FINANCIAL SERVICES

BofA lags on implementing foreclosure changes

BLOOMBERG FILE PHOTO/JIN LEE
BANK of AMERICA Corp., which is responsible for the largest share of a $25 billion foreclosure settlement reached earlier this year, has extended only $2.8 billion so far.
Posted 8/30/12

BOSTON – Bank of America Corp. has been lagging in carrying out changes required by a $25 billion foreclosure settlement, the Boston Business Journal reported.

Bank of America – the country’s second largest bank – is responsible for the largest share of the $25 billion settlement reached earlier this year, but has only extended $2.8 billion.

According to the news source, through June, Bank of America offered roughly $2 billion in loan forgiveness and made about $800 million in loan-balance cuts in trial modifications for 18,000 borrowers.

No comments on this story | Add your comment
Please log in or register to add your comment
Calendar
PBN Hosted
Events

Register today for the First Annual PBN Manufacturing Awards Dinner and Ceremony, Thursday, April 24th, at the Bryant University Bello Center. Click here for more information, including the list of winners.
  • Business Women
    Accomplished. Confident. Wicked Smart. Nominate women you know who deserve speci ...
  • 40 Under Forty
    It's the 10th Anniversary of 40 Under Forty, and PBN is planning a special event ...
  • Healthiest Employers
    Enrollment now open for the 2014 Healthiest Employers Program. Please take a mom ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News