B of A Seeks Buyer For Correspondent Mortgage Unit

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.

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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