Bank of America Home Loans

case, company is plural and the country that took those extreme measures was the United States of America. The 2007-2009 financial crisis caught the world by surprise and led to a renewed interest in understanding the inner workings of our financial systems and the consequence of not abiding by the governmental rules put in place to regulate those financial systems. With the collapse of investment bank powerhouse, Lehman Brothers in 2008, the worst financial crisis since…

threat the bank has faced is intense government regulations such as The Dodd Frank Wall Street Reform and Customer Protection Act, signed by President Obama, and is expected to greatly increase the fees all financial intuitions pay. JP Morgan Chase also faced regulation from The Federal Reserve Board when they established the Consumer Financial Protection Bureau, which has placed restrictions for lenders on credit cards, mortgage loans, student loans, and auto loans. Another threat the bank…

operations, and enhancing government practices. Wells Fargo abandoned its sales goals, assigned new management and paid back millions in refunds to ensure their reputation. Total of $6.1 million they paid to refund customers for its fraudulent bank accounts. The bank also paid $910,000 to refund customers for the improper online bill enrollments. Additionally, Wells Fargo also agreed to a $142 million settlement to cover fake accounts. The company’s senior management has taken many actions to…

The Wells Fargo fraudulent account case started forming during September 8th of 2016. Wells Faro Bank was accused by the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency and the Los Angeles City Attorney. The firms claimed that Wells Fargo during 2011 and 2016 created additional fraudulent bank accounts for pre-existing customers. Signing up over 2 million customers for new credit cards and fees that they were unaware of. The fraud allegedly resulted from our…

legally registered as Panthers Stadium, LLC.[6] The Panthers are supported throughout the Carolinas; although the team has played their home games in Charlotte since the completion of their stadium in 1996, they played home games in Clemson, South Carolina, during their first season, and they host their annual training camp in Spartanburg, South Carolina. At home games, the atmosphere has been described as comparable to that of other NFL teams, with some games playing host to a large number of…

Greg Hardy wants to pursue an MMA career. In 2013 Greg Hardy was an elite NFL pass rusher. He had a Career- best 15 sacks and was selected to the Pro Bowl. It looked like Hardy could be the NFL’s next elite pass rusher. However, the following two seasons turned out to be a whirlwind of arrests and accusations. It all started in 2014 when images of Greg Hardy’s girlfriend, Nicole Holder, surfaced. The graphic images show a bruised Holder after she was allegedly beaten by Hardy. The…

Countrywide was cofounded by Angelo Mozilo in 1969. In the early 2000’s Countrywide Mortgages became the largest provider of home loans in the United States. At that time one and six mortgage loans originated with Countrywide. In 1993 mortgages loans reached the one trillion-dollar mark. Countrywide Mortgages was the primary provider of loan to minority in the United States. Mortgage loans to minority had special stipulations. This is the perfect example of how greed in a company affects its…

could no longer flip their homes for a snappy benefit, adjustable rates contracts balanced skyward and home loans no longer got to be distinctly moderate for some property holders, and a large number of home loans defaulted, giving investors and money related foundations the shaft. It brought on monstrous misfortunes in home loan sponsored securities, and many banks and venture firms started bleeding money (John Bellamy Foster). It also brought about an overabundance of homes available which…

They didn't lose their health. They didn't lose their marriage. Those are the three factors that cause foreclosure. They left their home because the values went below the mortgage. That's what caused the problem,’ Mozilo said…” (John Carney) This quote from former Countrywide CEO, Angelo Mozilo, shows either how out of touch he was with the reality of what he did or the several moral…

the loss of wealth decreased consumer spending we experienced extensive job loss, “In 2008 and 2009, the U.S. labor market lost 8.4 million jobs, or 6.1% of all payroll employment” (Working America). Causes of the Great Recession include the bursting of the housing bubble, rising inequality, the loosening of bank lending rules and the corresponding rise in consumer debt, and the rise of mortgage securitization with too little regulatory oversight.…