The following video is part of our "Motley Fool Conversations" series, in which senior analyst Anand Chokkavelu, CFA, discusses topics around the investing world.
In the first quarter of this year, Wells Fargo's share of new mortgages jumped to 33.9%. It's stunning that one bank made up a third of the market. And it's another reminder of the opportunity strong competitors have in down markets. Wells Fargo is grabbing market share while competitors such as Bank of America and Citigroup focus on slimming down and strengthening their capital positions. Anand weighs in.
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Anand Chokkavelu, CFA owns shares of Bank of America, Citigroup, and Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup, and Wells Fargo and has created a covered strangle position on Wells Fargo. Motley Fool newsletter services recommend Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.