Delinquency Decline Helps Bank of America Reach $3.4 Billion Q4 Net Income

April 16, 2015 3:25 AM

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In its Q1 2015 earnings report released Wednesday, Bank of America reported a net income of $3.4 billion, or 27 cents per diluted share, in part due to an increase in mortgage originations and a decline in the number of 60-plus day delinquent mortgages.

The megabank, headquartered in Charlotte, North Carolina, originated $17 billion worth of first-lien residential mortgage loans and home equity loans in Q1. The number of first mortgage loans serviced by the bank's Legacy Assets unit that were 60 or more days delinquent declined year-over-year by 45...

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