All Entries Tagged With: "Bank of America Corp"
Bank of America & Citibank report rise in mortgage defaults
According to data compiled by Citibank, Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM) and other large US financial institutions, the amount of home mortgage borrowers that are defaulting after their mortgage loans are modified are continuing to rise, it’s also noted that there is no sign of the rising
Merrill Lynch & Co. losses and acquisition by Bank of America Corp
On Friday shareholders approved Bank of America Corp (NYSE:BAC) takeover of failed Securities firm Merrill Lynch (NYSE:MER), the deal will create banking giant in the financial system leading in most major areas, although the deal is highly risky.
Merrill Lynch agreed the to the merger with Bank of America Corp just one hour after Wall
Countrywide Financial Corp is being sued over $8.4 Billion Loan Deal
Greenwich Financial Service Fund sued Countrywide Financial Corp, the troubled home lender that Bank of America (NYSE:BAC) recently brought over claims an agreement to reduce payments on mortgages by $8.4 billion would hurt investors.
The fund said that 400,000 mortgages will decline under the deal, and that investors
Countrywide workers fear Bank of America Corp will cut severance
Many workers at Countrywide Financial Corp now face the worry that new owners Bank of America Corp will force them in to an awkward position with their severance benefits; this means that many could end up losing their severance benefits.
The company have the Countrywide Change of Control Severance Plan