Tuesday, November 12, 2013

Bank of America working on deal with Freddie Mac

Bank of America is reportedly in talks with mortgage giant Freddie Mac over a potential settlement that could put an end to the disputes between the two over soured mortgages, the Wall Street Journal reports. Should it come to fruition, it would be the second major accord between the Charlotte bank and the mortgage giant over loans sold to Freddie Mac before the financial crisis. The Journal says the agreement would cover the rest of the loans sold before 2012. The earlier agreement covered loans sold by Countrywide.

DELOITTE TEAM IN CHARLOTTE ADVISING ON ENERGY DEAL: The investment banking group is working with energy infrastructure maintenance company Elkhorn Holdings on its sale to the international energy services firm John Wood Group. The Deloitte team is formerly of McColl Partners, which sold earlier this year.

YADKIN FINANCIAL EMBLEMATIC OF ANEMIC LOAN GROWTH: The Elkin-based bank told analysts the other day it was on the offensive when it comes to lending, but the results were a little underwhelming -- about 2 percent growth year to date. SNL Financial says that's been typical across the community banking sector. Linked quarter loan growth was just 1.25 percent nationwide in the third quarter, and half that in the South.

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