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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 ...
Direct successor of the Bank of North America, the first bank in the United States CoreStates Financial Corp. Wells Fargo: 1990 First Union Corporation: Florida National Bank First Union Corporation: Wells Fargo: 1990 Citizens & Southern National Bank: Sovran Financial Corp. C&S/Sovran Corp. Bank of America: 1991 Fleet/Norstar Financial Group, Inc.
Updated July 14, 2016 at 9:11 PM. Countrywide's Mortgage Document Errors May Doom Bank of America. Testimony in a New Jersey foreclosure case decided last week may spell big trouble for Bank of ...
In 2013, the jury found Bank of America liable for selling Fannie Mae and Freddie Mac thousands of defective loans in the first mortgage-fraud case brought by the U.S. government to go to trial. [40] The civil verdict also found the bank’s Countrywide Financial unit and former Countrywide executive Rebecca Mairone liable. [41]
As one of the largest financial institutions in the United States, Bank of America has a lot to offer. The range of personal and business account options is impressive, and the availability of ...
As the documents are labeled "Ex Bank of America Employee Can Prove Mortgage Fraud 1," but the information thus-far revealed doesn't really involve mortgage fraud, perhaps a "Part 2" will include ...
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 (NYS: BAC) is the target of a $1 billion lawsuit filed today in Manhattan on behalf of the U.S. Justice Department, alleging fraudulent loan practices. The lawsuit seeks to recover ...