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Home » Store » News » BofA, Wells Fargo Top FHA Servicing Market

BofA, Wells Fargo Top FHA Servicing Market

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Bank of America and Wells Fargo continued to be the dominant FHA mortgage servicers in a market continuously plagued by high default rates. As of the 2011 midyear mark, the megabanks held 3.86 million in FHA-insured loans in their combined portfolios, giving them a commanding 54.9 percent share of the FHA servicing market, according to Inside FHA Lending’s latest analysis of Neighborhood Watch data. Including BofA and Wells Fargo, the top 50 FHA servicers accounted for 97.3 percent of the market or a total of 6.83 million FHA loans as of June 30. The total for FHA servicing was 7.02 million over the six-month period. The percentage of FHA loans that were 30-60 days delinquent was ... [Includes one data chart]
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