Posts Tagged ‘BofA’

BofA to try converting foreclosures into rentals – Los Angeles Times

Los Angeles Times BofA to try converting foreclosures into rentalsLos Angeles TimesBofA begins a test program for homeowners headed into foreclosure in Nevada, Arizona and New York. Borrowers will be offered the chance to stay as renters before the properties are sold to investors. BofA has begun a pilot program offering some of its …Bank [...]

BofA Tests an Option to Foreclosure – Wall Street Journal

Wall Street Journal BofA Tests an Option to ForeclosureWall Street JournalBy NICK TIMIRAOS Bank of America Corp. is launching a pilot program that will allow homeowners at risk of foreclosure to hand over deeds to their houses and sign leases that will let them rent the houses back from the bank at a market rate.BofA [...]

BofA Among Banks in $25 Million Deal Over NY Mortgage Case – BusinessWeek

Daily Beast BofA Among Banks in $25 Million Deal Over NY Mortgage CaseBusinessWeek(WFC) in February over their use of the mortgage registry known as MERS, accusing the lenders of deceiving homeowners and conducting improper foreclosures. The state's agreement with the three banks, as well as Citigroup Inc. (C) and Ally Financial …Big Banks Reach $25 [...]

BofA in side deal with US govt on mortgage foreclosures -WSJ – Reuters

Los Angeles Times BofA in side deal with US govt on mortgage foreclosures -WSJReutersMarch 8 (Reuters) – Bank of America, one of five banks in $25 billion settlement with the US government over foreclosure practices, has struck a side deal that will allow it to reduce penalties in return for bigger cuts to borrowers' mortgage [...]

JPMorgan, BofA Strain for Qualified Staff to Clear Foreclosures – San Francisco Chronicle

Bloomberg JPMorgan, BofA Strain for Qualified Staff to Clear ForeclosuresSan Francisco Chronicle27 (Bloomberg) — JPMorgan Chase & Co. and Bank of America Corp. told regulators they were straining last year to hire and retain enough qualified people who could clear a backlog of foreclosure complaints. JPMorgan, the largest US bank by assets, …Next wave of [...]

BofA, JPMorgan, UBS, Foreclosure Deal, Goldman in Court News – BusinessWeek

Los Angeles Times BofA, JPMorgan, UBS, Foreclosure Deal, Goldman in Court NewsBusinessWeek6 (Bloomberg) — Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. were sued by New York Attorney General Eric Schneiderman over the use of a mortgage database that the state said led to improper foreclosures.2008 deal may hinder California's [...]

BofA CEO: $5 Fee Needed to Pay for Dodd-Frank – NewsMax.com

USA Today BofA CEO: $5 Fee Needed to Pay for Dodd-FrankNewsMax.comSales, foreclosures, activity, pricing? It seems like that by itself is pulling down the economy. You see anything better? Mr. MOYNIHAN: Well, the first thing to think about housing is we service 20 percent of mortgage loans in America, …Ignoring Massive Industry Fraud, Bank Of [...]

BofA settlement may be pushing more into foreclosure – USA Today

USA Today BofA settlement may be pushing more into foreclosureUSA TodayBut it appears that a key $8.5 billion settlement with large investors is playing a role in pushing many more people into foreclosures. By Chuck Burton, AP By Chuck Burton, AP The number of homes across the country that received an initial default …Bank of [...]

BofA Weighs Foreclosure Deal With N.Y. Probe – Bloomberg

BofA Weighs Foreclosure Deal With N.Y. ProbeBloomberg(BAC) may settle a state and federal probe of foreclosure practices in a deal that lets New York proceed with an inquiry into securitizations, said two people with direct knowledge of the talks. The firm may pursue an accord with most of the 50 state …BofA Said to Weigh [...]

Washington State Sues BofA Over Foreclosures – Wall Street Journal (blog)

Washington State Sues BofA Over ForeclosuresWall Street Journal (blog)A lawsuit filed last Thursday by the Washington state attorney general shows why foreclosure-document problems aren't limited solely to so-called “judicial” states where banks must use the courts to foreclose. …Washington State Accuses Bank of America Subsidiary in Illegal Foreclosure LawsuitBryan Ellis Real Estate LetterState Files Suit [...]