Blog of Bonnie

Bank of America Drops Countrywide Name
Bank of America, which bought Countrywide Home Loans last year, has officially changed the lender’s name to Bank of America Home Loans.

The name change recognizes the merger of Countrywide and Bank of America’s previously existing mortgage and home equity lending operation.

At the height of the housing boom, Countrywide was the country’s largest mortgage lender and had major involvement in subprime lending.

The name change will coincide with the beginning of what has traditionally been the busiest home buying season. The move comes after the two company merged their back-office operations, says Barbara Desoer, president of Bank of America Home Loans.

Source: The Associated Press, Stephen Bernard (04/27/2009)
Posted by Ralph & Bonnie Mills on April 27th, 2009 1:49 PMPost a Comment (0)

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