B of A Seeks Buyer For Correspondent Mortgage Unit

Bank of America is said to be looking to get out of the correspondent-mortgage business as it no longer fits into the bank’s long-term strategy.

  • 31 Aug 2011
Bank of America is said to be looking to get out of the correspondent-mortgage business as it no longer fits into the bank’s long-term strategy. More than 1,000 employees could lose their jobs if the unit is closed. It accounted for 47% of the bank’s mortgage originations in ...

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1 Citi 3,691 11 20.70
2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.78

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