The number of mortgage servicers is dwindling.
Concentration is the word.
Many thought Mozilo's prediction was a bit dire, including Lewis Ranieri, chairman of Bank United, a man who helped invent the mortgage-backed security in the early 1980s. Mozilo doesn't seem so crazy after all. WaMu had been fourth in originations and sixth in servicing before the Fleet deal. Home Copyright 2001, Thomson Financial, All Rights Reserved. Use, duplication, or sale of this service, or data contained herein, is strictly prohibited.