Close Menu
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

How to Finance Used Equipment

July 2, 2025

You bailed during the stock market dip in April: 5 moves to make now

July 2, 2025

Animoca’s Moca Foundation launches Moca Chain for decentralized digital identity

July 2, 2025
Facebook X (Twitter) Instagram
  • Contact Us
  • Privacy Policy
  • Terms Of Service
Wednesday, July 2
Doorpickers
Facebook X (Twitter) Instagram
  • Home
  • Economic News
  • Stock Market
  • Real Estate
  • Crypto
  • Investment
  • Personal Finance
  • Retirement
  • Banking
Doorpickers
Home»Real Estate»Bank of America, Citi warn of mortgage business softening
Real Estate

Bank of America, Citi warn of mortgage business softening

April 16, 2025No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Bank of America Update

Bank of America’s chair and CEO, Brian Moynihan, recently commented on the bank’s performance, stating that their clients have been doing well despite potential economic changes in the future. He mentioned that consumers have shown resilience by continuing to spend and maintaining healthy credit quality.

Moynihan also addressed analysts, highlighting the uncertainties surrounding tariffs and other policies that could impact the economy. However, the bank’s research team does not foresee a recession in 2025. They have adjusted their GDP growth rates and do not expect any rate cuts during the year, but anticipate potential changes in 2026 once inflation is under control.

During the first quarter of 2025, BofA funded $4.5 billion in first-lien mortgages, showing a decline from the previous quarter but an increase from the same period last year. Additionally, the bank purchased an $8 billion portfolio of residential mortgages, expecting a positive impact on net interest income.

Chief financial officer Alastair Borthwick emphasized the quality of the investment and the expansion of customer relationships beyond mortgage loans. The total mortgage-backed securities portfolio also saw an increase in fair market value compared to the previous year.

Similar Trends in the Market

Other financial institutions like Citi, JPMorgan, and Wells Fargo also reported mortgage volume changes in the first quarter of 2025. Nonbank mortgage lenders are expected to release their earnings soon, as regulatory pressures continue to impact mortgage earnings.

Citi’s CEO Jane Fraser acknowledged the uncertainties in the global economy and the potential changes in regulation and tax policies. She expressed optimism about industry changes that focus on managing financial risks and improving client service to contribute to economic growth.

America bank Business Citi Mortgage softening warn
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Understanding Home Warranty vs. Home Insurance

July 2, 2025

What’s in Trump’s ‘Big Beautiful Bill’ for seniors?

July 1, 2025

Here’s How Long to Keep Paperwork After Selling a House

July 1, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Better mortgage spreads are capping rates in 2025

February 8, 20250 Views

2025 Spring Housing Market: Why It’s So Weird

April 23, 20250 Views

IHG Credit Cards Boost Bonuses Significantly [Limited Time]

July 11, 20240 Views
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest
Personal Finance

How to Finance Used Equipment

July 2, 20250
Investment

You bailed during the stock market dip in April: 5 moves to make now

July 2, 20250
Crypto

Animoca’s Moca Foundation launches Moca Chain for decentralized digital identity

July 2, 20250
Facebook X (Twitter) Instagram Pinterest
  • Contact Us
  • Privacy Policy
  • Terms Of Service
© 2025 doorpickers.com - All rights reserved

Type above and press Enter to search. Press Esc to cancel.