$23.5bn
$X.Xbn
0
11,675
$X.Xbn
The Loan Administration, Check Cashing and Other Services industry is highly dependent on the health of the housing market and throughout the current period its continued expansion amid low interest rates and increasing per capita disposable income created demand for industry operators. The servicing operations of the big banks have been increasingly replaced by regional bank servicers as well as nonbanks. Revenue from miscellaneous services within this industry, such as check cashing and money orders, experience competition from online money transfer services.Industry revenue is expected to be sustained from dropping lower from increased residential real estate activity and housing starts through the current period. Industry revenue has been decreasing at an annualized 0.5% over the past five years, including an estimated 1.2% in 2023, and is expected to total $23.5 billion in 2023. In the same year, profit is set to reach 18.7%.Industry revenue is expected to grow at an annualized 1.3% over the next five years, reaching an estimated $25.1 billion in 2028, when profit is projected to climb to 19.3%. The growth in consumer spending and disposable income will sustain lending activity and demand for servicing conducted by industry operators. The Federal Reserve is expected to increase interest rates at least for the beginning of the outlook period. Higher interest rates will weaken demand for debt, but will increase fees for industry operators. A decline in housing starts is expected to limit industry growth in the outlook period.
Industry revenue has declined at a CAGR of 0.5 % over the past five years, to reach an estimated $23.5bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Wells Fargo & Company | 1,287.1 | 238.1 | 18.5 | |
Bank Of America Corporation | 496.0 | 135.6 | 27.3 | |
Jpmorgan Chase & Co | 363.9 | 110.3 | 30.3 |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Loan servicing and administration, Cash handling and management services for businesses and Other. Loan servicing and administration is the largest segment of the Loan Administration, Check Cashing & Other Services in the US.
Loan servicing and administration includes several services
The Loan Administration, Check Cashing and Other Services industry services loans, most notably mortgages. This industry does not originate loans, which includes legally arranging and issuing the loan. Servicing loans includes performing all of the administrative aspects of managing a debt portfolio. Operators also perform money transmission services, which include selling and cashing traveler’s checks, money orders and cashier’s checks, as well as renting safe-deposit boxes.
Purchase this report to view all 4 major companies in this industry.
NAICS 52239 - Loan Administration, Check Cashing & Other Services in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The servicing operations of the big banks have been increasingly replaced by regional bank servicers and nonbanks. This has further fragmented the industry.
Learn about an industry's products and services, markets and trends in international trade.
Most of loan servicing is related to consumer loans, such as residential mortgage loans, home equity loans, vehicle loans and personal lines of credit. The current and schedu...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Loan services tend to follow the spread of the population. This geographic trend is due to operators' heavy reliance on mortgages, requiring them to be situated near populati...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Consumers’ need for local knowledge limits market share concentration. Local recognition benefits smaller, regionally operated loan servicers.
Learn about the performance of the top companies in the industry.
Major companies are adapting to higher interest rates and less liquidity. After nearly 15 years of quantities easing, the Federal Reserve is reducing its balance sheet to hel...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Rising interest rates have dampened demand for mortgage originations as the Federal Reserve combats rampant inflation. Economic uncertainty and fears of a possible recession ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Knowledgeable employees carry a high price tag, putting pressure on brokers to retain their employees. Technically skilled employees can assist in revenue generation as consu...
Including values and annual change:
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Unlock comprehensive answers and precise data upon purchase. View purchase options.
The market size of the Loan Administration, Check Cashing & Other Services in the US industry in United States is $23.5bn in 2024.
There are 11,675 businesses in the Loan Administration, Check Cashing & Other Services in the US industry in United States, which has declined at a CAGR of 2.7 % between 2018 and 2023.
The market size of the Loan Administration, Check Cashing & Other Services in the US industry in United States has been declining at a CAGR of 0.5 % between 2018 and 2023.
Over the next five years, the Loan Administration, Check Cashing & Other Services in the US industry in United States is expected to grow.
The biggest companies operating in the Loan Administration, Check Cashing & Other Services market in United States are Wells Fargo & Company, Bank Of America Corporation and Jpmorgan Chase & Co
Loan servicing (primarily mortgages) and Selling money orders and traveler's checks are part of the Loan Administration, Check Cashing & Other Services in the US industry.
The company holding the most market share in United States is Wells Fargo & Company.
The level of competition is high and steady in the Loan Administration, Check Cashing & Other Services in the US industry in United States.