BofA Rolls Out $8.4 Billion Loan Mod Program

Florida, one of the country’s hardest-hit foreclosure states, will get $8.4 million. their loan balance. attorneys generals said Thursday they will oversee how the banks choose to allocate those.

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While private-sector expectations have been building that the White House could roll out steps. noticeably dropped out of the program and not successfully modified their loans. About 1.6 billion.

Erik and Renee Sundquist have won their eight year long battle with Bank of America illegally foreclosing on their home, reaching a $6M settlement. Oppenheim Law shares more here.

Among the most talked-about changes were restrictions against dual-tracking owners through the foreclosure and loan modification pipelines. enhance their "big data" capabilities, as the CFPB rolls.

Bank of America subsequently dropped the name "Countrywide Home Loans" and renamed it "Bank of America Home Loans". As part of its rescue of the financial system, the Federal Reserve set up a special investment vehicle named "Maiden Lane LLC" to buy risky assets and remove them from the balance sheets of financial institutions.

"Bank of America Merrill Lynch" is the marketing name for the global banking and global markets business of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC.

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The new program comes with a price tag of $8.4 billion, but Simon says that it will cost much less than foreclosing on homes en masse. As the credit crisis continues, more and more lenders and.

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July 2010 Bank of America to Modify Loan-Mod Plan; Work with Government. Bank of america announced june 2 that the company would offer principle reductions to troubled borrowers through a government initiative instead of a company program, as previously announced.

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 · One year after its inception the Obama administration’s billion housing help program has failed, Republican lawmakers said Thursday in a new report obtained by ABC News.