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Jun 5, 2008 . 2 Bank of America has formed a wholly owned subsidiary, Red Oak Merger
Corporation. ("Red Oak"), for. Bank of America also proposes to acquire certain
other Countrywide subsidiaries in accordance. . (March 3, 2008) and 73 Federal
Register 18,279 (April 3,2008)), and the time for filing comments . Jun 10, 2016 . Bank of America cannot claim attorney-client privilege for legal documents
shared between it and Countrywide during their 2008 merger, New York's
highest court ruled yesterday. The documents were passed between each
company's lawyers during merger discussions, but before the union had been . CHARLOTTE, N.C., July 1 /PRNewswire/ -- Bank of America Corporation today
completed its purchase of Countrywide Financial Corp. to create the nation's
leading mortgage originator and servicer. Bank of America will focus on
responsible home lending, serving as a reliable source of mortgages for the
Bank of America Home Loans is the mortgage unit of Bank of America.In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion. In 2006, Countrywide financed 20% of all mortgages in the United States, at a value of about 3.5% of United States GDP, a proportion greater than any other single mortgage lender. Find the latest business news on Wall Street, jobs and the economy, the housing market, personal finance and money investments and much more on ABC News. So why are all these mortgage companies consolidating, laying off employees, sending out scary warnings, and going out of business? Well, a recent statistic revealed that 2.33% of all US mortgages are currently delinquent, a number which is sure to rise over the next several years. ALSO READ: The 10 Most Polluted Cities in America 3. Nintendo. Nintendo has sold slightly more than 6 million Wii U consoles since its release in 2012, less than the number of PlayStation 4 units sold in the first five months it was available. House prices are set to fall 1% next year due to Brexit, Countrywide predicts – but will recover in 2018. Property values set to fall next year, Countrywide predicts
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