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BofA’s mortgage biz ticks up in Q2, but regulatory headwinds are on the horizon

Bank of America (BofA), a top-20 U.S. mortgage lender, reported on Tuesday significant improvements to its home loan business in the second quarter of 2023, just as competitors JPMorgan Chase and Wells Fargo did late last week. 

But executives at all three banks expect some major regulatory headwinds. Rumors are that large banks would see residential mortgage capital requirements that far exceed international standards under the Basel III rules, which are expected to be unveiled on July 27, according to a report by Bloomberg.

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