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    President Obama killed proposed legislation that could have shielded banks and mortgage processors from liability for improperly prepared foreclosure documents. The largest U.S. mortgage servicers that collect payments and foreclose on delinquent loans are: 1) Bank of America with $2.1 trillion in loans and a 19.9% market share, 2) Wells Fargo with $1.8 trillion in loans and a 16.9% market share, and 3) JPMorgan Chase with $1.3 trillion in loans and a 12.6% market share.

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    President Obama killed proposed legislation that could have shielded banks and mortgage processors from liability for improperly prepared foreclosure documents. The largest U.S. mortgage servicers that collect payments and foreclose on delinquent loans are: 1) Bank of America with $2.1 trillion in loans and a 19.9% market share, 2) Wells Fargo with $1.8 trillion in loans and a 16.9% market share, and 3) JPMorgan Chase with $1.3 trillion in loans and a 12.6% market share.

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    17 views1 page

    Inside Mortgage Finance

    Uploaded by

    Richarnellia-RichieRichBattiest-Collins
    President Obama killed proposed legislation that could have shielded banks and mortgage processors from liability for improperly prepared foreclosure documents. The largest U.S. mortgage servicers that collect payments and foreclose on delinquent loans are: 1) Bank of America with $2.1 trillion in loans and a 19.9% market share, 2) Wells Fargo with $1.8 trillion in loans and a 16.9% market share, and 3) JPMorgan Chase with $1.3 trillion in loans and a 12.6% market share.

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    Source: Inside Mortgage Finance

    Top U.S. mortgage servicers


    Thu Oct 7, 2010 4:57pm EDT
    Oct 7 (Reuters) - President Barack Obama killed proposed legislation on Thursday that could have made it more difficult for homeowners to challenge foreclosures. The Interstate Recognition of Notarizations Act cruised through the Senate last week with no public debate and could have shielded bank and mortgage processors from liability for foreclosure documents that are prepared improperly. Below are the largest U.S. mortgage servicers, which collect mortgage payments and foreclose on delinquent loans, as of June 30, 2010. Bank Total Loans Market Servicing now Share in $billions 1) Bank of America (BAC.N) $2,135.30 19.9% 2) Wells Fargo (WFC.N) $1,811.97 16.9% 3) JPMorgan Chase & Co (JPM.N) $1,353.60 12.6% 4) Citigroup Inc (C.N) $677.81 6.3% 5) GMAC/Ally Financial $349.08 3.2% 6) US Bancorp (USB.N) $189.85 1.8% 7) SunTrust Banks Inc (STI.N) $175.93 1.6% 8) PHH Mortgage (PHH.N) $155.97 1.4% 9) OneWest Bank, CA (IndyMac) $155.00 1.4% 10)PNC Financial Services (PNC.N) $149.94 1.4% Total residential mortgages outstanding $10,640 ($ billions, for 1-4 family homes) Source: Inside Mortgage Finance

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