Tag: Bank of America

Mortgage Servicing Settlement Reached

February 9, 2012.  Today government officials, including  Attorney General Eric Holder, announced a $26 billion settlement with five banks to settle allegations of mortgage servicing and foreclosure processing errors. The agreement, reached with Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc., Wells Fargo & Co., and Ally Financial Inc., resolves allegations related to foreclosure practices in 2009 … Continue Reading

Bank of America Sues Old Republic Title Insurance for Denying Mortgage Claims

Law360 reports that Bank of America has filed a bad faith insurance practices lawsuit against mortgage insurer Old Republic Insurance Co. over denied mortgage claims.  The Complaint, filed in the U.S. District Court for the Western District of North Carolina, alleges that Old Republic improperly turned down hundreds of millions of dollars in valid mortgage insurance claims "for reasons … Continue Reading

More Struggles for SEC’s Case Against BOFA

The Wall Street Journal has reported that on Monday evening, U.S. District Judge Jed S. Rakoff of the Southern District of New York denied the SEC’s motion to expand charges against Bank of America in connection with the company’s 2009 merger with Merrill Lynch. A previously filed SEC suit accused the bank of concealing plans to pay … Continue Reading
LexBlog