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Top Subprime Servicers at 6/30/04

(Dollars in Millions)

(part 1 of 2)

Rk Organization Name Location

1 Countrywide Financial Corp. Calabasas, CA

2 Household Financial Services (1) Prospect Heights, IL

3 CitiFinancial Baltimore, MD

4 Option One Mortgage Corp. Irvine, CA

5 Homecomings Minneapolis, MN

6 Chase Home Finance Woodcliff Lake, NJ

7 Ameriquest Mortgage Corp. (E) Orange, CA

8 Ocwen Financial Corp. W. Palm Beach, FL

9 Select Portfolio Servicing/Fairbanks (2) Salt Lake City, UT

10 Wells Fargo Home Mortgage San Francisco, CA

Rk Organization Name Location

11 Homeq Servicing Corp. North Highlands, CA

12 National City Home Loan Pittsburgh, PA

13 New Century Financial Corp. Irvine, CA

14 Washington Mutual (E) Seattle, WA

15 Key Consumer Real Estate Parsippany, NJ

16 Saxon Mortgage Glen Allen, VA

17 EMC Mortgage (E) Irving, TX

18 PCFS Financial Services Cincinnati, OH

19 NovaStar Mortgage, Inc. Kansas City, MO

20 Centex Home Equity Company Dallas, TX

(part 2 of 2)

Total Servicing Volume % Market

Rk 6/30/2004 6/30/2003 Change Share

1 $58,076 $28,420 104% 7.70%

2 $56,033 $49,800 13% 7.43%

3 $54,031 $48,587 11% 7.16%

4 $48,385 $33,042 46% 6.41%

5 $48,206 $33,617 43% 6.39%

6 $36,423 $20,168 81% 4.83%

7 $35,000 $17,500 100% 4.64%

8 $34,768 $33,507 4% 4.61%

9 $26,649 $51,506 -48% 3.53%

10 $26,064 $8,511 206% 3.45%

11 $26,057 $11,053 136% 3.45%

12 $22,252 $14,259 56% 2.95%

13 $20,900 $5,600 273% 2.77%

14 $17,338 $17,226 1% 2.30%

15 $14,631 $13,072 12% 1.94%

16 $11,364 $8,318 37% 1.51%

17 $11,000 n/a n/a 1.46%

18 $10,738 $7,951 35% 1.42%

19 $9,601 $5,146 87% 1.27%

20 $8,002 $5,927 35% 1.06%

Top 20 Totals:

$575,518 $413,210 39% 70.22%

Submitted Totals:

$651,776 $428,770 52% 76.67%

Note: Includes subservicing contracts. Results may vary because some firms would not disclose subprime receivables. Market share is based on estimated subprime receivables of $770.25 billion. (E) Estimate. (1) Household is owned by HSBC. (2) Fairbanks is owned, in part, by PMI.

Source: MSN/Quarterly Data Report.

Questions: Email: Paul.MuoloThomsonMedia.com.

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