Here’s why the FHFA is not a fan of principal reduction

Before you judge Dodd-Frank...

Urban Institute: "Can we really calculate the cost?"

Goldman Sachs: When will our kids move out?

Nearly half of California millennials still with parents

Items Tagged with 'Bank of America'


Bank of America Merrill Lynch concludes Dodd-Frank killed housing

Not coming back to life soon, either
July 25, 2014
“In testimony to Congress on QRM, Mr. Frank noted changing the US residential mortgage market was foremost among the very purpose of the statute,” said analysts Flanagan and Katz. And change that market it did — by sucking the life out of it.
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BofA’s $30B litigation problem is getting worse

Mortgage banking tanks as BAC fails to limit litigation costs
July 16, 2014
Bank of America’s mortgage-related litigation costs are something the banking giant wants to put behind it, but good luck with that, because it’s only going to get worse before it gets better.
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Bank of America beats estimates with $12.96B in revenue

Mortgage banking drives down income, drives up litigation expenses
July 16, 2014
Mortgage banking activity declines and mortgage-related litigation expenses drag on BAC but the banking giant beats expectations in the second quarter despite big losses.
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PennyMac enters into repurchase facility with Bank of America

Will help fund newly originated mortgages
July 14, 2014
The $550 million facility sells the mortgages to BofA, for PennyMac to potentially later repurchase, in a deal fully guaranteed by PennyMac.
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Holder refuses to meet with BofA CEO

BofA attempts to create MBS deal
July 10, 2014
U.S. Attorney General Eric Holder refused to meet with Bank of America CEO Brian Moynihan to work out a multibillion-dollar deal to resolve faulty mortgage securities sold in the past.
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Morgan Stanley surprised by reported Citi settlement size

Represents high proportion of bond issuance
July 9, 2014
According to Morgan Stanley analysts Betsy Graseck and Manan Gosalia, even a $7 billion settlement may be too dire, when compared to the recent JPMorgan settlement.
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Bank of America slashes mortgage servicing jobs

Cuts 540 employees
June 25, 2014
Bank of America is drastically cutting back in its mortgage servicing division, known as Legacy Asset Servicing. And the layoffs don’t end in Charlotte.
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Bank of America expands reward program

Program includes lower mortgage rate deals
June 23, 2014
Bank of America expanded its rewards program to include more existing customers, changing the previous threshold minimum of $50,000 in deposits and investments to $20,000.
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Monday Morning Cup of Coffee: Homeownership rate headed to historic lows?

More racial discussion in housing
June 22, 2014
BofAML analysts suggest that the "scars" of the housing crisis may drive homeownership rates down to levels not seen in 40-50 years. Plus other interesting notes that crossed HousingWire's news desk over the weekend.
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BofA pushes for meeting with Eric Holder

Bank attempts to resolve mortgage lawsuit
June 20, 2014
Bank of America is trying a different tactic to resolve its mortgage lawsuits and asked U.S. Attorney General Eric Holder to meet with its CEO Brian Moynihan to resolve a possible multibillion-dollar settlement.
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