A new program being tested by Bank of America Home Loans on a limited number of delinquent mortgages would enable borrowers to hand over the titles to their properties but stay on as renters. The program could be expanded if it proves successful. The pilot program was launched this week in targeted hard-hit housing markets. [...]
Posts Tagged ‘BofA’
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BofA Tests Deed-in-Lieu Rentals
March 23rd, 2012 
davidguide 
Posted in Business Loans 
Tags: bank of america, bank of america home loans, BofA, Deed-in, delinquent mortgages, home, Housing, perception, post, public perception, Rentals 
Comments OffBofA Moves Backwards With HAMPs
January 19th, 2012 davidguide Completed and active modifications from all mortgage servicers under the Home Affordable Modification Program increased by more than 15,000 during November. That was better than the gain previously calculated for October. A noteworthy item about the November report is that Bank of America, N.A.’s, completed modifications fell by 12,245 HAMPs from October. View full post [...]
Posted in Business Loans Tags: Affordable, bank, bank of america, BofA, Completed, home, mortgage servicers, October, post 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 OffBofA Shakes Up Mortgage Unit
February 5th, 2011 davidguide Bank of America said that it has established a legacy asset servicing unit. The new operation will handle servicing for all defaulted loans and discontinued residential mortgage products. “The decision is the latest in a series of significant actions taken to resolve outstanding mortgage-related issues,” the statement said. View full post on Mortgage Stories
Posted in Business Loans Tags: asset, asset servicing, bank, bank of america, BofA, defaulted loans, post, residential mortgage products, series, Shakes Comments OffBofA Fighting States Over Modifications
December 19th, 2010 davidguide The Nevada Attorney General’s office sued Bank of America Friday morning for allegedly deceiving homeowners through its residential loan modification and foreclosure practices. The lawsuit was triggered by consumer complaints. Also on Friday, Arizona’s attorney general announced a similar lawsuit against the company. View full post on Mortgage Stories
Posted in Business Loans Tags: bank of america, BofA, loan modification, nevada attorney general, residential loan Comments Off
