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Countrywide's Legacy Continues to Haunt BofA
And the hits just keep on coming for Bank of America. In what is possibly one of the worst years to work for one of the too-big-to-fail banks, 2013 is shaping up to end on a low note for the...
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The Good, the (Not So) Bad and the Ugly of BofA
Bank of America (BofA) is a tough company to love.Click to continue
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FHFA Settles With BofA for $5.83 Billion Over Countrywide Legacy Loans
The Federal Housing Finance Agency (FHFA) has announced it has reached a settlement in cases involving Bank of America, Countrywide Financial, Merrill Lynch, and certain named individuals totaling...
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NFCC Reports on Consumer-Based Financial Repair Program
The National Foundation for Credit Counseling (NFCC) has announced the six-month activity report of its Sharpen Your Financial Focus program. With funding from Bank of America, Chase, GE Capital Retail...
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Next on the Regulatory Chopping Block ... Small- to Mid-Sized Lenders
While we’re all accustomed to news that the big four banks (JPMorgan Chase, Citibank, Wells Fargo and Bank of America) getting into hot water over shady mortgage practices, get ready for a new...
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Paying Peter With Paul's Money: Fed Targets Banks Using Money From Historic...
In an odd, almost cannibalistic move, the U.S. government is planning to use money gained through settlement claims from JPMorgan Chase to fund the expanding Great Bank Hunt, according to Reuters.Click...
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HUD Decision Abandons Relief for Non-Borrowing Surviving Spouses
When a company like Bank of America causes a problem or harms individuals, resulting in a loss of equity, they typically get in trouble. If General Motors Company (GMC) releases a truck with faulty...
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AIG Settles Legacy RMBS Dispute With Bank of America
American International Group, Inc. announced that it has reached a global resolution of its residential mortgage-related disputes with Bank of America. The resolution includes its claims pending in New...
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Can the Wealth Building Home Loan Re-Animate the Mortgage Market?
There is no nice way around it: The latest mortgage application data is atrocious. However, the introduction of a new product potentially holds the promise of revitalizing a purchase market that seems...
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Stearns Lending Taps John Adam as EVP, Head of Retail Lending
Stearns Lending LLC has announced that John Adam has joined the company as executive vice president, national head of retail lending. Prior to joining Stearns, Adam served as the Northeast sales...
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BofA Names Moynihan Chairman
Bank of America has named CEO Brian Moynihan as chairmClick to continue
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Kansas Man Sentenced for HARP Fraud
Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Barry R. Grissom, U.S. Attorney for the District of Kansas, have announced that Eduardo Garcia Sabag, a...
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HUD Reaches $5 Million Settlement With Wells Fargo on Maternity Discrimination
The U.S.Click to continue
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MBA Inducts 17 Companies Into Its Hall of Honor Program
The Mortgage Bankers Association (MBA) has announced the induction of 17 companies into its Hall of Honor program.Click to continue
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Study: Most First-Time Homebuyers Confused About Mortgage Process
While the number of first-time homebuyers continues to decline, many of the remaining neophyte property purchasers complain that they are having problems understanding how the mortgage origination...
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