BofA: Foreclosed Homes Selling Faster

Updated Nov. 15, 2011 3:54 p.m. ET

NEW YORK—Bank of America Corp. Chief Executive Brian Moynihan said Tuesday the bank is able to sell foreclosed houses faster than it had in the past as it tries to work through its pile of soured home loans.

The speed at which the bank is able to foreclose on houses varies state-by-state, and in some places has proven to be a key factor in slowing the process of moving homes off its books, Mr. Moynihan said at a conference run by his...

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