Millennials are targeting homeownership within the next few years, but many are buying into certain house-purchasing myths, according to Bank of America.

Consumer demand for “ease of information and ease of interaction” is driving the digital mortgage era, says John Schleck, senior vice president at Bank of America.

Bank of America is taking what consumers are accustomed to on the banking side and applying that to its lending division to offer a consistent digital experience, says John Schleck, the bank’s senior vice president.

The bank pared down its application to 50 questions and allows customers to do the easy work before turning it to the loan officer.

The migration to digital may change the way loan officers work, but it won't make them less essential: BofA Consumer Lending SVP John Schleck.

Signals are flashing red in the structured credit market, according to Bank of America.

Bank of America's residential mortgage origination volume fell short of last year's in its second-quarter earnings despite gains from digital sales and seasonal home buying, and broader consumer lending strength.

Bank of America allows foreclosed houses in black and Hispanic neighborhoods to fall into disrepair even as it studiously maintains bank-owned homes in white areas, housing activists allege.

Lori and Dwayne Bell of Derby, N.Y., have been scared out of their minds for almost 10 years.

Lending, especially in some consumer segments, increased at Bank of America in the first quarter, and CEO Brian Moynihan expects that to continue this year. However, for market watchers skeptical about the industry's growth prospects, BofA's numbers may do little to change their minds.

One measure of how much things have changed in the last decade at Bank of America: The firm has stopped reporting fees from its mortgage business.

The bank says its partnership with Lender Price will help streamline and simplify its home loan process.

While the mortgage industry heads in a digital direction, homebuyers are still expecting a more electronic experience during the mortgage process, which would also stand to benefit lenders.

Applications can now be made on the bank's app or website, but closings will still be in person. With this move, BofA joins Quicken Loans, Lenda, SoFi and others offering a mostly digital mortgage. The trend is sure to continue.

The Puerto Rico-based bank failed in 2015. The FDIC, its receiver, is seeking unspecified economic and punitive damages from 16 lenders, including Bank of America, Barclays and Credit Suisse.

Bank of America's mortgage banking business reported a loss for the fourth quarter driven largely by representations and warrants provisions.

They aren't creating new products, but some lenders are advising cash-strapped customers in high-tax states to tap home equity or other credit lines to prepay property taxes before the new tax law kicks in.

Billionaire Dan Gilbert's Quicken Loans Inc. outgrew almost every U.S. mortgage provider by unfurling technology like its online Rocket Mortgage platform faster than big banks.

Bank of America is exiting the mortgage lien release business by entering into an agreement to sell this unit to First American Financial Corp.

Mid America Mortgage will sponsor the Richard Petty Motorsports No. 43 NASCAR team to promote the speed of Click n' Close, its new digital mortgage rival to Quicken Loans' Rocket Mortgage.