded firms as an asset.

Source: Company reports. Compiled by MSN/Quarterly Data Report.

Questions? Email: Paul.MuoloThomsonMedia.com

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