Six companies that process foreclosures in Nevada have been named as defendants in a lawsuit that seeks class-action certification. The firms are accused of engaging in debt collection activity even though they were not licensed as debt collectors in the state. The lawsuits are in addition to foreclosure lawsuits recently filed against Bank of America [...]
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Class Action Targets NV Foreclosure Processors
January 31st, 2012 
davidguide 
Posted in Business Loans 
Tags: action targets, bank, bank of america, bank of america corp, Collection, debt, debt collectors, Lenders, Processors, six companies, State 
Comments OffAnother Shakeup Impacts BofA Mortgage President
October 23rd, 2011 davidguide The combination of two units at Bank of America Corp. has the company reorganizing management in a move that impacts the president of the mortgage unit. BofA is combining its consumer and small-business banking unit with its home loans division. While Barbara Desoer will maintain her title of president of home loans, she will manage [...]
Posted in Business Loans Tags: bank, bank of america, bank of america corp, barbara desoer, BofA, Consumer, home, President, Small business, small business banking Comments OffBofA Short Sale Incentive Pays Borrowers Up to $20k
October 7th, 2011 davidguide Bank of America Corp. has rolled out a program in Florida that gives defaulted borrowers up to $20,000 if their houses are sold through a short sale. Some in the industry say the offer is a move to ensure outgoing borrowers keep their properties in good condition. While the program is new for BofA, other [...]
Posted in Business Loans Tags: bank, bank of america, bank of america corp, BofA, Borrowers, condition, incentive, limited time, Pays, post Comments OffBofA Biggest Target in Wave of Investor Litigation
September 29th, 2011 davidguide Few financial firms are being spared in a wave of lawsuits being filed by investors. But the company that seems to be most frequently named as a defendant is Bank of America Corp. Several pending cases against an array of firms including BofA involve alleged Ponzi schemes. View full post on Mortgage Stories
Posted in Business Loans Tags: bank, bank of america, bank of america corp, BofA, Defendant, investor, Mortgage, Ponzi, post, Target Comments OffThousands of Layoffs Include Mortgage Jobs
August 20th, 2011 davidguide Bank of America Corp. confirmed in a statement that 3,500 positions are being eliminated. The layoffs will occur during the third quarter. More than a thousand mortgage jobs have been cut this year at the company. View full post on Mortgage Stories
Posted in Business Loans Tags: bank, bank of america, bank of america corp, jobs, Layoffs, Mortgage, post, Statement, View Comments OffBoA CEO Addresses Mortgage Business
May 12th, 2011 davidguide Bank of America Corp.’s chief executive officer faced complaints at the company’s annual shareholder meeting about the bank’s handling of foreclosures. In his opening remarks, he worked to distinguish the successful parts of the company from the struggling mortgage business. He clearly laid the blame on the 2008 purchase of tottering mortgage lender Countrywide Financial [...]
Posted in Business Loans Tags: bank, bank of america corp, Business, chief executive officer, countrywide financial, countrywide financial corp, Financial, handling, mortgage business, Purchase, Shareholder Comments Off
