• Ocwen3.19+0.00 +0.00%
  • Zillow39.13+0.03 +0.08%
  • Trulia47+0 +0%
  • NationStar17.76-0.07 -0.39%
  • CoreLogic45.80-0.04 -0.09%
  • RE/MAX62.10+0.15 +0.24%
  • Fannie Mae2.83+0.03 +1.07%
  • Freddie Mac2.71+0.03 +1.12%
  • Wells Fargo54.015-0.235 -0.433%
  • CitiMortgage70.84-0.56 -0.78%
  • Bank of America24.76-0.26 -1.04%
  • Fidelity National Financial47.1901-0.4699 -0.9859%
  • First American49.27+0.08 +0.16%
  • Black Knight Financial Services44.00+0.30 +0.69%
  • AUDUSD=X0.7944+0.0011 +0.1450%
  • USDJPY=X111.5840-0.1280 -0.1146%
Home | Tag Archives: Bank of America

Tag Archives: Bank of America

OCC: Servicer Report Card

The Office of the Comptroller of the Currency released its first quarterly Mortgage Metric Report for 2017, detailing servicing data for seven major national banks. See how they fared compared to last quarter.

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Appeals Court Dismisses LA Case v. BofA, Wells

Suits claiming Bank of America and Wells Fargo engaged in discriminatory lending practices in the city of Los Angeles were dismissed this week by an appellate panel in New York. Filed by the city of LA, the suits alleged the two banks targeted minority buyers with more expensive and riskier loans than white borrowers. The appellate panel ultimately sided with the original district court rulings, which stated the city failed to establish a strong enough link between the bank’s policies and any racial disparity in local homeownership.

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BofA Capital Buffer Lags Behind

At the close of Q1, Bank of America had fallen behind its peers—at least in terms of its capital buffer. The bank came in last among major financial institutions, with just a 1 percent buffer for the quarter. Goldman Sachs took the top spot.

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BofA Fulfills Settlement Ahead of Schedule

The implementation of the settlement was successful in directing most of the consumer relief to those who needed it the most. The majority of consumer relief came in the form of mortgage loan modifications, 53 percent of which were in areas identified by the U.S. Department of Housing and Urban Development as part of Distressed Census Tracts, or Hardest Hit Areas. The settlement agreement also provided for resources to be directed to local organizations and legal assistance programs to help stabilize neighborhoods and provide foreclosure-prevention assistance and other housing-counseling activities.

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