Bank of America announced it has begun mailing letters to the first wave of up to 200,000 homeowners who are eligible for …
Mortgage Settlement
‘No Runaround’ Mortgage Rules Proposed by CFPB
The Consumer Financial Protection Bureau is taking aim at the mortgage industry again, this time focusing on making mortgage servicers provide customers with better and more transparent information about their home loans. The CFPB is unveiling a series of proposed rules for the industry, which it will formalize this summer and implement …
Bank of America Mortgage Settlement: Big Banks Could Be Forced to Repay $45 Billion
Eight months ago, when approached by investors to repay a portion of their losses in mortgage bonds, Bank of America CEO Brian Moynihan said no way. He said that his firm had followed the rules and that he was going to fight this …
