commercial loans made to mid-sized company are up 24% since a year ago
Bank of America (BAC, Fortune 500), meanwhile, originated more than $50 billion in mortgage loans and more than $6 billion home equity loans in the third quarter, said Anne Finucane, the institution's global marketing and corporate affairs executive.
Overall, the funding of new loan commitments has increased by 6% this year over previous year, Finucane said. The bank is also actively buying mortgage-backed securities, adding liquidity to this market that's crucial to funding new loans.
At Wells Fargo (WFC, Fortune 500), commercial loans made to mid-sized company are up 24% since a year ago, while consumer loans are up almost 9% in the third quarter compared to a year ago, said Jon Campbell, Wells' regional banking president.
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