Bank of America ($9.14 -0.19%) approved 30,000 mortgage customers for principal reductions on first-lien mortgages with a total value of $4.75 billion as part of its consumer-relief mandate under the national mortgage servicing settlement program.
Bank of America executives participated on a teleconferenced update to the settlement.
They said that, through September, BofA completed or approved $15.8 billion in mortgage debt relief for 164,000 homeowners.
The progress report comes the same day that four other banks are expected to release their compliance updates with the national mortgage servicing settlement. The $20 bilion-plus…