The nation’s top five residential servicing firms, as a group, now control almost 67% of all housing debt in the U.S., another sign that consolidation in the struggling industry is rampant, according to exclusive survey figures collected by National Mortgage News.
The group of five: Bank of America, Wells Fargo, Chase Home, CitiMortgage and Residential Capital Corp. owned $6.513 trillion in servicing rights at year-end, a 27% increase from the same period 12 months earlier.
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