BofA

BofA Shareholders Get Folksy Welcome

Julie Rose — Wed, 08 May 2013 20:29:30 +0000

Bank of America shareholders gathered for their annual meeting in Uptown Charlotte Wednesday morning.

Four years after the financial crisis, these meetings have settled into a familiar routine: a few dozen protesters wave signs outside while activist investors control the microphone inside. Today was no different, but the meeting did have a different atmosphere.

Latest Settlement Shows 'Light At The End Of The Tunnel' For BofA

Julie Rose — Mon, 07 Jan 2013 19:29:54 +0000

We've already established that Bank of America's 2008 acquisition of Countrywide was a costly move – and a mistake in the view of many. The Charlotte bank has spent tens of billions of dollars on settlements and losses tied to that mountain of messed-up mortgages. On Monday, Bank of America made some important progress.

Another day, another settlement - or really two, in the case of Bank of America. And these are far from the last we'll expect to see.

BofA Shines In Mortgage Settlement Status Update

Julie Rose — Mon, 19 Nov 2012 20:58:14 +0000

The nation's five largest mortgage servicers – including Bank of America and Wells Fargo – have so far provided more than $20 billion in homeowner relief under a settlement with state attorneys general. Bank of America shows well in the latest report.

The last status report in August had a big zero for the number of mortgages modified or partially forgiven by Bank of America under the settlement. The Charlotte-based bank now leads the other four banks, in those categories with around $3.7 billion in homeowner debts written off.

U.S. Sues BofA For $1 Billion For Mortgage Fraud

John Arwood and Ely Portillo, Charlotte Observer — Wed, 24 Oct 2012 19:03:36 +0000

Federal prosecutors in Manhattan sued Bank of America for $1 billion on Wednesday, alleging the bank defrauded government-sponsored mortgage giants Fannie Mae and Freddie Mac.

The lawsuit is the latest legal mire for the Charlotte-based bank, which has already agreed to pay billions of dollars to resolve other lawsuits.

BofA Gets Praise From Housing Counselors

Julie Rose — Mon, 15 Oct 2012 10:26:22 +0000

When Bank of America announces quarterly earnings this week, foreclosures and defaulting loans will once again be a key part of the equation.

The Charlotte bank has spent four years wading through a sea of troubled mortgages it took on with the 2008 acquisition of Countrywide. Along the way it's become a favorite target of vitriol - often landing on lists of "most hated institutions" in America.

But recently, WFAE's Julie Rose discovered some of the people on the front lines of the foreclosure crisis are softening toward Bank of America.

Big Banks Now Required To Improve Service On Home Loans

Julie Rose — Tue, 02 Oct 2012 04:51:54 +0000

Getting a mortgage modified should be significantly easier as of today - assuming five of the nation's largest lenders deliver on promises they made in a $25 billion settlement signed six months ago.

Today is the deadline for Bank of America, Wells Fargo, JP Morgan Chase, Citigroup and Ally Financial to implement hundreds of improvements to customer service for home loans.

Reports Of New BofA Layoffs Misleading

Julie Rose — Thu, 20 Sep 2012 20:25:07 +0000

Headlines Thursday were full of news that Bank of America will cut 16,000 jobs by the end of the year. But the headlines can be misleading.

These layoff reports give the impression that every few months there's another major bloodletting at Bank of America. In fact, this latest 16,000 number - and others we've heard in recent months - are all part of the same job cuts announcement Bank of America made last September - 30,000 jobs it said it would cut.

At that time, Bank of America CEO Brian Moynihan described a plan to get the bloated bank back to its fighting weight.

Anatomy Of A Protest

Julie Rose — Tue, 15 May 2012 22:31:54 +0000

http://66.225.205.104/JR20120515.mp3

BofA Meeting Attracts Large Protest

Julie Rose — Wed, 09 May 2012 22:31:54 +0000

http://66.225.205.104/Jr20120509a.mp3

Protests Converge On Bank Of America

Tanner Latham — Wed, 09 May 2012 22:31:54 +0000

http://66.225.205.104/TL20120509a.mp3