Latest
By Elijah Brumback / Friday, July 18th, 2014 / Banking & Finance, Top Stories, Tri-County Public Companies / Comments Off on PennyMac counts on family, Countrywide ties
PennyMac, the Moorpark-based firm founded by former top brass at Countrywide Financial Corp., has inked a $550 million loan repurchasing deal with Bank of America. The deal forms a half-billion-dollar pact among three companies that have been intimately connected since shortly after Countrywide, the firm at the heart of the subprime loan meltdown, was Read More →
Latest
By Marlize van Romburgh / Friday, March 21st, 2014 / Banking & Finance, Banking Industry, Real Estate, Top Stories / Comments Off on Cashing out: Bank of America consolidates Simi operations
Bank of America has shed a 1 million-square-foot portfolio of former Countrywide Financial Corp. office buildings for $200 million and plans to consolidate its Simi Valley campus.
Latest
By Staff Report / Wednesday, October 23rd, 2013 / Latest news, Tri-County Public Companies / 1 Comment
[wikichart align=”right” ticker=”NYSE:BAC” showannotations=”true” livequote=”true” startdate=”23-04-2013″ enddate=”23-10-2013″ width=”300″ height=”245″] A fraud verdict against Bank of America and its former Countrywide unit – once a major employer in East Ventura County – has handed the U.S. government a rare victory in a lawsuit that stems from the subprime mortgage meltdown and subsequent financial crisis. A Manhattan Read More →
Latest
By Guest commentary / Friday, August 23rd, 2013 / Op/Eds, Opinion / 1 Comment
By Steven Mintz on August 23, 2013 The crackdown on financial institutions whose disgraceful actions in the subprime mortgage mess triggered the 2008 financial crisis have finally hit Bank of America. On Aug. 6, the Department of Justice and the U.S. Securities and Exchange Commission sued BofA for alleged securities fraud. The DOJ and SEC Read More →
Latest
By Marlize van Romburgh / Friday, November 18th, 2011 / Banking & Finance, Banking Industry, Tri-County Economy / Comments Off on BofA lays off 140 in Conejo Valley
This article is only available to Business Times subscribers Subscribers: LOG IN or REGISTER for complete digital access. Not a Subscriber? SUBSCRIBE for full access to our weekly newspaper, online edition and Book of Lists. Check the STATUS of your Subscription Account.
Latest
By Henry Dubroff / Friday, September 16th, 2011 / Columns, Opinion / Comments Off on World’s worst deal, right in our back yard
Like millions of suffering homeowners who bought at the top, Bank of America now is suffering the extended consequences of the real estate bust.
Latest
By Marlize van Romburgh / Friday, September 9th, 2011 / Banking & Finance, Banking Industry, Technology, Top Stories, Tri-County Economy / 3 Comments
By Stephen Nellis and Marlize van Romburgh on September 9, 2011 Nearly 1,000 jobs are either at risk or being cut in the Tri-Counties in manufacturing, medical device research and finance. On Sept. 1, Bank of America said it planned to sell or shutter its correspondent lending arm, imperiling as many as 700 jobs in Read More →