Did Bank of America purchase Country Wide Bank?

Answer by  smkkms78 (29)

Yes, Bank of America purchased Country Wide in 2008, for four point one billion dollars. BofA now services all former Country Wide loans as a result of the merger. Country Wide financed twenty percent of all mortgages in 2006, which led to their lost of revenue during the housing crisis and is why they become vulnerable to purchase.

Answer by  brians6000 (640)

Bank of America aquired Countrywide in January of 2008, for the amount of $4.1 Billion. Countrywide was close to bankruptcy at the time of this aquisition. Countrywide Financial changed its name to Bank of America Home Loans as a result of this aquisition.