BofA Rolls Out $8.4 Billion Loan Mod Program

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Bank of America Mortgage Rates Are Fairly Competitive.. but perhaps reaching out to BofA as opposed to waiting for them to call might be the move, especially if you can get a principal reduction and a lower fixed rate.. I’ve only known about the program. If it’s a 30-year loan with a.

The move makes Bank of America (BAC, Fortune 500) one of the first major loan servicers to systematically incorporate the controversial loan modification technique into its home retention program.

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Tierney, director of the National State Attorneys General Program at Columbia Law School. Financial Corp., which agreed with new owner Bank of America to grant loan modifications worth $8.4 billion.

Bank of America is one of the world’s largest banks. The bank had $2.11 trillion in assets as of December 2014. It is "one of the country’s most extensive branch networks," according to Hoover’s, and has been one of the biggest lenders (though its top position suffered in 2012 after billions in mortgage losses).

Bank of America, for example, had completed only 98 modifications at the end of November, far fewer than several smaller rivals. GMAC Mortgage completed 7,100, the most of any lender in the program ..

Mortgage Modification and Refinance Programs. that Bank of America now manages the Countrywide loan portfolio and is moving to restructure mortgages as part of an $8.4 billion. A Bank of America spokesman says the bank will roll out the foreclosure prevention program to all fifty states.

Infinite Banking 101: Live Webinar #2 | Policy Loans “Bank of America has extended more relief under the National Mortgage Settlement to customers in need of assistance than all other servicers combined, representing nearly 60% of relief across the.