Bank of America chairman and chief executive Kenneth Lewis said the bank's planned acquisition of Countrywide Financial Corp. "is a go" after Countrywide released earnings Tuesday morning. Speaking at a Citigroup investors conference, Mr. Lewis said Countrywide's fourth-quarter financial results, which revealed higher credit costs and a loss, were in line with Bank of America's due diligence and offering price. "At this point, everything is a go for completing this transaction," Mr. Lewis said. He also said Countrywide's year-end results showed improvement in its underlying mortgage business. BoA can be found on the Web at http://www.bankofamerica.com.
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The company will begin direct-lending operations in its home state of California, before expanding across the U.S. over coming quarters, its executives said.
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Developments at Freddie Mac, Fannie Mae and factory-built housing innovator Boxabl point to some expanded ways to make mortgages or HELOCs.
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President Donald Trump Wednesday signed a continuing resolution to fund the government through December, averting a government shutdown at least until after November's elections.
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The 30-year FRM, as tracked by Freddie Mac, rose to a level last reached in July 2025, helped by the 10-year Treasury briefly topping the 4.8% ceiling.
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Rocket has seen more brokers move from United Wholesale Mortgage to its wholesale channel in the last 90 days than the previous 12 months combined, Chief Revenue Officer Austin Niemiec said.
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The Federal Reserve governor said an upcoming change to the personal consumption expenditures index could show ongoing improvement in prices, building the case for leaving interest rates unchanged.
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