Bank of America (BAC) is in talks to sell its correspondent mortgage business to Fortress...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

Bank of America (BAC) is in talks to sell its correspondent mortgage business to Fortress Investment (FIG), according to sources. Connections? BofA acquired the business through its Countrywide purchase. The Fortress CEO, Daniel Mudd, is the former Fannie Mae CEO, who was tight with Countrywide during his time in government service. The wheel goes round.