Bank of America to Sell Correspondent Mortgage Business

By Nothing Here
August 30, 2011 11:58 PM

Symbols: BAC

Posted in: News, Asset Sales, Hot, After-Hours Center

Bank of America (NYSE: BAC) intends to sell its correspondent mortgage business and employees could be notified as soon as Wednesday, according to sources. The unit employs more than 1,000 people.

Bank of America's 24.3% share of the correspondent market is second only to Wells Fargo.

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Bank of America to Sell Correspondent Mortgage Business

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