Thursday, January 17, 2013 2:52 pm
News Summary: BofA bulking up mortgage muscle
By The Associated Press
LEND AN EAR: That's a change, in some respects, from the last few years. The bank had focused on getting rid of parts of its mortgage business that it saw as undesirable, such as mortgages made by third-party lenders.
MOPPING UP A MESS: The bank reported that fourth-quarter earnings shrank, largely because of big charges for settling mortgage-related disputes. Analysts called it another earnings period sacrificed to cleaning up the mortgage unit.