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United States Loan Servicing Market Size, Share, Analysis: By Loan Type: Business Loans, Mortgage Loans, Personal Loans, Auto Loans, Others; By End Use: Banks, Credit Unions, Money Lenders and Brokers, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
United States Loan Servicing Market Size
The United States loan servicing market reached USD 793.00 million in 2023. The market is projected to grow at a CAGR of 11.5% between 2024 and 2032, reaching almost USD 2,140.65 million by 2032.
United States Loan Servicing Market Outlook
- Mortgage loans are expected to constitute a major portion of the United States loan servicing market share.
- The increasing use of advanced lending systems, which can enable banks to meet stringent regulations, is expected to drive the market growth.
- Mobile apps and self-service portals are becoming some of the most popular choices for making loan payments among consumers.
United States Loan Servicing Market Growth
The increasing preference for online loan payments has emerged as one of the key market trends. This is because they provide greater convenience and flexibility to customers, especially the growing number of millennials in the USA.
Debit cards are expected to become an increasingly popular mode of payment among consumers. As banking institutions adopt personalised messaging strategies for engaging consumers digitally, the incidence of default rates can be minimised. The option of making recurring loan payments is also becoming popular as it enables consumers to make timely payments, which improves their credit scores.
Loan servicing software has emerged as a popular solution for streamlining operations and automating repetitive tasks in financial institutions. Loan servicing software can automate various services, including payment processing and borrower communication and minimise the cost of staffing, training, and maintaining technological infrastructure for loan payments. It is very flexible and can quickly adapt to changing business needs.
The use of data analytics tools for predicting default rates and enhancing portfolio management strategies is expected to aid the market development over the forecast period.
United States Loan Servicing Industry Segmentation
United States Loan Servicing Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Loan Type
- Business Loans
- Mortgage Loans
- Personal Loans
- Auto Loans
- Others
Market Breakup by End Use
- Banks
- Credit Unions
- Money Lenders and Brokers
- Others
Market Breakup by Region
- New England
- Mideast
- Great Lakes
- Plains
- Southeast
- Southwest
- Rocky Mountain
- Far West
United States Loan Servicing Market Share
Based on loan type, mortgage loan is expected to account for a substantial market share in the coming years. This can be attributed to the growing US housing market, the rise in mortgage rates, and healthy economic growth in the United States. Mortgage loan servicing is witnessing a renaissance, driven by evolving customer expectations, the adoption of centralised technology platforms by key players, and technological advancements.
Leading Companies in the United States Loan Servicing Market
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.
- Fiserv, Inc.
- Nortridge Software, LLC
- Shaw Systems Associates, LLC
- Constellation Mortgage Solutions Inc.
- FICS
- Others
The market participants are adopting advanced cybersecurity measures and technologies to comply with evolving privacy and data protection regulations, prevent fraud, and protect sensitive borrower information.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Loan Type |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Loan Servicing Market Overview
8.1 Key Industry Highlights
8.2 North America Loan Servicing Historical Market (2018-2023)
8.3 North America Loan Servicing Market Forecast (2024-2032)
8.4 North America Loan Servicing Market Breakup by Country
8.4.1 United States
8.4.2 Canada
9 United States Loan Servicing Market Overview
9.1 Key Industry Highlights
9.2 United States Loan Servicing Historical Market (2018-2023)
9.3 United States Loan Servicing Market Forecast (2024-2032)
10 United States Loan Servicing Market by Loan Type
10.1 Business Loans
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Mortgage Loans
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Personal Loans
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Auto Loans
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 United States Loan Servicing Market by End Use
11.1 Banks
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Credit Unions
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Money Lenders and Brokers
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 United States Loan Servicing Market by Region
12.1 New England
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Mideast
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Great Lakes
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Plains
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Southeast
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Southwest
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Rocky Mountain
12.7.1 Historical Trend (2018-2023)
12.7.2 Forecast Trend (2024-2032)
12.8 Far West
12.8.1 Historical Trend (2018-2023)
12.8.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Fiserv, Inc.
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Nortridge Software, LLC
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Shaw Systems Associates, LLC
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Constellation Mortgage Solutions Inc.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 FICS
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Loan Servicing Market: Key Industry Highlights, 2018 and 2032
2. United States Loan Servicing Market: Key Industry Highlights, 2018 and 2032
3. United States Loan Servicing Historical Market: Breakup by Loan Type (USD Million), 2018-2023
4. United States Loan Servicing Market Forecast: Breakup by Loan Type (USD Million), 2024-2032
5. United States Loan Servicing Historical Market: Breakup by End Use (USD Million), 2018-2023
6. United States Loan Servicing Market Forecast: Breakup by End Use (USD Million), 2024-2032
7. United States Loan Servicing Historical Market: Breakup by Region (USD Million), 2018-2023
8. United States Loan Servicing Market Forecast: Breakup by Region (USD Million), 2024-2032
9. United States Loan Servicing Market Structure
Key Questions Answered in the Report
The market was valued at nearly USD 793.00 million in 2023.
The market is projected to grow at a CAGR of 11.5% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 2,140.65 million in 2032.
The different loan types in the market include business loans, mortgage loans, personal loans, and auto loans, among others.
The different end uses of loan servicing are banks, credit unions, and money lenders and brokers, among others.
The major regions in the market include New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
The key market players are Fiserv, Inc., Nortridge Software, LLC, Shaw Systems Associates, LLC, Constellation Mortgage Solutions Inc., and FICS, among others.
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