BofA’s Skirting Of The National Mortgage Settlement Creates Nightmare For Couple

How Bank Bean Counters Are Skirting The National Mortgage Settlement And Forcing Homeowners To Face A Bigger Nightmare   Last summer, I wrote about how Bank of America was selling off it’s mortgage serving portfolio to companies like servicers like Greentree, Nationstar and Seterus who are not regulated by the Office of the Comptroller of the Currency in […]

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Bank of America Is About To Take Outsourcing To Whole New Level

Bank of America To Replace Local Tellers With Low-Wage Video Conferenced Tellers In the past three months, Bank of America has quietly been replacing their ATM machines with models that allow for video conferencing. At first glance, it appears Bank of America did this to make their ATM customers feel all warm and fuzzy. “Too often, […]

BofA Solves Liquidity Problem By Circumventing National Mortgage Settlement

BofA Is Circumventing National Mortgage Settlement By Selling Servicing Rights To Unregulated Servicers   “Are you aware of the fact that your bank is turning its customers over to a processor that based on the complaints posted appears to not only lack basic competency but also poor customer service? Many of the complaints are former BofA customers, […]

Bank of America CEO, ex-CEO must face mortgage disclosures lawsuit

A federal judge has revived a securities fraud lawsuit accusing Bank of America Corp Chief Executive Brian Moynihan, his predecessor Kenneth Lewis, and others of misleading shareholders about the risk the bank might have to buy back large amounts of soured mortgages. U.S. District Judge William Pauley in Manhattan in July had dismissed various claims […]

BofA Dismisses $8.5B Settlement As Nothing More Than “Bad Hour”

Bank of America CEO: $8 Billion Subprime Settlement Is ‘Like a Bad Hour for Us’ Dan Freed, The Street Bank of America (BAC_)’s proposed $8.5 billion subprime mortgage settlement agreement with several large institutions, reached in June 2011, is just a “bad hour,” for the giant bank, according to recent testimony by CEO Brian Moynihan. Moynihan’s […]

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