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Wednesday, April 7, 2010 as of 11:14 AM ET

Barbara Desoer

Barbara J. Desoer

Barbara J. Desoer is president of Bank of America Home Loans, a leading U.S. mortgage originator and servicer.

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CORRECT (4/11): Bank Of America Realigns Units With New Management; Cuts One

("Bank of America Realigns Units With New Management; Cuts One," at 5:08 p.

m. EDT on April 11, misstated the first name of Thomas Montag in the fifth paragraph. The correct version follows:)NEW YORK -(Dow Jones)- Bank of America Corp. (BAC) is realigning its business divisions to reflect a renewed focus simplifying the bank and to better sell various products aimed at the same customers.The Charlotte bank, the nation's second-largest by assets, disclosed in a filing with the Securities and Exchange Commission Wednesday that it is cutting the number of its divisions to five from six, folding its credit-card operations into its retail and small-business banking business to form one consumer-banking division. Many banks have put more emphasis on selling credit cards to their own bank customers who visit branches.In addition, Bank of America said it will create one larger business-banking division, combining middle-market and large corporate lending. The latter was previously part of its c...

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  1. Report: BofA Eyes Sale of Correspondent Mortgage Arm

    In its latest effort to slim down, embattled financial services giant Bank of America (NYSE:BAC) is reportedly attempting to unload its correspondent mortgage operat...

  2. Foreclosure Mess Impact Could Be Severe: Panel

    Widespread problems in how U.S. lenders documented foreclosures could spark a wave of legal challenges resulting in massive losses to banks and serious new troubles ...

  3. BofA exits wholesale mortgage business

    NEW YORK (Reuters) - Bank of America Corp,the largest U.S. bank by assets, said Tuesday it will nolonger sell mortgages through independent mortgage brokers, asit co...

  4. PREVIEW-U.S. housing summit may yield Fannie, Freddie clues

    By Corbett B. DalyWASHINGTON (Reuters) - An Obama administration summit of housing industry leaders next week may yield clues on the future of Fannie Mae and Freddie...

  5. U.S. housing forum to feature lenders, investors

    WASHINGTON (Reuters) - The U.S. Treasury said Thursday its housing finance conference next week will feature heavyweights in the mortgage lending and investment sect...

  6. BofA Launches Homeownership Retention Program

    Barbara Desoer , Bank of America home loans president, on a new program aimed at helping homeowners with underwater mortgages.

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