Bank of America Corp. is nearing a settlement with the Justice Department after raising its proposed offer to resolve probes into its sale of mortgage-backed bonds in the run-up to the financial crisis.
Delinquency rates for commercial mortgage-backed securities improved slightly in July, according to a report released Wednesday by Trepp.
Bank of America Corp.'s Countrywide unit was ordered to pay $1.3 billion in penalties for defective mortgage loans sold to Fannie Mae and Freddie Mac in the run-up to the 2008 financial crisis, a little more than half of what the federal government had requested.
Equifax Inc. has created a new Verification of Hazard Insurance service for mortgage and home equity lenders.
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