Wells Fargo Solidifies Grip on Ginnie Mae Servicing Market as Supply of Available Business Shrinks
April 21, 2006
It’s a good thing for Wells Fargo Home Mortgage that it has hundreds of billions of conventional mortgage servicing business because the government-insured sector is a tough place to grow. The outstanding supply of Ginnie Mae servicing fell 7.5 percent from the first quarter of 2005 to the end of March 2006, and most of the top servicers in this market saw their Ginnie business drop over this period. Wells Fargo, with a huge… [One data table included]