The new GNMA servicer rankings are out and once again Wells Fargo leads the pack with $238 billion, which translates into a market share of almost 26%. Bank of America is a somewhat close second with $220 billion. It's a good thing that Congress and the White House are trying to eliminate 'too big too fail' because if these two ever go down â” and there's nothing to indicate they will â” that would wipe out almost half the GNMA market, at least in terms of issuers. (Because there are so many active issuers, I'm sure the survivors would pick up the slack.)
Luckily, Congress is on the job, trying to prevent the monopolization of the U.S. mortgage market. (I assume you sense my sarcasm.) Anyway, the complete rankings of GNMA servicers are available in the Quarterly Data Report, a National Mortgage News productâ¦
