The Consumer Financial Protection Bureau (CFPB) has announced it is ordering Bank of America (NYSE:BAC) to pay a $12 million penalty for running afoul of the Home Mortgage Disclosure Act (HMDA) by submitting false mortgage […]
Top-20 U.S. mortgage lender Bank of America (BofA) reported declining mortgage and home equity production in the third quarter of 2023, compared to the previous quarter. And more declines are yet to come if regulators’ proposed capital […]
Bank of America (BofA) prevailed in a court case brought against it by Cook County, Illinois, which sued the bank alleging predatory mortgage loans to Black and Hispanic borrowers in the Chicago area. The news […]
Bank of America (BAC) reported double-digit growth in revenue and net income in the second quarter on Tuesday, as higher interest rates boosted income it generated from lending money. Why Does This Matter? Monetary policy tightening by […]
Bank of America (BofA), a top-20 U.S. mortgage lender, reported on Tuesday significant improvements to its home loan business in the second quarter of 2023, just as competitors JPMorgan Chase and Wells Fargo did late last week. But executives at […]
New YorkCNN — US inflation could hit the Federal Reserve’s 2% target in 2025, Bank of America CEO Brian Moynihan told CNN in an exclusive interview Tuesday. “We think it will take [Fed officials] all of […]
Higher interest rates pushed up profits for Bank of America (BofA) in the first quarter of 2023, but much like its depository peers, JP Morgan Chase and Wells Fargo, the mortgage business dropped by double-digits […]
Pennymac Financial Services named longtime industry veteran Jerry Halbrook as its new chief mortgage innovation officer. Halbrook, who announced his new position via LinkedIn on Monday, brings more than 25 years of experience in mortgages. […]
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