Latest Comments

• BofA in record settlement with US over bias case

  Wed Dec 21, 2011
  • Colleen, I live in NEOhio, ground zero for Countrywide's misbehavior. This has been in our newspapers for years. Believe me, or don't. I KNOW Countrywide deserves this fine. BoA, they should have dug deeper into Countrywide's books before they bought, because they are now stuck holding the bag.

• BofA in record settlement with US over bias case

  Wed Dec 21, 2011
  • Really, You may believe that but when your neighborhood goes down the toilet and is one bank-owned, lawn unmowed, house unrepaired eyesore after another, you will find you property value went with theirs, and you can't sell.

• BofA in record settlement with US over bias case

  Wed Dec 21, 2011
  • Countrywide took applications that were identical in terms of risk and gave different mortgage terms based on race. This was true for middle class and poor minority applicants.

• BofA in record settlement with US over bias case

  Wed Dec 21, 2011
  • BlahBlah Countrywide purposely lent money to people under trems they knew they couldn't meat because they knew they would turn around and sell those mortgages the next day at a same profit. It was the buyers of the mortgage-backed securities who really got screwed.

• BofA in record settlement with US over bias case

  Wed Dec 21, 2011
  • This is not about the "poor." Countrywide took applications that were identical in terms of risk and gave different mortgage terms based on race. This was true for middle class and poor minority applicants.

• BofA in record settlement with US over bias case

  Wed Dec 21, 2011
  • Countrywide destroyed the market in NEOhio. They were fraudulent up one side and down the other. I'm happy to see them pay up. Actually it's too bad BoA bought them - they shouldn't have. If I owned BoA stock, I'd have been P-Oed

• BofA in record settlement with US over bias case

  Wed Dec 21, 2011
  • Colleen, The problem was they took 2 applications with the same credit score, the same income and liabilities and gave two very different loans to the applicants. Minority applicants and white applicants WITH THE SAME RISK were given different loans - over and over and over and over.

• BofA in record settlement with US over bias case

  Wed Dec 21, 2011
  • Max, They often refinance to pay for needed repairs, enter into reverse mortgages for needed money or sell to move to a warmer climate. So, yes they commonly deal with loan officers in banks, and in retirement on a fixed income, they can easily be given lousy rates, high fees, bad loans.

• BofA in record settlement with US over bias case

  Wed Dec 21, 2011
  • AKRandy Did you get turned down by multiple loan officers, or just one?

• BofA in record settlement with US over bias case

  Wed Dec 21, 2011
  • I bought 2 homes during this period and both times I had to INSIST on a 30-year fixed rate mortgage. The high pressure sales pitch was on in both cases. All about how your initial payments would be so much lower, blah, blah, blah.