Reported about 11 hours ago
Bank of America Corp. has reached an agreement to purchase a $9 billion portfolio of jumbo residential mortgage loans from Toronto-Dominion Bank. This move comes as TD seeks to comply with a regulatory cap on its assets, following a guilty plea related to money laundering issues. Although negotiations are ongoing, this sale could potentially reshape Bank of America's lending strategy, especially as regulatory pressures on mortgage lending may be easing.
Source: YAHOO