November 2012

There are 1 blog entries for November 2012.

BofA offers 30,000 borrowers $4.75 billion in principal reductions

Wednesday, November 14th, 2012 at 5:14pm. 12551 Views, 0 Comments.

  By Kerri Ann Panchuk • November 14, 2012 • 11:36am

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

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