Bank of America Home Loans

Countrywide Home Loans The Company, Customers, History, Products, Services, and State Countrywide Home Loans (Countrywide HL) primarily provide, service, and sell mortgage loans. Mortgage loan and after-loan servicing include service such as collections and payment processing. As a leader in the mortgage industry, they provide these products and services to homeowners through prime and subprime mortgage loans and subsequently resell these loans to investors. In 2009, the United States (US) Treasury Department (Treasury) invested (i.e., US taxpayer-based funding) in Countrywide HL under the Treasury’s 2009 Troubled Asset Relief Fund (aka TARP.) (Source 1) In 1969, David S. Loeb (1924 - 2003) and Angelo Mozilo (1938 -) founded Countrywide with…

Case of Eileen Foster v. BofA and Countrywide The story starts March 7, 2007. Eileen Foster was promoted to Executive Vice President, Fraud Risk Management while she was working for the Countrywide Financial Corp. This role requires our whistleblower to supervise and monitor internal bank processes and mortgage fraud investigations, if needed, organize and send conclusion in the form of suspicious activity report to the U.S. Treasury as well as the board of directors. During her time, she…

Laufman contacted over a dozen savings and loan companies in the Greater Cincinnati area to find the lowest interest rates and closing costs. Yet, it was Oakley Building & Loan Company (Oakley B.&L. Co.) that held the lowest interest rates. After a referral from a friend, Robert called the vice president of Oakley B.&L. Co., George Downs, for a more comprehensive explanation of the loan process, the approval probability, and the definite costs. Oakley B.&L. Co. reassured the Laufmans that…

There is no better time to apply for an equity home loan. Of course, the value of real estate has dropped in the last year but it is starting to grow again and the market is so competitive that lenders are giving very good annual percentage rate and interest rate so maybe it is time you started looking for the lowest rate equity home loan. An equity home loan is basically a second mortgage in which your guarantee is your house, more exactly you equity, the amount between the value of your house…

Statement: At Bank of America, our goal is to be the global leader in financial services. We want to continue to grow and sustain the capabilities needed to help clients and customers meet their key financial goals. This mission statement is an accurate representation of the goals of Bank of America. The corporation is continuously growing through acquisitions. Bank of America actually started off as two separate banks, BankAmerica and NationsBank. Both of these banks experienced growth from…

Their wrongdoing has left other banks with the responsibility of maintaining trust with their current customers as well as previous Wells Fargo’s customers. Due to their actions, compensation regulations are under scrutiny and may be changed in the near future. Wells Fargo was the leading bank in cross selling. After scrutiny from the public and demanded fines from CFPB, the idea of cross-selling products plummeted because it became risky to do so. In spite of the negative risks that Wells…

communication effectiveness. The first national bank charter granted by the United States congress founded Wells Fargo on March 18, 1852. A prime example of external communication was the stagecoach which made doing business easy for the newly formed bank. The stagecoach symbolized the start of banking services that had a major influence through the Gold Rush and Great Depression which were two significant events in American history. Wells Fargo (2016) In the boom and bust economy of the…

AN ANALYSIS OF THE WELLS FARGO ACCOUNT SCANDAL INTRODUCTION Paying bank fees may be one of the most annoying, unwanted situations customers experience in the banking system. Imagine the fees paid suddenly becoming multiplied, and you were paying for accounts you didn’t even sign up for. For Wells Fargo customers, this nightmare became a harsh reality. The 185 million dollar Wells Fargo Bank account scandal began in 2011 and was revealed to the public five years later after…

to pay credit card bill while she is boxing. The good thing is that she is using the Citi Bank Simplicity card. It also says it is the only card that users don’t need to pay annual fee, late fee, and penalty rate. The intended audiences for this advertisement are people who might have same problems as Erica. By giving these new services, the commercial can persuade the audiences to change their credit cards. I believe that there must be a lot of people forget to pay their credit card bill, so…

The Bank of America (BofA) is one of the leading national banks in the United States. Founded as the Bank of Italy in 1904, then later renamed as BankAmerica Corp. They merged with a company called the NationsBank in 1988 and in 1990 renamed the bank to Bank of America. In recent years BofA has grown into a leading company. They were able to acquire 5 different companies to expand their business model, allowing them to have over 82% of the U.S. population market by 2009. They held leadership…