Bank of America returning to mortgage lending | Bedford NY Real Estate

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Brian Moynihan, CEO of Bank of America, is among the top banks in the country asking Congress to avoid a default in the debt crisis.

Bank of America Corp. is getting ready for a new run in the mortgage lending business after pulling back nearly two years ago, the Wall Street Journal reports.
Bank of America (NYSE: BAC) retreated from home lending in 2010 and 2011 as it worked to raise capital.
But at the time, declining interest rates and federal housing programs were causing a surge in refinancing, helping rival such as Wells Fargo & Co. (NYSE: WFC).
Read more at the Wall Street Journal.


via bizjournals.com

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