BofA to buy $9 bln residential mortgage loan from Canada's TD, source says
1. Bank of America purchases a $9 billion mortgage portfolio from Toronto-Dominion Bank. 2. This acquisition may strengthen BAC's mortgage lending position in the market.
FAQ
Why Bullish?
This acquisition expands BAC's mortgage portfolio, likely enhancing its market competitiveness, similar to past successful acquisitions boosting share price.
How important is it?
Acquiring a substantial portfolio significantly impacts BAC's financial strength and market strategy, presenting a robust growth opportunity.
Why Long Term?
The integration of the portfolio will take time, increasing BAC's profitability over the long term, similar to previous strategic purchases.