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JAN 16, 2013 - Washington Business Journal

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Bank of America returning to mortgage lending

Bank of America Corp. is getting ready for a new run in the mortgage lending business after pulling back nearly two years ago, the Wall Street Journal reports. Bank of America (NYSE: BAC) retreated from home lending in 2010 and 2011 as it worked to raise capital. But at the time, declining interest rates and federal housing programs were causing a surge in refinancing, helping rival such as Wells Fargo & Co. (NYSE: WFC). Read more at the Wall Street Journal.

Tags: Bank of America returning to mortgage lending,  Interest Rates Latest News