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bankofamerica
bankofamerica
$25 Billion Mortgage Settlement Is Just The First Step Toward Cleaning Up Mortgage Mess
By Chris Morran on February 9, 2012 4:31 PM
82 Comments
There are a lot of good things about today's $25 billion settlement between the five largest mortgage servicers, the Dept. of Justice and the attorneys general of 49 states. But in spite of the huge price tag on the deal — which could grow even larger if other lenders sign on — it's only the beginning of cleaning up the aftermath of housing market collapse. More »
Bank Of America Doesn't Seem To Care That 'Dead' Customer Is Actually Alive
By Chris Morran on February 9, 2012 2:00 PM
41 Comments
We thought the whole zombie fad was over, but don't tell that to the folks at Bank of America who seem to be having some problems with deciding whether or not a customer is alive or dead. More »
(afagen)
DOJ, 49 States Reach $25 Billion Settlement With Five Largest Lenders Over Robosigning
By Chris Morran on February 9, 2012 10:48 AM
39 Comments
More than a year after several of the nation's largest mortgage lenders temporarily suspended foreclosures after it was revealed that they had been using untrained, unqualified "robosigners" to process foreclosure documents, the U.S. Justice Dept. and the attorneys general of 49 states have announced a $25 billion settlement that will result in mortgage reductions to some homeowners. More »
Bank Of America Plaza Auctioned Off For Missing Mortgage Payments
By Mary Beth Quirk on February 7, 2012 5:00 PM
21 Comments
Bank of America Plaza, the tallest building in Atlanta, went on the auction block today, in a perfect example of things that go around you know, coming around. How does that medicine taste now, Bank of America? Your landlords missed mortgage mortgage payments and now they have to sell. We're sure that must be soo hard. More »
(RAWRZ!)
Almost All States Sign On To Massive Mortgage Settlement
By Chris Morran on February 7, 2012 12:15 PM
53 Comments
Last night was the deadline for the attorneys general of each state to sign onto a massive settlement with the nation's five largest mortgage lenders, and more than 40 of the states opted to join in the pot-sharing. More »
Judge Says Bank Of America Can Boot The $16 House Guy From McMansion
By Mary Beth Quirk on February 6, 2012 3:00 PM
57 Comments
UPDATE 4:40 p.m.: Kenneth says he's going to leave his $16 house without a fight, telling the Dallas Observer's "Unfair Park" blog: "If they are the true owners, then you're supposed to give it up anyway." More »
Bank Of America Takes Back My Claim Money Because My Account Was Compromised Twice
By Mary Beth Quirk on February 2, 2012 5:00 PM
47 Comments
Mahdi went through the upsetting ordeal of having her Bank of America checking account compromised, which was bad enough until of course, BOA found a way to make the whole thing even worse. Shocker. More »
Bank Of America Gives Loan Modifications To People Who Won't Complain About Them On Facebook
By Chris Morran on January 26, 2012 3:15 PM
51 Comments
As we've previously reported, Bank of America's loan modification program (for want of a better phrase) is being sued by the state of Arizona. But the AZ Attorney General says the nation's second-largest bank is hindering his investigation by quietly negotiating settlements with underwater homeowners — or at least those who will pledge to keep their mouths shut about the bank. More »
Public Citizen Calls For Breakup Of Bank Of America
By Marc Perton on January 25, 2012 12:15 PM
29 Comments
Bank of America poses "a grave threat to U.S. financial stability," according to watchdog group Public Citizen, which has called for the bank to be broken up. More »
Bank Of America To Do A Really Bad Job Of Offering Online Deals
By Chris Morran on January 24, 2012 4:15 PM
20 Comments
Because between the existing glut of daily deals websites is apparently not sufficient, and because we aren't already inundated with complaints about Bank of America, the nation's second-largest but most-reviled financial institution has decided to branch out into the online deals business with BankAmeriDeals. More »
Bank Of America Debit Card Fiasco Resulted In 20% Jump In Closed Accounts
By Chris Morran on January 23, 2012 4:00 PM
60 Comments
Though Bank of America surely expected a certain amount of attrition when it announced it would begin charging a monthly fee for some customers to use their debit cards to make purchases, it probably didn't expect that it would see a full 20% increase in the number of customers saying "bye-bye" to BofA. More »
Big Banks Pinky-Swear To Overhaul Lending & Foreclosure Practices
By Chris Morran on January 23, 2012 3:15 PM
28 Comments
Nearly a half-decade after the U.S. housing market collapsed like something that collapses really badly, the country's five biggest mortgage providers — Bank of America, Chase, Wells Fargo, Citi and Ally — are oh-so-close to reaching a settlement with the states that could include overhauls to how they operate when it comes to the whole lending/servicing/foreclosing process. More »
Bank Of America Plaza So Close To Becoming Epicenter Of Irony
By Chris Morran on January 6, 2012 3:15 PM
35 Comments
Ever since it stupidly acquired Countrywide Financial — and all of that company's toxic home loans — the Bank of America name has become synonymous with rampant, and occasionally screwed-up, foreclosures. Now the tallest building in Atlanta is facing foreclosure — and it just happens to bear the BofA name. More »
Bank Of America Kicks Man Out Of Mortgage Modification Program Over 80 Cents
By Mary Beth Quirk on January 5, 2012 10:00 AM
46 Comments
Tom was in danger of foreclosure and losing his home, so when he was approved for a mortgage modification program by Bank of America, he was relieved. As long as he made his new lower monthly payments on time for three months, he was golden. But one slip of the fingers on his phone's keypad changed everything, and fast. More »
Bank Of America Thinks I'm My Own Dad, Turns Me Away During Emergency
By Laura Northrup on January 4, 2012 8:00 AM
46 Comments
When Bank of America issued Jorge's credit card in 1998, for some reason that remains unclear, the card was issued in the name of "Jorge [Lastname] Sr." Jorge doesn't have a son named Jorge Junior, and there's no reason why the account should be set up that way, but Bank of America assured him that this wouldn't be a problem. And it wasn't. Until he needed an emergency cash advance, and couldn't prove to the unfamiliar branch's satisfaction that he hadn't, say, stolen his dad's credit card. More »
(birdarts)
Bank Of America Won't Let New Bride Deposit Wedding Gift Checks Because She Didn't Change Her Last Name
By Chris Morran on January 3, 2012 2:15 PM
203 Comments
While a large majority of women in the U.S. choose to take their husband's last name when they get married, it's certainly not some unheard-of practice that should wreak havoc at a national bank. But Bank of America employees in Albany decided they could not possibly recognize a new bride as her husband's spouse since she hadn't changed her name to match his. More »
All It Took To Convince Bank Of America To Finally Close On A Mortgage Loan Was A Music Video
By Mary Beth Quirk on December 29, 2011 3:00 PM
24 Comments
Next time your bank is being stubborn over closing on a mortgage loan, perhaps consider doing a little song and dance — it worked for one couple battling with Bank of America. Well, that and a really good credit rating of 798. More »
Bank Of America Decides To Let Foreclosed-Upon Family Stay In House Until Wife Dies
By Chris Morran on December 22, 2011 3:15 PM
82 Comments
At the intersection where Foreclosure Ave. crosses Health Care Blvd. lives a California couple who had to choose between mortgage and the health insurance needed to cover the wife's late-stage amyotrophic lateral sclerosis. Until recently, it looked like they would be forced to vacate the house they'd bought 15 years ago, but Bank of America has decided to delay the eviction until after the wife's death. More »
"I am curiously orange"
DOJ Settles With BofA For $335 Million Over Countrywide Pushing Minorities Into Subprime Loans
By Chris Morran on December 21, 2011 4:50 PM
34 Comments
Nearly four years ago, we first reported on allegations that Countrywide Financial, the failed lender that was bought by Bank of America after it collapsed, had their system set up so that non-white loan applicants were steered toward subprime loans, even if they could have qualified for a standard mortgage. Well, the wheels of justice turn remarkably slowly in Washington, DC, but today the Justice Dept. finally announced a settlement with BofA for $335 million over these allegations. More »
Bank Of America & Chase Continue To Be Penalized For Sucking At Loan Modifications
By Chris Morran on December 7, 2011 5:12 PM
26 Comments
For the third quarter in a row, the Treasury Dept. has released its report card detailing how the country's largest mortgage servicers are doing with processing loan modifications. And for the third consecutive quarter, both Bank of America and JPMorgan Chase will not receive incentive payments from the Treasury because the banks are doing such a craptastic job at complying. More »
