BofA deals with Countrywide foreclosure issues

11/1/2010 | Wall Street Journal, The

Bank of America employees at five offices across the nation are working their way through more than 100,000 foreclosure files with the aim of resolving any issues. Bank of America went from a modest role in the mortgage-servicing industry to a major player with the acquisition of Countrywide Financial in 2008. The move increased Bank of America's servicing unit from 4 million loans to 14 million. The takeover has forced Bank of America to deal not only with more foreclosure issues, but also with challenges related to technology, paperwork and cultural differences.

View Full Article in:

Wall Street Journal, The

Published in Brief: