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Bank of America Accused of Mortgage Scheme ; Firm Accused of Keeping Alive a Program That Defrauded U.S. AgenciesThe government is suing the bank for $1 billion, saying it keptalive a program inaugurated by...By ProtessBen
According toThe Wall Street Journal, Bank of America (BAC) has reached a record $17 billionsettlementwith the U.S. Department of Justice [DOJ] to resolve claims over the toxic residential mortgage-backed securities the lender issued in the run-up to the 2008 financial crisis. The report says...
A postponement of home loan payments for a set period of time. Interest will still accrue but those payments can be deferred for an agreed-upon number of months. After that is over, the lender will develop a repayment plan to make the regularly scheduled mortgage payments while catching up ...
Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality mortgage-backed securities that went sour when the housing market collapsed.
The United States Circuit Courts of Appeals are split on how to calculate restitution in a criminal loan fraud situation where collateral is involved. This trend is best illustrated in cases involving mortgage fraud. The split stems from... A Durst - 《William & Mary Business Law Review》 被...
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In November 2023, Bank of America agreed to pay a$12 million fineto the Consumer Financial Protection Bureau for not asking mortgage applicants their race, ethnicity, and sex, and then saying the applicants didn’t provide that information. The government collects that info from lenders to ident...