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Testimony in a New Jersey foreclosure case decided last week may spell big trouble for Bank of America (BAC). If what one bank employee said on the stand proves to be accurate, paperwork problems ...
Bank of America Home Loans is the mortgage unit of Bank of America.It previously existed as an independent company called Countrywide Financial from 1969 to 2008. In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion.
Meanwhile, the Federal Trade Commission has begun mailing checks as part of the $108 million settlement it reached with Countrywide, now owned by Bank of America , in June 2010, the FTC said ...
The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
One of the straightest paths this country could take toward Bank Bailout 2, the Sequel, would be through forcing financial institutions to buy back the lousy mortgage-backed securities they sold ...
[3] [4] The foreclosure crisis caused significant investor fear in the U.S. [5] A 2014 study published in the American Journal of Public Health linked the foreclosure crisis to an increase in suicide rates. [6] [7] One out of every 248 households in the United States received a foreclosure notice in September 2012, according to RealtyTrac. [8] [9]
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