Posts Tagged “Powerhouse”

News Sources wrote an interesting post today on
Here’s a quick excerpt
Wells Fargo, which devoured former Charlotte corpo-powerhouse Wachovia, is being sued by the city of Baltimore for racist loan policies that have, according to the city, caused hundreds of foreclosures and cost the area tens of millions of dollars in taxes and city services. According to the New York Times , a group of Wells Fargo loan officers say they were told to engage in “reverse redlining,” in which they systematically picked out blacks in Baltimore and its suburbs for high-interest sub

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News Sources wrote an interesting post today on
Here’s a quick excerpt
In reporting a $4.2-billion first-quarter profit this morning, Bank of America Corp. said it lost about half a billion dollars on its home-loan and insurance business. B of A funded about $85 billion in first mortgages during the quarter — about three-quarters of which were refis. The North Carolina bank has absorbed plenty of criticism over its purchase of No. 1 mortgage lender Countrywide Financial of Calabasas and brokerage powerhouse Merrill Lynch Co., both of which nearly collapsed fro

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