On the subprime mortgage crisis front, Bank of America has announced a deal where they will buy the troubled Countrywide Financial for $4.1 billion dollars. This will make Bank of America the nations largest mortgage lender and will provide much needed relief to the largest independent mortgage banker. While this acquisition is a major step in solving the mortgage meltdown, sub prime,more failures and acquisitions are anticipated in the coming months.

http://www.msnbc.msn.com/id/22606833

Posted in Headlines, Mortgage, Real Estate Market Conditions

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