While Bank of America's first quarter earnings statement featured positives, including consumer banking, it was still a tough quarter overall for the bank.
Read More »Buyer Behavior—Emotional Factors Drive Purchase Decisions
Bank of America’s first-ever look at homebuying trends has found that more buyers want a home more than they want an investment in property.
Read More »Crisis No Longer Haunts Bank of America
The bank is scheduled to release its Q1 2016 earnings statement on April 14.
Read More »Is Bank of America’s New Mortgage Program a Substitute for FHA Lending?
Bank of America's Affordable Loan Solution program provides an alternative for low-income borrower but despite being an innovative solution to market demand, industry analysts feel it does not provide enough competition to substitute the FHA completely.
Read More »Banks Come Out Winners in RMBS Case
For the most part, when being investigated over their pre-crisis residential mortgage-backed securities practices, the nation’s largest banks have come out having to pay billions of dollars in settlements and penalties.
Read More »Judge to Bank of America: Hold Off Paying Investors in RMBS Settlement
Investors who are waiting to receive the payouts from Bank of America's $8.5 billion mortgage-backed securities settlement will have to wait a little longer.
Read More »With Settlements Behind Them, Morgan Stanley and Bank of America Post Solid 2015 Results
No more burdened by legal expenses that plagued them in 2014, both Morgan Stanley and Bank of America saw major year-over-year boosts in net income.
Read More »Bank of America’s Revised Capital Plan Earns Fed’s Approval
The Fed required Bank of America to submit a revised capital plan due to certain weaknesses in the bank's capital planning process the Fed located in its annual Comprehensive Capital Analysis and Review (CCAR) stress test conducted in early March.
Read More »Bank of America is Well Ahead of Pace to Fulfill Settlement Obligation
The majority of the amount credited in the second quarter ($1.7 billion) went to modification of 9,671 loans. Another $186 million of the amount credited in Q2 went to extend 16,231 new home loans to borrowers in HUD-designated hardest-hit areas, borrowers who lost their homes to short sales or foreclosures, and low- and moderate-income borrowers.
Read More »Bank of America Agrees to $335 Million Settlement Involving RMBS
According to the bank’s quarterly filing with the Securities and Exchange Commission, the bank has agreed to pay $335 million to settle a federal lawsuit that claims the bank misled shareholders as to the quality of certain mortgage-backed securities sold to investors immediately following the crisis.
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