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Top Subservicers at 6/30/04

(Dollars in Millions)

(part 1 of 2)

Rk Organization Name Location

1 Dovenmuehle Mortgage (E) Schaumburg, IL

2 Wells Fargo Home Mortgage San Francisco, CA

3 Cenlar FSB Ewing, NJ

4 Countrywide Financial Corp. Calabasas, CA

5 GMAC Residential Holdings Horsham, PA

6 Homeq Servicing Corp. North Highlands, CA

7 Flagstar Bank, FSB Troy, MI

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

9 Cendant Mortgage (1) Mt. Laurel, NJ

10 LoanCare Servicing Center Inc. Norfolk, VA

(part 2 of 2)

Subservicing Volume % Market

Rk 6/30/04 6/30/03 Change Share

1 $51,000 $46,250 10% 22.21%

2 $31,403 $22,554 39% 13.67%

3 $30,000 $30,000 0% 13.06%

4 $16,027 $11,518 39% 6.98%

5 $11,667 $8,414 39% 5.08%

6 $10,528 $10,345 2% 4.58%

7 $8,849 $8,228 8% 3.85%

8 $6,440 $7,081 -9% 2.80%

9 $5,780 $7,018 -18% 2.52%

10 $4,970 $4,926 1% 2.16%

Top 10 Totals:

$176,664 $156,334 13% 76.92%

Submitted Totals:

$204,087 $177,233 15% 78.92%

Notes: Results may be incomplete because some firms would not disclose this data point. Subprime subservicers are excluded from this ranking. (1) Cendant is for sale. (E) Estimate.

Source: MSN/Quarterly Data Report. Questions? Email: Paul.MuoloThomsonMedia.com.

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