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Brian Moynihan: B of A Comfortable with a 10% Market Share in Mortgages

DEC 14, 2012 10:17am ET
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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.

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