BofA’s Once Giant Mortgage Business Is Now Listed Under ‘Other Income’
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One measure of how much things have changed in the last decade at Bank of America Corp.: The firm has stopped reporting fees from its mortgage business.
The revenue line that once regularly topped $1 billion a quarter is now so small that the company on Monday lumped it into “all other income” from its consumer bank. The lender simply said income from the mortgage banking business was “lower” in the first quarter.