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February 17, 2006
Wells Fargo's Managed Servicing Portfolio Tops $1 Trillion
Wells Fargo & Company reported that its managed servicing portfolio (including 1 to 4 family first mortgages and commercial mortgage loans serviced for others), along with the company's owned-loans serviced and subservicing, surpassed the $1 trillion mark for the first time in 2005.
At the end of 2005, the company's total managed servicing portfolio totaled $1.016 trillion. "This is astonishing growth considering that just five years ago our total managed servicing portfolio was less than half this total at $468 billion," said Mark Oman, senior executive vice president, Wells Fargo Home and Consumer Finance Group. "Hitting the $1 trillion mark represents the trust that customers have in Wells Fargo to help them reach their dreams of homeownership and succeed financially."
Posted by S. Germain at February 17, 2006 07:46 AM