Financial of The united states to boost mortgage loan modification staffing
Financial out of America Corp. advised 2,500 home loan origination staffers this week that they was reassigned so you’re able to loan modification obligations, two weeks pursuing the bank assured Congress to add greatest services in order to disturb consumers just who needed assist in to avoid foreclosure.
The trouble attempts to address a chronic criticism off consumers trapped in the step three-year-old foreclosures drama: getting bounced away from bank personnel so you’re able to employee while they attempted to work out a way to remain in their homes, usually are informed different things about their instance inside for every single discussion in the act.
Lender out of The united states, the fresh new monster Charlotte, N.C., financial, turned into the largest servicer of home loans inside the 2008, if it received Calabasas-founded Countrywide Economic Corp., the fresh new aggressive Zero. step 1 home loan company. BofA emerged significantly less than fire history times in the an effective Senate Banking Committee reading toward financial maintenance, which is the company away from battery charging, meeting costs and you will handling delinquencies and property foreclosure on the home loans. (more…)
