and distribution, and merger-related and other advisory services. Underwriting debt and equity issuances, fixed-income and equity research, and certain market-based activities are executed through the company’s global broker-dealer affiliates, which are its primary dealers in various countries. Within Global Banking, Global Commercial Banking clients generally include middle-market companies, commercial real estate firms, auto dealerships and not-for-profit companies. Global Corporate Banking clients generally include large global corporations, financial institutions and leasing clients. Business Banking clients include mid-sized U.S.-based businesses requiring customized and integrated financial advice and solutions. Global Corporate, Global Commercial and Business Banking: Global Corporate, Global Commercial and Business Banking each include Business Lending and Global Transaction Services activities. Business Lending includes various lending-related products and services, and related hedging activities, including commercial loans, leases, commitment facilities, trade finance, real estate lending and asset-based lending. Global Transaction Services includes deposits, treasury management, credit card, foreign exchange and short-term investment products. Global Investment Banking: Client teams and product specialists underwrite and distribute debt, equity and loan products; and provide advisory services and tailored risk management solutions. Global Markets This segment offers sales and trading services, including research, to institutional clients across fixed-income, credit, currency, commodity and equity businesses. Global Markets product coverage includes securities and derivative products in both the primary and secondary markets. Global Markets provides market-making, financing, securities clearing, settlement and custody services worldwide to the company’s institutional investor clients in support of their investing and trading activities. The company also works with its commercial and corporate clients to provide risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income and mortgage-related products. As a result of its market-making activities in these products, the company might be required to manage risk in a range of financial products, including government securities, equity and equity-linked securities, high-grade and high-yield corporate debt securities, syndicated loans, mortgage-backed securities, commodities, and asset-backed securities. Global Banking originates certain deal-related transactions with the company’s corporate and commercial clients that are executed and distributed by Global Markets. LAS This segment is responsible for the company’s mortgage servicing activities related to residential first mortgage and home equity loans serviced for others and loans held by the company, including loans that have been designated as the LAS Portfolios. This segment is also responsible for managing certain legacy exposures related to mortgage origination, sales and servicing activities (litigation, representations and warranties). In addition, this segment includes the financial results of the home equity portfolio selected as part of the Legacy Owned Portfolio and the results of MSR activities, including net hedge results. This segment includes certain revenues and expenses on loans serviced for others, including owned loans serviced for Consumer Banking, GWIM and All Other. Servicing: LAS is responsible for all of the company’s in-house servicing activities related to the residential mortgage and home equity loan portfolios, including owned loans and loans serviced for others (collectively, the mortgage serviced portfolio). In addition, LAS is responsible for contracting with and overseeing subservicing vendors who service loans on the company’s behalf. Servicing activities include collecting cash for principal, interest and escrow payments from borrowers, disbursing customer draws for lines of credit, accounting for and remitting principal and interest payments to investors and escrow payments to third
bank of america corp (BAC:New York)
Bank of America Corporate Center
100 North Tryon Street
Charlotte, NC 28255
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