Excerpt:
“Before the housing bubble burst, many believed the nation’s five biggest banks would control 90 percent of U.S. mortgages, but some experts now believe mid-size lenders will have greater opportunity to enter the market, National Mortgage News reported Aug. 31.”
“Currently, Wells Fargo, Bank of America, JPMorgan Chase, Citigroup and Ally Financial hold 60 percent of the servicing market, but National Mortgage News reported that the trend toward consolidation appeared to be reversing, particularly now that Bank of America is selling off portions of its servicing portfolio.”
Full article is here.