bank of america: NACA, BofA, Citibank Team to Provide "Wealth-Building Loans"
- 01/26/15 07:27 AM
A fifteen year mortgage loan with no down payment, no closing costs, no mortgage insurance, a fixed interest rate of 2.5% (that can be bought down), and borrowers that are less than three years out from a short sale - sounds unbelievable doesn't it? The Neighborhood Assistance Corporation of America ("NACA") has teamed up with Bank of America ("BofA") and Citibank to provide such loans to home buyers according to a report in The Pueblo Chieftain that was brought to the forefront by National Mortgage Professional Magazine. The loan product was originally developed by American Enterprise Institute and is referred to as a … (9 comments)
bank of america: All In A Day's Work!
- 12/18/14 03:26 AM
It is being reported by Reuters that the whistleblower who sued Bank of America ("BofA") for fraud concerning bad loans that were sold by BofA and Countrywide Financial will receive compensation in the amount of $57 million. The whistleblower, Edward O'Donnell, has actually filed two suits alleging fraud by Countrywide, one being the famous "Hustle" case (which is on appeal by BofA) for which O'Donnell has not yet received any award, and a second suit against a unit of Countrywide Financial for defrauding Fannie and Freddie, which netted him the reported compensation. O'Donnell provided information to state and federal officials … (10 comments)
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Randy Kirsch
(NMLS# 1012303) Your Dedicated Mortgage Consultant
A fifteen year mortgage loan with no down payment, no closing costs, no mortgage insurance, a fixed interest rate of 2.5% (that can be bought down), and borrowers that are less than three years out from a short sale - sounds unbelievable doesn't it? The Neighborhood Assistance Corporation of America ("NACA") has teamed up with Bank of America ("BofA") and Citibank to provide such loans to home buyers according to a report in The Pueblo Chieftain that was brought to the forefront by National Mortgage Professional Magazine. The loan product was originally developed by American Enterprise Institute and is referred to as a … (9 comments)
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