Tag Archives: bofa

Banks Close To Settlement With Administration, State AGs Over Foreclosure Practices

The major banks are close to finishing a deal whereby they give up $20 billion and agree to change their ways in exchange for legal immunity from various lawsuits against them over foreclosure practices. Banks have always sought to settle … Continue reading

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A Bet On Bank Of America Is A Bet On Housing

That’s a line I just heard on CNBC (9:40 am PDT). Bank of America and Wells Fargo are disproportionately in the mortgage market. Meanwhile, home builder stocks are hitting record lows. Problems in housing are going to plague earnings for … Continue reading

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A Bank Of America Refinance Goes Bad

Have you heard David Lazarus when he becomes a talk radio host on KCRW? He’s great. He has the confidence for the task. He sounds like a natural. You would never know that he was first and foremost a news … Continue reading

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LAT Astounded By B of A’s Refusal To Refinance

LAT consumer correspondent David Lazarus claims the housing crisis was caused by banks eagerness to loan money. Now they’ve turned skinflint. Well, banks were burned. They were forced by politicians and regulators to lend to a lot of people, particularly … Continue reading

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States Reach Deal With Countrywide

From SFgate.com: The pact stems from cases filed earlier this year by California and other states, alleging Countrywide, based in Calabasas (Los Angeles County), used misleading advertising and unfair business practices to dupe customers into taking out home loans they … Continue reading

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Bank Of America Acquires Countrywide

From bizjournals.com: Bank of America Corp. said David Sambol, chief operating officer at Countrywide Financial Corp., will retire after the two companies merge in the third quarter. Taking his place will be Barbara Desoer, who will move from her role … Continue reading

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Countrywide Exec Retires

From the Triangle: A top executive at Countrywide Financial Corp. will leave the company after its takeover by Bank of America, despite previous plans to run the combined company’s mortgage operations. Charlotte-based Bank of America (NYSE: BAC) said in January … Continue reading

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