"Bank of America, the country’s second-biggest bank, reported Wednesday that mortgage originations jumped over a year ago — up 18 percent to $21 billion. But the mortgage unit still lost money as the bank worked through problem mortgages issued before the crisis.
the latest sign that five years after the housing bubble burst,
mortgages remain thorny for the banking industry. They still drive
revenue, but banks are getting hit with expensive reminders of the risky
mortgage lending of last decade, in the form of lawsuits, foreclosures
and regulatory headaches.
Bank of America’s chief financial
officer said Wednesday he thought the housing market had turned, noting
that home prices are rising more consistently. His statements echoed
what JPMorgan Chase and Wells Fargo, the country’s two largest mortgage
lenders, suggested last week."
Most of the headaches created, the banks created for themselves. Us for example, almost four years and Bank of America still can't answer us. Their only answer send more paper work---someone is getting paid to write these pathetic, idiotic letters.