Bank of America funded $72 billion of home mortgages during the third quarter, a slight decline from 2Q, the company reported Thursday.
Its residential volume includes nearly $16.2 billion of loans made to low and moderate-income borrowers.
The megabank – which recently exited the wholesale channel -- also funded $2 billion of home equity loans, and $11 billion in commercial real estate. (Its commercial RE volume includes $917 million of "green" related transactions.)
Among all residential lenders, Bank of America Home Loans ranked second in 3Q, according to preliminary survey figures, compiled by National Mortgage News. (Wells Fargo & Co. ranked first.)
That bank said it completed 50,000 loan modifications during the third quarter. Since January 2008, it has assisted 700,000 customers (including Countrywide Financial Corp. borrowers) with a completed home loan modification.
