BOA to acquire South Florida’s biggest subprime lender

By the end of this year, Bank of America is expected to complete its $4 billion acquisition of Countrywide Financial, the most active U.S. lender and the most active subprime lender in Palm Beach and Broward counties. Bank of America has 55 branches in Palm Beach County an 90 in Broward County; 3 percent of its loans in the two counties were subprime in 2006.