Chart: How Wells Fargo & Company (WFC) Puts B of A and Other Banks to Shame

The bank’s purported strategy has been to focus on its core customer base — that is, the millions of people that it already does business with. According to a press release announcing its decision to exit correspondent lending: “Consistent with other recent decisions in the Home Loans business — our exit from the wholesale lending and reverse mortgage businesses, and selling Balboa Insurance — we are strengthening our focus on serving the needs of the bank’s 58 million households and supporting growth across the franchise.”

On the other hand, Wells Fargo has used the opportunity to strike. According to its most recent conference call, it now services a staggering one in three mortgages across the country and is growing its share of its customers’ wallets on a consistent and quarterly basis.

So what’s the moral of this story? To get back to the Journal article that prompted me to write this, while it may be true that the overall market share of the largest lenders in the country hasn’t changed, one lender has emerged as the undisputed leader of the pack, while others have been left behind.

The article Chart: How Wells Fargo Puts B of A and Other Banks to Shame originally appeared on Fool.com and is written by John Maxfield.

Fool contributor John Maxfield owns shares of Bank of America. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo.

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