NationsBanc Mortgage Corp. and BankAmerica Mortgage became one mortgage company Thursday as a result of the merger of Bank of America and NationsBank.The new company, Bank of America Mortgage, becomes the nation's top mortgage servicer, with more than 2.7 million households and a servicing portfolio of $250 billion. It originates loans in 35 states and the District of Columbia and via three TeleMortgage Centers. (See the Mortgage Data Charts page for more information on top servicers and originators compiled by the Database Products Group, a MortgageWire affiliate.) Bank of America's website address is http://www.bankamerica.com, and NationsBank's is http://www.nationsbank.com.
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The bipartisan legislation aimed at reducing barriers to new home construction, which included certain community bank riders, passed the lower chamber by a 358-32 vote.
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Tech companies may be the biggest winners of a custodial deposit provision tucked away in a much-touted bipartisan housing bill set to become law this week.
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Affected team members were offered severance, and some have received opportunities to remain with the company, a Pennymac spokesperson said.
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Cybersecurity platforms said infiltrators gained access to terabytes of data with a wealth of personal information, but the lender disputed reported numbers.
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The change aims to address hurdles in the onboarding process, which many have cited as a point of friction in mortgage servicing.
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The latest postponement comes after a UWM filing states that Two Harbors shareholders are rejecting the deal, with 54% voting no as of June 12.
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