Tag:
mortgages
Latest Headlines
Latest Headlines
Wells Fargo overtakes Bank of America in mortgage servicing
We noted recently that Bank of America’s market share of residential mortgage originations had slipped, which helped Wells Fargo make some huge gains and overtake the top spot.
Now comes word from Inside Mortgage Finance that Bank of America has also lost the title of biggest mortgage serv
Bank of America’s share of mortgage market falls
We noted recently that Bank of America seems to be shrinking its footprint in the national mortgage market.
If you take into account correspondent lending, which the bank has exited, the numbers continue to be eye-catching. As noted by Bloomberg , FBR analysts report that Bank of America’s
Efforts to reduce bad mortgages pays off
In a tough financial time, all the big residential mortgage banks were forced to staff up--either by hiring new employees or retraining existing employees--in order to handle the waves of bad mortgages.
Reuters notes that JPMorgan nearly tripled its staff over three years to 20,000 people
Mortgage settlement discussions drag on
Will we ever get a mortgage settlement?
Once again the folks negotiating a multi-billion dollar legal settlement with top banks and mortgage servicers are waxing optimistic about the likelihood of a deal. A group of states attorney generals met in Chicago to hash out the latest offer on the ta
Bank of America still pondering Countrywide bankruptcy
In the latter half of 2011, the idea that Bank of America would push its disastrous Countrywide unit into bankruptcy court gained popularity.
At various points, it seemed quite possible. Indeed, as the Financial Times reports, Bank of America CEO Brian Moynihan went so far as to retain law
MBS fallout could hit Wells Fargo, JPMorgan
Recall the controversial $8.5 billion settlement between Bank of America and a group of investors--including the likes of PIMCO, Blackrock, the Federal Reserve Bank of New York and other big names--was initially hailed as a huge victory for Bank of America.
But the fallout was swift. Other inv
Bank of America balks at new Fannie requests
A new dispute has broken out pitting Fannie Mae against Bank of America, suggesting that even when disputes appear to be resolved they can easily be revived as the mortgage malaise continues to dog banks.
Bloomberg reports that Bank of America "is disputing Fannie Mae's demand that lenders
Bank of America: Small customers don't contribute to bottom line
There was a day when Bank of America prided itself on being a massive consumer bank. It truly was the bank of America.
But CEO Brian Moynihan was pretty frank at a recent conference about something we all knew: Many of the bank's smallest-account customers no longer contribute to the bottom li
Legal liability mounting for top banks
The legal liability of the top 17 banks went up measurably when the Federal Housing Finance Authority, created to oversee the big GSEs, sued in September, accusing the banks of misrepresenting the quality of billions of dollars worth of consumer mortgages.
We're starting to get a glimpse of j
Other banks aim to gain on struggling Bank of America
Once the on-going bank industry turmoil ends, who will be in the driver's seat in the consumer mortgage market?
The hope among many banks is that Bank of America will be so weakened that a massive opportunity will emerge for the many other banks that weren't hit nearly as hard. Wells Fargo, fo
