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Tagged: Foreclosure

Business
6:26 am
Mon October 15, 2012

BofA Gets Praise From Housing Counselors

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Credit Julie Rose
Bank of America's Customer Assistance Center in Northeast Charlotte opened in October 2011.
Credit Julie Rose
Bank of America Customer Assistance Center General Manager Audie Cashion (l) and loan modification specialist Saleena Whitley (r).
Credit Julie Rose
Audie Cashion manages Bank of America's Customer Assistance Center in Charlotte where homeowners facing foreclosure can come for help working out their mortgage.
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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. 

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Business
12:51 am
Tue October 2, 2012

Big Banks Now Required To Improve Service On Home Loans

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Bank of America
Credit Office of Mortgage Settlement Oversight
Joseph A. Smith, Jr. was appointed monitor of the mortgage settlement.
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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.

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Business
11:59 am
Wed September 26, 2012

Charlotte Companies Sued For Foreclosure Fraud

Two Charlotte-based foreclosure assistance companies, Community Mortgage Assistance Program and Lender Exchange were sued by North Carolina Attorney General Roy Cooper for foreclosure fraud.
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The North Carolina Attorney General’s office filed a lawsuit against three mortgage loan modification companies on Friday. Two of the three companies are based in Charlotte.

According to the lawsuit, one of the companies, Community Mortgage Assistance Program, charged customers up to $1,500 in advance. 

Koy Chiu is executive director of the company. On her website, Chiu advertises: “TIRED OF MODIFICATION SCAMS?! KNOWLEDGE IS POWER! SAVE YOUR HOME TODAY!”.

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