Rick Sharga: Is this the end of the housing recovery?

Rick Sharga: Is this the end of the housing recovery?

Maybe it wasn’t the snow after all

Stewart Information Services 1Q earnings suffer from mortgage reductions

Posts net loss of $12.1 million

New home sales plummet 14.5% in March

Spring buying season off with a whimper
Lending / The Ticker

BofA rebuilds home lending business

/ Print / Reprints /
| Share More
/ Text Size+

(). (BAC) yesterday struck deals to settle lending (), sell rights to service $300 billion of mortgages and repair relations with regulators. For Chief Executive Officer Brian T. Moynihan, it offers his best chance to rebuild the home lending business.

The firm reached an $11.7 billion agreement designed to resolve most disputes with Fannie Mae two years after Moynihan said the bank “largely addressed” the liabilities. It sold the rights to service about 2 million mortgages, and with 9 other banks, will pay $8.5 billion to end reviews of foreclosure-abuse claims stemming from a 2011 deal with regulators.

Source: Bloomberg
Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus