Friday, October 3, 2008

Bank of America Dominates Riverside Conventional Mortgage Market

Bank of America along with their recent acquisition Countrywide, have a combined market share exceeding 23 percent in Riverside County, California. For conventional mortgages the number of new originations during 2008 has been declining for all lenders in Riverside including Bank of America.. Even with the steady decline in new conventional originations, Bank of America and Countrywide combined have grown their market share during the year making them a dominant force in the market. Bank of America combined with Countrywide has also grown their number of mortgages and market share with FHA mortgages.

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