Who Now Controls Most Of America's Mortgages?
I was mistaken on my commentary of 08/03/23 because I
had only listed Countrywide, Fannie Mae and Freddie Mac. Until this Bloomberg article
"Lenders Swamped By Foreclosures Let Homeowners Stay"
appeared recently, I didn't realize who controlled the rest of America's home mortgage business.
The five largest servicers -- Countrywide Financial Corp.,
Wells Fargo & Co., CitiMortgage Inc., Chase Home Finance Inc.
and Washington Mutual Inc.
-- together manage more than half the home loans in the U.S., according to New York-based National Mortgage News, an industry publication.
So if we add Freddie Mac and Fannie Mae to that mix, I figure we've isolated the lion's share of the home mortgage market.
That's why I've added tables below for all of the above. Then you can see just how much our financial system is inter-connected,
and who controls what. It's also amazing just how much influence London and Paris have in American finances. But then again,
this has been going on for almost 400 years. Yes, I know. It is difficult to fathom.
While updating the tables, large changes in holdings showed up.
Especially with Capital Group loading it's boats with Fannie Mae shares. They also significantly added to their
holdings of Countrywide, Wells Fargo, Citigroup, JPMorgan Chase,
Washington Mutual and Freddie Mac. Are they trying to become America's landlord?
Looks like they're betting heavily that most of these mortgages will be paid.
The most significant change has been Capital Group's
sharp rise in ownership in just the last six months. During this same time,
it looks like Barclays and their Associates have been unloading their boats, whether by design or financial necessity.
In fact, Barclays
reduced their holdings in all but Wells Fargo. Why is certainly beyond me. Maybe you can figure it out. I'm just trying to help.
Looking deeper, the Major Holders who control those mortgage companies have certainly
got their hands full. You'll find the TOP 10 Major Holders of each company below.
For the sake of many of our country's retiring boomers, I sure hope Capital Group has made the right choices.
There are also two rating agencies that oversee this marketplace, Standard and Poors
and Moody's. They
were detailed in a previous commentary, CIT/FreddieMac - All In The Family.
Perhaps this is why Capital Group didn't load up as much on Freddie Mac.
As mentioned last year here,
very little has changed since 1889 when the Great Red Dragon book was published,
except that a greater amount of power has been concentrated into fewer hands.
With Capital Group
controlling over $1.4 TRILLION of investments, and that they've become significant holders in our largest mortgage
companies, shouldn't we know more about who's calling the shots at that company?
In my opinion, there's just way too much secrecy in both business and government,
which makes it very easy for people to lie, steal and murder. Especially when the controlled media can't tell us
any more than they do. They do publish the dots, but connecting dots and publishing that information is dangerous.
You have only to read what happened to Gary Webb
to understand the reluctance of journalists.
Perhaps that's the reason why: Sometimes The Dragon Wins
| Symbol |
Name Of Corporation |
CFC
Major
Holders |
Countrywide Financial Corp. (As of 31-Dec-2007) (As of 30-Jun-2007)
| Top 10 Institutional Holders | Shares | 2007 | Value | 2006 |
Brandes Investment Partners L.P. | 55,325,167 | 9.56% | $494,606,992 | -.--% |
Legg Mason Capital Management, Inc. | 54,636,544 | 9.44% | $488,450,703 | -.--% |
Capital Research And Management Company | 47,659,000 | 8.24% | $905,997,590 | -.--% |
Capital World Investors | 31,259,000 | 5.40% | $279,455,460 | -.--% |
FMR LLC (Fidelity) | 30,992,478 | 5.36% | $277,072,753 | -.--% |
Goldman Sachs Group Inc | 28,095,122 | 4.85% | $251,170,390 | -.--% |
Capital Research Global Investors | 25,450,000 | 4.40% | $227,523,000 | -.--% |
Wellington Management Company, LLP | 23,883,186 | 4.13% | $213,515,682 | -.--% |
Barclays Global Investors UK Holdings Ltd | 22,376,812 | 3.87% | $200,048,699 | -.--% |
Pzena Investment Management, LLC | 22,128,424 | 3.82% | $197,828,110 | -.--% |
% of Shares Held by All Insider and 5% Owners: | | 6% | | -.--% |
Top 10 [2.6%] of 383 Institutional Holders Control | | 59.07% | | -.--% |
Percentage of Barclays and "Associates" Control | | 18.16% | | -.--% |
|
|
NOTE: Capital Group manages three funds that control 7.21%.
Legg-Mason manages a fund that controls 3.53%.
Washington Mutual manages a fund that controls 2.73%.
Fidelity manages a fund that controls 1.38%.
Therefore, the TOP 10 Major Holders control 73.92%, and
Barclays/Associates control 24.42% of Countrywide.
Capital Group now controls 35.61%.
| Symbol |
Name Of Corporation |
WFC
Major
Holders |
Wells Fargo & Company (As of 31-Dec-2007) (As of 30-Jun-2007)
| Top 10 Institutional Holders | Shares | 2007 | Value | 2006 |
Berkshire Hathaway, Inc | 289,259,868 | 8.62% | $8,732,755,414 | -.--% |
Capital Research And Management Company | 139,587,000 | 4.16% | $4,972,088,940 | -.--% |
Barclays Global Investors UK Holdings Ltd | 112,321,712 | 3.35% | $3,390,992,485 | -.--% |
State Street Corporation | 111,160,088 | 3.31% | $3,355,923,056 | -.--% |
Capital World Investors | 110,275,000 | 3.29% | $3,329,202,250 | -.--% |
Vanguard Group, Inc. (The) | 97,861,725 | 2.92% | $2,954,445,477 | -.--% |
UBS Global Asset Management (Americas) Inc | 70,084,966 | 2.09% | $2,115,865,123 | -.--% |
FMR LLC (Fidelity) | 65,437,707 | 1.95% | $1,975,564,374 | -.--% |
Davis Selected Advisers, LP | 62,466,514 | 1.86% | $1,885,864,057 | -.--% |
State Farm Mutual Automobile Insurance Co | 55,039,014 | 1.64% | $1,661,627,832 | -.--% |
% of Shares Held by All Insider and 5% Owners: | | 0% | | -.--% |
Top 10 [0.8%] of 1208 Institutional Holders Control | | 33.19% | | -.--% |
Percentage of Barclays and "Associates" Control | | 6.66% | | -.--% |
|
|
NOTE: Capital Group manages three funds that control 2.66%.
Vanguard manages three funds that control 2.17%.
Washington Mutual manages a fund that controls 1.35%.
Davis manages a fund that controls 0.95%.
Barclays manages a fund that controls 0.58%.
Therefore, the TOP 10 Major Holders control 40.90%, and
Barclays/Associates control 8.59% of U.S. Bancorp.
Capital Group now controls 10.11%.
| Symbol |
Name Of Corporation |
C
Major
Holders |
Citigroup Inc. (As of 31-Dec-2007) (As of 30-Jun-2007)
| Top 10 Institutional Holders | Shares | 2007 | Value | 2006 |
Capital Research And Management Company | 230,537,577 | 4.63% | $10,759,188,718 | -.--% |
Barclays Global Investors UK Holdings Ltd | 193,733,224 | 3.89% | $5,703,506,114 | -.--% |
State Street Corporation | 168,713,733 | 3.39% | $4,966,932,299 | -.--% |
Capital Research Global Investors | 152,224,297 | 3.06% | $4,481,483,303 | -.--% |
Vanguard Group, Inc. (The) | 147,162,365 | 2.95% | $4,332,460,025 | -.--% |
Capital World Investors | 135,231,777 | 2.71% | $3,981,223,514 | -.--% |
FMR LLC (Fidelity) | 104,388,753 | 2.10% | $3,073,204,888 | -.--% |
AXA (Paris, France) | 85,210,035 | 1.71% | $2,508,583,430 | -.--% |
Bank of New York Mellon Corporation | 76,662,587 | 1.54% | $2,256,946,561 | -.--% |
UBS Global Asset Management (Americas) Inc | 71,044,110 | 1.43% | $2,091,538,598 | -.--% |
% of Shares Held by All Insider and 5% Owners: | | 0% | | -.--% |
Top 10 [0.7%] of 1416 Institutional Holders Control | | 27.41% | | -.--% |
Percentage of Barclays and "Associates" Control | | 8.82% | | -.--% |
|
|
NOTE: Capital Group manages four funds that control 5.58%.
Vanguard manages three funds that control 2.13%.
Therefore, the TOP 10 Major Holders control 35.12%, and
Capital Group controls 15.98% of Citigroup.
| Symbol |
Name Of Corporation |
JPM
Major
Holders |
JPMorgan Chase & Co (As of 31-Dec-2007) (As of 30-Jun-2007)
| Top 10 Institutional Holders | Shares | 2007 | Value | 2006 |
AXA (Paris, France) | 162,403,230 | 4.83% | $7,088,900,989 | -.--% |
Barclays Global Investors UK Holdings Ltd | 150,034,475 | 4.47% | $6,549,004,833 | -.--% |
State Street Corporation | 123,254,206 | 3.67% | $5,380,046,091 | -.--% |
Vanguard Group, Inc. (The) | 100,641,666 | 3.00% | $4,393,008,720 | -.--% |
FMR LLC (Fidelity) | 89,333,481 | 2.66% | $3,899,406,445 | -.--% |
Capital Research And Management Company | 74,443,901 | 2.22% | $3,411,019,543 | -.--% |
Davis Selected Advisers, LP | 73,675,380 | 2.19% | $3,215,930,337 | -.--% |
Capital Research Global Investors | 66,839,901 | 1.99% | $2,917,561,678 | -.--% |
Bank of New York Mellon Corporation | 57,802,612 | 1.72% | $2,523,084,013 | -.--% |
Goldman Sachs Group Inc | 46,848,341 | 1.39% | $2,044,930,084 | -.--% |
% of Shares Held by All Insider and 5% Owners: | | 1% | | -.--% |
Top 10 [0.7%] of 1317 Institutional Holders Control | | 28.14% | | -.--% |
Percentage of Barclays and "Associates" Control | | 11.25% | | -.--% |
|
|
NOTE: Vanguard manages four funds that control 2.87%.
Capital Research manages a fund that controls 1.99%.
Davis Selected Advisers manages a fund that controls 0.99%.
Washington Mutual manages a fund that controls 0.91%.
Barclays manages a fund that controls 0.59%.
Legg-Mason manages a fund that controls 0.53%.
Therefore, the TOP 10 Major Holders control 36.02%, and
Barclays/Associates controls 13.28% of JP Morgan Chase.
Capital Group controls 6.20%.
| Symbol |
Name Of Corporation |
WM
Major
Holders |
Washington Mutual Inc. (As of 31-Dec-2007) (As of 30-Jun-2007)
| Top 10 Institutional Holders | Shares | 2007 | Value | 2006 |
Capital World Investors | 69,730,000 | 8.03% | $949,025,300 | -.--% |
Capital Research Global Investors | 58,868,550 | 6.78% | $801,200,965 | -.--% |
Brandes Investment Partners L.P. | 50,201,678 | 5.78% | $683,244,837 | -.--% |
Barrow, Hanley Mewhinney & Strauss, Inc. (Old Mutual) | 45,047,319 | 5.19% | $613,094,011 | -.--% |
Hotchkis & Wiley Capital Management, LLC | 43,488,092 | 5.01% | $591,872,932 | -.--% |
Harris Financial Corp | 35,158,812 | 4.05% | $478,511,431 | -.--% |
Franklin Resources, Inc | 29,357,421 | 3.38% | $399,554,499 | -.--% |
Barclays Global Investors UK Holdings Ltd | 29,247,762 | 3.37% | $398,062,040 | -.--% |
Dreman Value Management, L.L.C. | 27,962,797 | 3.22% | $380,573,667 | -.--% |
State Street Corporation | 27,442,059 | 3.16% | $373,486,422 | -.--% |
% of Shares Held by All Insider and 5% Owners: | | 0% | | -.--% |
Top 10 [1.7%] of 574 Institutional Holders Control | | 47.97% | | -.--% |
Percentage of Barclays and "Associates" Control | | 13.96% | | -.--% |
|
|
NOTE: Capital Group manages five funds that control 15.12%.
Franklin manages a fund that controls 2.30%.
Therefore, the TOP 10 Major Holders control 65.09%,
Barclays/Associates control 16.26%, and
Capital Group controls 29.93% of Washington Mutual.
| Symbol |
Name Of Corporation |
FRE
Major
Holders |
Freddie Mac (As of 31-Dec-2007) (As of 30-Jun-2007)
| Top 10 Institutional Holders | Shares | 2007 | Value | 2006 |
Capital Research Global Investors | 60,678,100 | 8.82% | $2,067,302,867 | -.--% |
Capital World Investors | 42,545,600 | 6.18% | $1,449,528,592 | -.--% |
AXA (Paris, France) | 36,630,015 | 5.32% | $1,247,984,611 | -.--% |
Pzena Investment Management, LLC | 29,661,962 | 4.31% | $1,010,583,045 | -.--% |
Barclays Global Investors UK Holdings Ltd | 27,283,692 | 3.97% | $929,555,386 | -.--% |
UBS Global Asset Management (Americas) Inc | 22,649,797 | 3.29% | $771,678,583 | -.--% |
Morgan Stanley | 21,698,473 | 3.15% | $739,266,975 | -.--% |
Hotchkis & Wiley Capital Management, LLC | 21,245,650 | 3.09% | $723,839,295 | -.--% |
State Street Corporation | 21,042,309 | 3.06% | $716,911,467 | -.--% |
Goldman Sachs Group Inc | 20,192,696 | 2.93% | $687,965,152 | -.--% |
% of Shares Held by All Insider and 5% Owners: | | 0% | | -.--% |
Top 10 [2.0%] of 489 Institutional Holders Control | | 44.12% | | -.--% |
Percentage of Barclays and "Associates" Control | | 13.11% | | -.--% |
|
|
NOTE: Capital Group manages four funds that control 17.00%.
Washington Mutual manages a fund that controls 1.65%.
Vanguard manages a fund that controls 0.91%.
Therefore, the TOP 10 Major Holders control 63.68%, and
Barclays/Associates control 14.76% of Freddie Mac.
Capital Group now controls 32.00%.
| Symbol |
Name Of Corporation |
FNM
Major
Holders |
Fannie Mae (As of 31-Dec-2007) (As of 30-Jun-2007)
| Top 10 Institutional Holders | Shares | 2007 | Value | 2006 |
Capital Research And Management Company | 208,804,896 | 21.35% | $12,697,425,725 | -.--% |
Capital Research Global Investors | 115,585,266 | 11.82% | $4,621,098,934 | -.--% |
Capital World Investors | 108,644,200 | 11.11% | $4,343,595,116 | -.--% |
AXA (Paris, France) | 41,085,324 | 4.20% | $1,642,591,253 | -.--% |
Barclays Global Investors UK Holdings Ltd | 38,982,495 | 3.99% | $1,558,520,150 | -.--% |
FMR LLC (Fidelity) | 34,875,486 | 3.57% | $1,394,321,930 | -.--% |
State Street Corporation | 30,604,604 | 3.13% | $1,223,572,067 | -.--% |
Vanguard Group, Inc. (The) | 29,380,820 | 3.00% | $1,174,645,183 | -.--% |
Lord Abbett & Co | 28,150,247 | 2.88% | $1,125,446,875 | -.--% |
HSBC Holdings PLC | 23,281,575 | 2.38% | $930,797,368 | -.--% |
% of Shares Held by All Insider and 5% Owners: | | 0% | | -.--% |
Top 10 [1.6%] of 603 Institutional Holders Control | | 67.43% | | -.--% |
Percentage of Barclays and "Associates" Control | | 7.12% | | -.--% |
|
|
NOTE: Capital Group manages nine funds that control 28.86%.
Washington Mutual manages a fund that controls 3.40%.
Therefore, the TOP 10 Major Holders control 99.69%, and
Barclays/Associates control 10.52% of Fannie Mae.
Capital Group now controls 73.14%.
© 2008 by Edward Ulysses Cate
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