Homeownership creates happiness for Americans through an emotional attachment to their property as well as an improved lifestyle, a survey from Bank of America found.

There is no legal basis to force Bank of America to make good on its commitment to provide $150 million in mortgages to beneficiaries of the Department of Hawaiian Home Lands, the state's Attorney General said.

Bank of America is tapping the commercial mortgage-backed securities market to refinance the debt on its namesake Manhattan office building, providing BofA and building co-owner The Durst Company with a hefty cash-equity payout.

The bank is siding with a growing list of groups, including the U.S. trustee, attorneys general from several states and consumers, who object to Ditech's plan to sell its reverse mortgage business.

Bank of America says rate cuts could reinvigorate mortgages and that its digital and cards strategies will help it grab more market share to offset shrinking margins.

The second quarter continues to shape up as a good one for bank mortgage lenders — and one ancillary service provider — that are benefiting from a spike in volume.

Angelo Mozilo had a front-row seat during the collapse in housing prices a decade ago. Now the former chief executive officer of Countrywide Financial Corp. is predicting another drop, and for some homeowners it may be even worse.

The civil rights activist Jesse Jackson is pushing a proposal that the billions banks have paid in fines be given to Americans who lost homes or suffered in other ways during the financial crisis.

Lower interest rates increased Bank of America's first-quarter residential mortgage volume by 21% over the previous year, while home equity dropped by 25%.

Bank of America is setting aim at low- to moderate-income and multicultural homebuyers and communities with the launch of its Neighborhood Solutions affordable homeownership initiative.