Bank of America
Bank of America
Bank of America Corp is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets.
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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.
April 16 -
The bank says its partnership with Lender Price will help streamline and simplify its home loan process.
April 12 -
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.
April 11 -
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.
April 11 -
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.
February 21 -
Bank of America's mortgage banking business reported a loss for the fourth quarter driven largely by representations and warrants provisions.
January 17 -
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.
December 28 -
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.
December 28 -
Bank of America is exiting the mortgage lien release business by entering into an agreement to sell this unit to First American Financial Corp.
December 11 -
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.
November 3 -
A judge who imposed a $45 million penalty on Bank of America Corp. over a foreclosure on a California couple still isn't ready to forget the case he described as a "Kafkaesque nightmare."
October 19 -
Bank of America set aside $100 million in its reserves for representation and warranty claims ahead of a pending settlement to resolve legacy mortgage issues.
October 13 -
Demand for commercial loans has been weak for much of the past year and among the big questions bank executives will face this earnings season is when they can expect the pace to finally pick up.
October 10 -
Select Portfolio Servicing grew its mortgage servicing rights portfolio by over 14% in the second quarter by targeting opportunities in the nonagency loan market.
October 5 -
A bankruptcy judge who spent 107 pages excoriating Bank of America Corp. over its "heartless" foreclosure on a California couple is not happy that the homeowners want him to erase his words.
October 4 -
Tim Welsh has spent his first two months on the job thinking about how to make U.S. Bank as central to consumers’ lives as Amazon, develop new personal financial management services, and expand into new cities.
September 29 -
Bank of America is laying off an undisclosed number of technology and mortgage workers in Charlotte and elsewhere, the latest cuts this year to employees in such roles.
September 27 -
It’s a very large number for any bank, but Bank of America executives said the move makes good economic sense and promotes relationship-building with customers.
July 21 -
While the courts have affirmed cities’ right to file predatory lending suits, they are also now holding them to a much higher standard in proving that banks knowingly steered minority borrowers into high-cost home loans.
June 14 -
Down payment standards should be relaxed to just 10% to spur homebuying among millennials, Bank of America CEO Brian Moynihan said this week.
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