The Federal Reserve’s housing policies have helped steer the four largest home loan lenders back to recovery, Bloomberg News reported. Wells Fargo, JPMorgan Chase, Bank of America and U.S. Bancorp reported $24.4 billion in revenues from home lending in 2012 and expenses of just over $21.7 billion for settlements and loan repurchases, according to Bloomberg News data. Total loan originations for the year were $1.75 trillion, the highest levels since 2009, according to the Mortgage Bankers Association.
Fed steers largest home lenders back to recovery
January 22, 2013 09:45AM