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Top Subprime Subservicers at 9/30/04

(Dollars in Millions)

(part 1 of 2)

Rk Organization Name Location

1 Option One Mortgage Corp. Irvine, CA

2 Homeq Servicing Corp. North Highlands, CA

3 Select Portfolio Servicing/Fairbanks Salt Lake City, UT

4 Wilshire Credit Corp. (1) Beaverton, OR

5 Mortgage Lenders Network, USA Middletown, CT

6 Ocwen Financial Corp. West Palm Beach, FL

7 Countrywide Financial Corp. Calabasas, CA

8 Wendover Financial Services Greensboro, NC

9 People's Choice Home Loan, Inc Irvine, CA

10 Centex Home Equity Company Dallas, TX

(part 2 of 2)

Subservicing Volume %

Rk 9/30/2004 9/30/2003 Change

1 $16,848 $10,614 59%

2 $10,929 $17,314 -37%

3 $8,002 $18,778 -57%

4 $7,565 $3,803 99%

5 $7,371 $4,742 55%

6 $6,743 $4,331 56%

7 $5,944 $2,975 100%

8 $1,641 $4,607 -64%

9 $1,217 $468 160%

10 $613 n/a n/a

Top 10 Totals:

$66,873 $67,632 -1%

Submitted Totals:

$66,928 $67,731 -1%

Note: Results may be incomplete because some firms would not disclose subprime subservicing figures. (E) Estimate. (1) Wilshire is owned by Merrill Lynch.

Source: MSN/Quarterly Data Report. Questions? Email: Paul.MuoloThomsonMedia.com. Copyright 2005 Thomson Media Inc. All Rights Reserved. http://www.thomsonmedia.com http://www.mortgageservicingnews.com