Top Three See Servicing Market Share Drop Slightly

The nation's top three processors of residential loans saw their grip on the servicing market decline slightly in the fourth quarter, a sign that ultra low rates are causing more run-off than can be recaptured by these firms. According to new figures compiled by National Mortgage News and the Quarterly Data Report, Bank of America, Wells Fargo & Co., and Chase had a combined servicing market share of 52.79% at yearend, a slight decline from the 53.89% they had at September 30. The three, once again, ranked first, second, and third among all mortgage processors with B of A leading the pack: $2.16 trillion in receivables and a market share of 21.3%. Wells and Chase ranked second and third, respectively, with $1.8 trillion (market share: 17.7%) and $1.4 trillion (13.8% MS). B of A was able to grow its servicing portfolio by 5% year-over-year. Wells had a 1% gain but Chase saw its receivables decline by 7%, according to NMN/QDR.