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

Merlin Chain Unleashes Bitcoin’s Ultimate Potential with 2.0 Upgrade

July 31, 2025

Weak Bitcoin Treasury Companies Won’t Survive The Bear Market

July 31, 2025

August Mortgage Interest Rate Forecast

July 31, 2025
Facebook X (Twitter) Instagram
  • Contact Us
  • Privacy Policy
  • Terms Of Service
Thursday, July 31
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

August Mortgage Interest Rate Forecast

July 31, 2025

D.C.’s Most Expensive Home Sales of 2025 So Far

July 31, 2025

No Fed Action in Key Market Week; Mortgage Rates Flatten

July 30, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Most Americans say weather events are increasing the risk to their homes

September 30, 20240 Views

Ethereum’s Buterin calls for greater crypto privacy amid AI, govt risks

April 21, 20251 Views

Trump vs. Powell: How investors could come out as big losers in Fed fight

July 19, 20250 Views
Stay In Touch
  • Facebook
  • YouTube
  • TikTok
  • WhatsApp
  • Twitter
  • Instagram
Latest
Crypto

Merlin Chain Unleashes Bitcoin’s Ultimate Potential with 2.0 Upgrade

July 31, 20250
Crypto

Weak Bitcoin Treasury Companies Won’t Survive The Bear Market

July 31, 20250
Personal Finance

August Mortgage Interest Rate Forecast

July 31, 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.