Barbara Desoer News
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Wells Fargo & Co., the biggest U.S. home lender, may earn higher profits in the U.S. mortgage market as rivals flee from angry homeowners, more powerful regulators and billions of dollars in losses.
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Every Friday afternoon, Barbara Desoer , president of Bank of America Corp.’s home loan unit, sits down alone to listen to another 20 telephone recordings.
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Bank of America Corp. ’s head of home lending said outside estimates of costs stemming from delays in foreclosures are “grossly distorted.”
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Bank of America Corp., the largest U.S. lender, plans to sell or shut its correspondent-mortgage unit as Chief Executive Officer Brian T. Moynihan seeks to stop losses on home loans.
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Bank of America Corp. , the second- largest U.S. home lender, added 2,000 employees since April to work with borrowers having trouble paying their mortgages, a senior executive said.
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Bank of America Corp. and JPMorgan Chase & Co. must balance the interests of homeowners and investors in handling foreclosures, executives from both companies told lawmakers at a U.S. Senate hearing.
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Flaws in Bank of America Corp.’s foreclosure paperwork haven’t caused the bank to seize any homes improperly, the president of the company’s home-loan division said in testimony prepared for Congress today.
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The following are the day's top business stories:
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Bank of America Corp. ’s Terry Laughlin , head of a new unit managing foreclosures and soured loans, faces increasing pressure from bond buyers and regulators seeking payback for the firm’s role in the housing collapse.
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OneWest Bank Chief Executive Officer Terry Laughlin is stepping down to join Bank of America Corp. , where he’ll be reunited with CEO Brian T. Moynihan and replace mortgage executive Jack Schakett .
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