Relevant:
- BofA Reports Loss on Costs Tied to Bad Loans, Mortgage Unit
- Fannie Mae Didn't Overpay BofA for Servicing Rights, Audit Finds
- FDIC to Sell Servicing Rights on $1 Billion of Mortgages
- Fortress sets $3 billion purchase of Ally assets, ResCap
- BofA's Moynihan `Surprised' by New York Fed Loan Putback Demand
2013-01-07 — bloomberg.com
Bank of America executives have said since at least July 2011 that they will trim mortgage servicing rights and other assets considered risky by regulators. Chief Executive Officer Brian T. Moynihan, seeking to cut costs tied to soured loans, said in November he wanted to shrink the servicing portfolio to about 6 million loans from a peak of about 12 million.
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