Bank of America, Charlotte, N.C., and Countrywide Financial Corp., Calabasas, Calif., are involved in talks about combining forces in mortgages, according to a report by The Financial Times.BoA and Countrywide declined to comment. A few years back, National Mortgage News reported that Countrywide and Bank of America were discussing an outsourcing arrangement whereby Countrywide would originate and service loans for the bank under a "private-label" arrangement. BoA eventually passed on the deal, said an executive familiar with the talks. The Financial Times also reported Friday that the two parties might be engaged in merger talks. One analyst who follows Countrywide said it is more likely that the firms would strike a deal in regard to outsourcing as opposed to a merger.
-
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
July 3 -
The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
July 3 -
The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
July 3