From Mark Gongloff at the HuffPo:
Once the biggest bank in the country, Bank of America is shrinking before our very eyes.
After more than three years at the top, Bank of America is no longer the nation's biggest mortgage servicer, falling behind Wells Fargo last year, according to industry newsletter Inside Mortgage Finance.
Wells Fargo is now the biggest mortgage servicer in the country, according to IMF, with $1.82 trillion in business, or 17.7 percent of the total market, compared with Bank of America's $1.77 trillion, or 17.2 percent.
To add insult to injury, Bank of America said today it was selling and leasing back three office buildings in New York and its home town of Charlotte....MOREWells also passed BAC in market cap last year:
Jan. 4, 2011
"Bulls and Bears Fight Over Bank of America Option Trades" (BAC)