Bloomberg is reporting that Bank of America’s backlog of pending demands for refunds on soured loans reached a record $16.1 billion as a dispute deepened between the second-largest U.S. lender and Fannie Mae.
According to Bloomberg, outstanding claims rose 28% in the first quarter from $12.6 billion in the last three months of 2011, the bank told investors. Bloomberg noted that at the same time, the company set aside less than $300 million to cover repurchases for a third straight quarter, helping the mortgage unit post a narrower first-quarter loss.
To read the full Bloomberg story click here.
No tags available
A theme of uncertainty has dominated just about everything in 2016, and business aviation is no exception. While the National Business Aviation Association (NBAA) — an organization for companies that rely on general aviation aircraft to help make their businesses... read more
This has been a good year for Ascentium Capital. It was ranked the third-largest equipment finance company in the 2016 Monitor Top Private Independents ranking and celebrated its five-year anniversary later in the summer. Stable growth led Ascentium to those... read more