In a discussion with MReport, Bank of America's Terry Francisco explains how the financial institution is opening up new homeownership opportunities for responsible consumers.
Read More »Bank of America, Morgan Stanley Report Strong 2015 Earnings
With multi-billion dollar mortgage-backed securities settlements mostly in the rear view mirror, Bank of America and Morgan Stanley both posted solid results in their respective Q4 and full year 2015 earnings statements released on Tuesday
Read More »Bank of America and PHH Renew Mortgage Agreement
Bank of America will continuing outsourcing origination services through PHH Corp., to its Merrill Lynch clients.
Read More »Here’s What’s in Store for the Mortgage Market in 2016
Although the housing market is expected to see slower growth in 2016, the industry is expected to continue on the path to recovery as the market expands and more households are formed.
Read More »Wells Fargo and BofA Report Strong Q3 Financial Results
Wells Fargo and Bank of America posted strong 2015 third quarter financial results, with net incomes reaching $5.8 billion and $4.5 billion, respectively.
Read More »Wells Fargo, BofA, & Citigroup Predatory Mortgage Lending Lawsuits Revived
The 11th U.S. Circuit Court of Appeals recently revived three lawsuits the were brought about by the City of Miami, accusing Wells Fargo & Co, Bank of America Corp., and Citigroup of discriminatory and predatory mortgage lending practices to minority borrowers.
Read More »Bank of America Credited with $1.19 Billion Toward Settlement Agreement
Bank of America has been credited with approximately $1.19 billion toward the $7 billion (17 percent) in consumer relief the bank agreed to provide as part of the August 2014 settlement with the Department of Justice over the selling of toxic mortgage-backed securities, according to Independent monitor Eric Green.
Read More »Opposition Filed to BofA’s Appeal to Dismiss $1.27 Billion Mortgage Fraud Verdict
The U.S. government has filed an opposition to Bank of America's appeal to dismiss a $1.27 billion penalty in a mortgage fraud case, according to media reports. Bank of America was ordered to pay a $1.27 billion civil penalty by Judge Jed Rakoff of the U.S. District Court of the Southern District of New York in July 2014 as a result of the bank's alleged role in selling toxic mortgage-backed securities to Fannie Mae andFreddie Mac before the crisis.
Read More »Bank of America More Than Doubles its Q2 Net Income; U.S. Bank & PNC Profitable
Bank of America reported a net income of $5.3 billion for Q2, more than twice the bank's net income from the same quarter in 2014, according to the bank's Q2 2015 earning statement released Tuesday. U.S. Bancorp and PNC also posted solid growth in Q2 with net incomes of $1.48 billion and $1.0 billion, respectively, Tuesday in their earnings statements.
Read More »Lawsuits Against U.S. Bancorp and Bank of America Dismissed
A federal judge dismissed claims in lawsuits against U.S. Bancorp and Bank of America accusing the two banks of failing in their duties as trustees for residential mortgage-backed securities that were allegedly found to have defects after they were sold, causing billions of dollars in losses to investors.
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