Brian Moynihan: B of A Comfortable with a 10% Market Share in Mortgages
Bank of America CEO Brian Moynihan said Friday he would be comfortable with a 10% market share in mortgages and about five million customers.
Moynihan made his comments on CNBC. According to figures compiled by National Mortgage News and the Quarterly Data Report, B of A currently services $1.46 trillion in residential loans, giving it a market share of 15.5%.
B of A, of course, has been steadily unloading its MSRs the past two years, including the sale of a large package to Fannie Mae.
The bank has roughly 10 million servicing customers, according to NMN/QDR.
It is presently active in just one production channel: retail, having exited the other two.
In trading Friday its stock was at $10.56, toying with a new 52-week high. Its low is $5 per share.