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After a 16-day review of its foreclosures, Bank of America (BAC) has pronounced itself satisfied: It found no problems at all with any of them, and it's ready to resume processing foreclosures.
Bank of America Corp. (BAC) is the subject of a lawsuit that accuses the bank of hiding foreclosure problems that contributed to a drop in its share price. The suit, filed by a union benefit plan ...
Bank of America (BAC), for the first time, acknowledged it has uncovered some mistakes in its foreclosure files, The Wall Street Journal reported, as it starts to resubmit documents in 102,000 cases.
[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]
But it appears that a key $8.5 billion settlement with large investors is playing a role in pushing many more people into foreclosures. The Bank of America Escalates Foreclosures After Settlement
A $93 million loan was issued by Bank of America National Trust and Savings to 203 North LaSalle Street Partnership. The Partnership's Chicago office building was used as the principal asset in a mortgage set up to secure the loan. The Partnership filed for bankruptcy and bank began the foreclosure process on the piece of property. [1]
On June 21, 2012, the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System released a financial remediation framework Agencies release financial remediation guidance, extend deadline for requesting a free independent foreclosure review to September 30, 2012 that provided examples of errors in foreclosures covered by the regulators' consent orders ...
The foreclosure halt came amid concerns that company executives may have signed documents. Bank of America (BAC) is preparing to resume foreclosures in 23 states, just 10 days after halting the ...
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