ZURICH/LONDON (Reuters) - Bank of America Merrill Lynch has put its wealth management units outside the United States up for sale, three sources familiar with the situation said, hoping to bring in up to $3 billion for the sub-scale business. Bank of America is the world's largest wealth manager, but its non-U.S. arm -- which two of the sources said manages some $90 billion for rich clients .
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Exclusive: Bank of America puts non-U.S. wealth arm up for sale
Posted by mortgage 34 days ago (Editorial)
Key Mortgage Terms: ARM, Closing Costs, Short Sale
Posted by mortgage 75 days ago (Editorial)
A mortgage is a reality that every prospective homeowner has to deal with before he or she can set up the white picket fence. Here are some key terms to help you understand different financing and foreclosure options, as well as what fees you will face before you close on your house.
HSH.com Weekly Mortgage Rate Radar: ARM Rates Reach New Low
Posted by mortgage 96 days ago (Editorial)
HSH.com releases its latest Weekly Mortgage Rate Radar showing a mixed bag for mortgage rates from the previous week. The Weekly Mortgage Rate Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM). Average rates rose for fixed-rate mortgages but ...
Mortgage Q&A: Plan to move makes ARM good option
Posted by mortgage 138 days ago (Editorial)
I have a client who refinanced his jumbo loan with me about 1
Who should refinance into an ARM?
Posted by mortgage 189 days ago (Editorial)
Low mortgage rates have many homeowners rushing to refinance, and the vast majority of those borrowers opt for fixed-rate home loans. Yet for some homeowners, an adjustable-rate mortgage can be a financially savvy choice when they refinance.
Why You Should Get An ARM
Posted by mortgage 227 days ago (Editorial)
During the subprime lending boom adjustable rate mortgages got a bad name, and rightly so. Borrowers bought houses they couldn't remotely afford using exploding ARMs--a 2% teaser rate could jump to 8% within two years, even if market interest rates didn't change.
With Record Low Rates, Who Wants an ARM?
Posted by mortgage 253 days ago (Editorial)
BOSTON (MainStreet) -- Mortgage rates continue to be at historic lows, begging the question: Why would anyone still get an Adjustable Rate Mortgage? With rates about as low as they could possibly be and nowhere to go but up, where's the upside and logic to financing property using one? With mortgage rates at an all-time low, who is still seeking out adjustable-rate loans? On Thursday, Freddie ...
BofA to sell or close another mortgage arm, putting jobs at risk
Posted by mortgage 264 days ago (Editorial)
Bank of America to shed mortgage arm: Bank of America Corp. has put another giant piece of the Countrywide mortgage empire on the auction block -- the correspondent lending arm, which buys closed home loans from mortgage bankers, commercial banks and other loan originators.
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