Bank of America Lends $13 Billion of Home Equity and Reverse Mortgage Loans in 2009

image Bank of America extended more than $758 billion in credit during 2009, including nearly $180 billion during the fourth quarter alone said its Lending & Investing Initiative Report.

In addition, the company extended nearly $3 billion in home equity and reverse mortgage loans (FY09: $13 billion) during 4Q. 

"Bank of America can only succeed by doing all we can to contribute to the success of our customers, clients and the communities we serve," said Brian T. Moynihan, president and chief executive officer, Bank of America.

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"The state of the national economy will continue to have a tremendous influence on our shared progress. But the recovery is underway. Bank of America contributed to this recovery by extending more than $758 billion in credit across both the consumer and commercial sectors, more than any other U.S. bank. This report provides a sampling of what we’re doing and how."

Looking for more reverse mortgage data on Bank of America?  Check out its listing on ReverseBase

Chart: Bank of America 2009 Volume

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Bank of America 2009 Volume

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