Bank of America Corp. maintained its perch as the nation's largest residential loan servicer in the second quarter, but its portfolio declined by 2% from the first quarter, a sign that the refinancing boom could be weakening its ability to recapture its own customers.
Survey figures collected by National Mortgage News ranked B of A first at June 30, with $2.062 trillion in housing receivables.
Compared to the year earlier B of A's home loan portfolio grew 281%, but most of this growth was due to its purchase of Countrywide Financial Corp., a deal that closed on July 1, 2008.
The survey also found that B of A's market share fell slightly, as did the shares for Wells Fargo & Co. and JPMorgan Chase & Co., the nation's No. 2 and No. 3 servicers, respectively.
Wells' servicing portfolio grew slightly from the first quarter, but JPMorgan Chase's shrank.
