PDA

View Full Version : Bank Of America to Shut Down Lending Division.....


MMC
10-06-2011, 08:42 AM
http://news.yahoo.com/bank-america-shut-down-lending-division-192049491.html

NEW YORK (AP) — Bank of America is closing down one of its mortgage units.

The Charlotte, N.C. bank put its "correspondent lending" business up for sale on Aug. 31. It couldn't find a suitable buyer and has decided to close the business by the end of the year, said bank spokesman Terry Francisco.

The division financed mortgage loans from small lenders such as credit unions.

Bank of America has been shedding assets in an effort to focus on its core banking business.....snip~

Does this bother anybody that BOA is shutting down all these money making assets? Dont bother me one bit in the least. So now you know why they are looking to Charge for debit cards and other fees they can. Hope they go out of Buisness. Someone should twitter Boycott BOA! >:(
Conley
10-06-2011, 08:44 AM
It must not be making any kind of profit any more. When they were repackaging mortgages and debt and using that to leverage even more debt that's when they were clearing hundreds of millions of dollars. Lucky for them they didn't have to give any back.
Mister D
10-06-2011, 11:24 AM
I got a loan very quickly through my agent's real estate office. They hooked me up with their bank and it took 24 hours. Lending Tree sat on my application and declined it about 3 or 4 days before my closing. I was livid. I emailed top level people there. I kept it polite but I really let them know my thoughts. I bash them whenveer i can.
Mister D
10-06-2011, 11:24 AM
They've made an enemy.
Pendragon
10-06-2011, 01:28 PM
It is good to see Americans finally recognizing that they are being swindled. More and more and rising up against their oppressors!
Mister D
10-06-2011, 01:45 PM
It is good to see Americans finally recognizing that they are being swindled. More and more and rising up against their oppressors!


Swindled? It was just shitty service.
Pendragon
10-06-2011, 02:04 PM
It is good to see Americans finally recognizing that they are being swindled. More and more and rising up against their oppressors!


Swindled? It was just shitty service.


I was referring to the original post. More and more Americans are leaving the large banks behind. That is cause for celebration and also hurting their bottom line.

Not everything is about you, friend. I am pleased to note that you were not one of the victims in this sordid affair.