After a flurry of mortgage refinancing activity added billions to the bottom lines of Wells Fargo (NYSE:WFC) and JPMorgan Chase (NYSE:JPM) in 2012, Bank of America (NYSE:BAC) has begun to ramp up its own mortgage business. In the first quarter of 2013, the bank increased mortgage production by 57% but saw revenue actually fall as margins shrunk.

Is B of A getting to the party too late? In this video, Motley Fool banking analysts David Hanson and Matt Koppenheffer debate whether or not the megabank still has the opportunity to thrive in the mortgage business. 

David Hanson has no position in any stocks mentioned. Matt Koppenheffer owns shares of Bank of America. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.