Countrywide Now Largest B&C Servicer

Countrywide Home Loans, Calabasas, Calif., is now the largest subprime residential servicer in the nation, according to new rankings compiled by National Mortgage News.At the end of June Countrywide serviced $58.07 billion in subprime home mortgages, a 104% increase from the same period last year, according to exclusive rankings compiled for NMN's Quarterly Data Report. For several quarters Countrywide has been creeping up on Household Finance, Prospect Heights, Ill., and CitiFinancial, Baltimore, which have dominated the subprime servicing landscape for several years. At the end of June Household (which is owned by HSBC) ranked second among subprime servicers with $56 billion, followed by CitiFinancial ($54 billion). Countrywide, at the end of June, was the nation's largest overall servicer with $726 billion.