Bank of America to Sell Correspondent Mortgage Business

by Benzinga Staff

August 30, 2011 11:58 PM | 15 seconds read | Make a Comment

Bank of America

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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