Wells Fargo's CEO On Taking Market Share, Repurchase Risk

It pays to listen to your quarterly conference calls. When Wells Fargo (NYSE: WFC) held its fourth-quarter presentation on Wednesday, CEO John Stumpf offered two golden pieces of news to his patient followers.
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Top Mortgage Servicers

Expanding the Wells Fargo Moat:

Oct 7 (Reuters)

 Below are the largest U.S. mortgage servicers, which
collect mortgage payments and foreclose on delinquent loans, as
of June 30, 2010.

 Bank                           Total Loans         Market

                                Servicing now       Share

                                in $billions
1) Bank of America (BAC.N)       $2,135.30          19.9%
2) Wells Fargo (WFC.N)            $1,811.97          16.9%
3) JPMorgan Chase & Co (JPM.N)    $1,353.60          12.6%
4) Citigroup Inc (C.N)            $677.81             6.3%
5) GMAC/Ally Financial           $349.08             3.2%
6) US Bancorp (USB.N)             $189.85             1.8%
7) SunTrust Banks Inc (STI.N)     $175.93             1.6%
8) PHH Mortgage (PHH.N)           $155.97             1.4%
9) OneWest Bank, CA (IndyMac)     $155.00             1.4%
10)PNC Financial Services (PNC.N) $149.94             1.4%
Total residential mortgages outstanding             $10,640

 ($ billions, for 1-4 family homes)

 Source: Inside Mortgage Finance