Bank of America Home Loans
Bank of America Home Loans is the mortgage unit of Bank of America. It previously existed as an independent company called Countrywide Financial from 1969 to 2008. 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 the United States GDP, a proportion greater than any other single mortgage lender.
| Company type | Division of Bank of America |
|---|---|
| Founded | March 14, 1969 (Countrywide) April 2009 (Bank of America Home Loans) |
| Headquarters | Calabasas, California, USA (Countrywide Financial) Charlotte, North Carolina, USA (Bank of America) |
Key people | Barbara J. Desoer, President of Bank of America Home Loans and Insurance |
| Revenue | $6,061,437,000 US$ (2007) |
| $1,310,274,000 US$ (2007) | |
Net income | $703,538,000 US$ (2007) |
| Parent | Bank of America |
| Website | Bank of America Home Loans |
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