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The 2010 United States foreclosure crisis, sometimes referred to as Foreclosure-gate or Foreclosuregate, [1][2] refers to a widespread epidemic of improper foreclosures initiated by large banks and other lenders. The foreclosure crisis was extensively covered by news outlets beginning in October 2010, and several large banks—including Bank of ...
Just when it looked like the Ally Financial/GMAC Mortgage robo-signing drama couldn't get any more, well, dramatic -- it did. Last week, the fourth-largest mortgage lender in America revealed that ...
Bank of America Home Loans is the mortgage unit of Bank of America. It previously existed as an independent company called Countrywide Financial from 1969 to 2008. In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion. In 2006, Countrywide financed 20% of all mortgages in the United States, at a value of about 3. ...
Bank of America (BAC) plans to halt foreclosure sales across the nation, as it reviews whether it handled its foreclosure documentation and procedures properly, the banking giant said Friday.
With the news that Bank of America (NYS: BAC) is on track to notify more than 200,000 mortgage loan customers of their possible eligibility for principal forgiveness, the whole messy foreclosure ...
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. [1][2] Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower ...
The foreclosure halt came amid concerns that company executives may have signed documents. Bank of America (BAC) is preparing to resume foreclosures in 23 states, just 10 days after halting the ...
Donna Lewis. Kenneth D. Lewis (born April 9, 1947) is the former CEO, president, and chairman of Bank of America, currently the second largest bank in the United States [1] and twelfth largest by total assets in the world. [2] While CEO of Bank of America, Lewis was noted for purchasing the failing companies Countrywide Financial and Merrill ...
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