B of A Says No (Again) To Mortgage Outsourcing

Shenn, Jody; Davis, Paul
February 2006
American Banker;2/9/2006, Vol. 171 Issue 27, p1
Trade Publication
This article discusses Bank of America Corp.s (B of A) plans to discontinue using its Nexstar Financial Corp. for mortgage outsourcing. Julie Davis of B of A said that it plans to adopt the unit's technology platform for its own mortgage business. Since it became part of B of A, MBNA has lost some business, most notably Wachovia Corp.'s, but it has also picked up at least one customer: Bank of Hawaii, which hired MBNA to issue American Express-branded cards.


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