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BofA quadruples its profit but disappoints investors
Bank of America Corp. quadrupled its first-quarter profit, reducing expenses and loan losses and reporting better brokerage and investment banking results, but continued to be bogged down by its mortgage operations, disappointing investors. Trying to...Tags: Credit Ratings, Finance, Banking, Real Estate, Mortgages
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Letters: Numbers don't tell the full story about fraud
Re "Ex-KPMG accountant is charged," Business, April 12 For the 25 years I ran the California Community Foundation, KPMG was our auditing firm. For 10 of those years, our auditor was Scott London, the former KPMG auditor accused of fraud. I knew London...Tags: Accounting and Auditing, KPMG, Insider Trading, Scott London, Trials
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'Connections' ad campaign will present a humbler Bank of America
Can the ultimate too-big-to-fail bank persuade customers that it is humble? A new Bank of America Corp. ad campaign is taking on that task, with the tag line "Life's Better When We're Connected" replacing “Bank of Opportunity.” “We...
Tags: National Collegiate Athletic Association, Banking, Bank of America Corp., Advertising, Citigroup Incorporated
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Fannie Mae posts record annual profit of $17.2 billion
WASHINGTON — Taxpayer-owned Fannie Mae and Freddie Mac are back in the black, but it's unlikely to keep the nation's housing finance giants from being dismantled. Boosted by the recovery in the housing market, Fannie Mae on Tuesday reported a...
Tags: Companies and Corporations, Banking, U.S. Congress, Real Estate, Earnings Forecasts
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BofA pays $165 million to settle mortgage claims by credit unions
In yet another home lending legal settlement, Bank of America Corp. will pay regulators $165 million related to losses that big credit unions suffered on mortgage-backed securities. The settlement, announced Tuesday, stems from efforts by the National...
Tags: Justice System, Goldman Sachs Group, Inc., Wachovia Corp., Deutsche Bank AG, Bank of America Corp.
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Rescued Fannie Mae posts record profit as housing market rebounds
WASHINGTON -- Bailed-out Fannie Mae on Tuesday reported a record $17.2 billion profit for 2012, driven by the housing-market recovery and a big settlement with Bank of America related to soured mortgages during the subprime boom. The housing finance...
Tags: Freddie Mac, Finance, Banking, Federal Bailout Funds, Mortgages
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'Backward' move can pay off
Like millions of Americans, Bill and Helen Bluett's greatest financial asset is their home, a Spanish-style dwelling just a quarter of a mile from the ocean in San Clemente, Calif. Selling the place and buying a cheaper one elsewhere could have brought...Tags: Homes, Loans, San Clemente (Orange, California), Banking, Bank of America Corp.
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Measuring the safety of reverse loans
With an estimated 77 million Baby Boomers about to hit their golden years, the reverse-mortgage market is heating up. Not necessarily by the senior set, less than 2 percent of whom have decided to turn the equity in their homes into cash by taking out...Tags: Chicago Mortgages, Homes, Washington, DC, Bank of America Corp., Economy, Business and Finance
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Lending giants offer more ways to slam it into reverse
How are Baby Boomers carrying hefty first and second mortgages going to pay them off? Millions of homeowners refinanced in the "refi boom" years of 2003-04, taking out new 15- or 30-year loans. So some Boomers in their late 50s and early 60s have big...Tags: Mergers, Acquisitions and Takeovers, Homes, Chicago Mortgages, Banking, Arizona
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Feds seek last victims of discriminatory lending
INDIANAPOLIS (AP) — Federal authorities are looking for more than 400 African-Americans and Latinos in Indiana who might be eligible to collect part of a $335 million settlement between Countrywide Financial Corp. and the Justice Department. U.S.... -
An opportunity to break free of Ticketmaster
I thought Ticketmaster was the most hated company in America, but it turns out to have had some competition for that title in recent years. It lost last year to AT&T, Bank of America, Walmart and Electronic Arts, the maker of digital games. The...
Tags: Entertainment, EA Tiburon, Banking, Bank of America Corp., Memorial Stadium
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PennyMac, headed by former No. 2 at Countrywide, files for IPO
PennyMac Financial Services Inc., the 5-year-old mortgage company founded by former Countrywide Financial Corp. President Stanford L. Kurland, plans to go public on the New York Stock Exchange. PennyMac, which makes, buys, sells and services...Tags: Freddie Mac, Finance, NYSE Euronext, Inc., Mortgages, Bank of America Corp.
Apr 17, 2013
|Story| Los Angeles Times
Apr 16, 2013
|Story| Los Angeles Times
Apr 5, 2013
|Story| Los Angeles Times
Apr 2, 2013
|Story| Los Angeles Times
Apr 2, 2013
|Story| Los Angeles Times
Apr 2, 2013
|Story| Los Angeles Times
Jul 15, 2007
|Story| Chicago Tribune
Jul 15, 2007
|Story| Chicago Tribune
Jul 15, 2007
|Story| Chicago Tribune
Mar 1, 2013
|Story| AP Broadcast
Feb 25, 2013
|Column| Baltimore Sun
Feb 8, 2013
|Story| Los Angeles Times
Original site for Countrywide Financial Corp. topic gallery.