Bank of America is getting out of the wholesale mortgage business as it looks to put more resources into its direct-to-consumer retail mortgage channel, the largest U.S. bank announced Tuesday.
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Several big banks have admitted that their employees routinely sign scads of foreclosure documents without verifying their information. Wells Fargo and CitiMortgage have denied engaging in similar practices. Yet new evidence sh…
Bank of America Corp. will delay foreclosures on properties in 23 states to review whether its employees signed off on foreclosure documents without reading them, making the largest U.S. bank at least the third in recent weeks …
Home prices in 20 major U.S. cities rose a better than expected 0.6% in July compared to June, according to the S&P/Case-Shiller Home Price survey. However, year-over-year gains slowed, suggesting a slowdown in the nation’s eco…
The mortgage-backed securities meltdown whose effects still haunt our economy sprang from a simple cause: The rules of the game gave big incentives to every player involved to ignore the problems and keep collecting their fees….