Cenlar FSB, Ewing, N.J., ended the second quarter with $100 billion with of subservicing contracts on its books, ranking first nationwide, according to figures compiled by National Mortgage News and the
Cenlar, which has a thrift charter but no traditional branches, grew its subservicing business by 25% year-over-year.
Dovenmuehle, Lake Zurich, Ill., ranked second with $65 billion worth of contracts on its books. However, Dovenmuehle’s volume is an estimate. For years the privately held company has disclosed little about its operations.
Cenlar is privately held as well, as are many other subservicing firms that report their figures to NMN/QDR.
In the second quarter at least 27 companies were acting as subservicers with combined contracts of $444 billion. One active subservicer that declined to provide figures to NMN is Seterus, the subservicing arm of IBM.
Seterus is a Fannie-approved subservicer.
