BofA hasn’t modified any mortgages so far under mortgage settlement

Reuters via NBC News Bank of America Corp hasn’t completed any first-mortgage modifications that reduce loan balances for borrowers so far under a $25 billion settlement reached this year, the official monitoring the agreement said Wednesday. Five financial institutions that are part of the settlement have provided $10.6 billion in consumer relief from March 1 to June 30, […]

BofA shareholders may sue BofA over it’s dependency on MERS

Jonathan Stempel, Reuters A federal judge refused to dismiss a lawsuit accusing Bank of America Corp of misleading shareholders about its exposure to risky mortgage securities and its dependence on an electronic mortgage registry known as MERS. U.S. District Judge William Pauley in Manhattan said shareholders led by a Pennsylvania school pension fund may pursue […]

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