BofA launches loan summary form

Bank retires Countrywide name

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Bank of America today officially retired the Countrywide Home Loans name, rolling out the Bank of America Home Loans brand and announcing a new one-page loan summary form.

The one-page "Clarity Commitment" loan summary form doesn’t replace legal loan disclosure documents, but makes clear the interest rate, terms and other details of the loan in plain language, Bank of America said.