stlouismortgage's posterous http://stlouismortgage.posterous.com Most recent posts at stlouismortgage's posterous posterous.com Tue, 26 Jul 2011 05:32:12 -0700 St Louis Mortgage Refinancing and Loans: Bank Of America Accused Of Hiding Foreclosure Details http://stlouismortgage.posterous.com/st-louis-mortgage-refinancing-and-loans-bank http://stlouismortgage.posterous.com/st-louis-mortgage-refinancing-and-loans-bank

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St Louis Mortgage and Real Estate News –

St Louis Mortgage Lending and Home Loan News: Hacker Claims Bank of America Hid Mortgage Errors
St Louis Home Mortgage and Commercial Loans | Principal Loan Reduction
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Reduction

A hacker organization known as Anonymous released on Monday a series of e-mails by a former Bank of America (BOA) employee who claims they show how a division of the bank hid foreclosure information.

The bank unit, Balboa Insurance, which deals in force-placed coverage, was acquired by Bank of America when it bought the mortgage lender Countrywide in

2008, and the e-mail messages involve removing information linking loans to certain documentation.

The e-mails dating from November last year reveal a correspondence among Balboa employees in which they move to hide the record of certain documents "that went out in error." The documents were tied to loans by GMAC, a Bank of America client, according to the e-mails.

"The following GMAC DTN's need to have the images removed from Tracksource/Rembrandt," an operations team manager at Balboa wrote. DTN refers to document-tracking number, and Tracksource/Rembrandt is an insurance-tracking system.

The response he receives: "I have spoken to my developer and she stated that we cannot remove the DTN's from Rembrandt, but she can remove the loan numbers, so the documents will not show as matched to those loans."

Removing the loan numbers from the documents, according to the e-mails, was approved. A member of Anonymous said in an interview that the purpose of his Web site was to bring attention to the wrongdoing of the banks.

"The way the system is, it's made to cheat the average person," he said. A Bank of America spokesman told Reuters that the documents had been stolen by a former Balboa employee, and were not tied to foreclosures.

"We are confident that his extravagant assertions are untrue," he told the news service. But with such a serious accusation, what else could there response actually be.

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Articles and News Sponsored by Liberty Lending Consultants

When applying for any type of St Louis mortgage or refinancing, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at (314) 336-9111 and ask for Steve Swan or Doug Stahlschmidt.

Business Owners: Call us at (314) 334-0210 and retain us for one of the best commercial loan modification and principal loan reduction programs available. A principal reduction or loan modification can help if you are underwater with negative equity. As commercial lending and loan modification program consultants, Floyd Tapia and his lending and legal team can focus on bringing you innovative private lending solutions to meet all types of financing needs. We have access to the largest portfolio of private lending institutions and investor backed funding sources available.Let us turn your challenges into closings (or from being underwater equity wise) and help you get a St Louis commercial lending, mortgage or financing loan. 

Sponsored by: St Louis Mortgage, Lending and Refinancing 877-334-0210 Member of the Better Business Bureau Check back daily for more financial news.

We Are Now On Google Maps!

St Louis Mortgage: Scan the below code with your smartphone for more details on the best home mortgage, commercial lending and financing and the best principal reduction program available.

 

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ARE YOU UPSIDE DOWN ON YOUR HOME?
ARE YOU FACING FORECLOSURE?

What if you could substantially reduce your existing mortgage debt balance in as little as 90 days with one simple application or even get a reduced mortgage principal settlement due to common errors found in 85% of mortgages?

Principal Reduction Program: Watch These Shocking Mortgage Fraud Videos...

You can save your home or business and put a foreclosure stop on the process. A principal reduction or loan modification can also help if you are underwater with negative equity.

Take action now in order to save your home. Waiting will not help. It will only make your situation worse. This book shown below will take you step-by-step on how to properly fix your mortgage.

Visit our principal reduction and loan reduction website for your FREE loan audit and loan review today!

Before you hire an expensive attorney, do your due diligence first and educate yourself so that you make the right decision for you and your family.  

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Mon, 20 Jun 2011 14:46:00 -0700 St Louis Mortgage Loan and Finance Lending: Bank of America Is Settling http://stlouismortgage.posterous.com/st-louis-mortgage-loan-and-finance-lending-ba http://stlouismortgage.posterous.com/st-louis-mortgage-loan-and-finance-lending-ba

Commercial Lending and Commercial Lenders 877-334-0210

St Louis Mortgage and Real Estate News –

St Louis Mortgage Lending and Loan Modification: Bank of America Settles For $3 Billion Dollars
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program
877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Reduction Advocate

Bank of America (BOA) said that it paid nearly $1.3 billion to Freddie Mac and more than $1.3 billion to Fannie Mae on December 31, 2010 to resolve a faulty mortgage loan dispute involving Countrywide Financial Corp.

The $2.6 billion worth of payments to Freddie and Fannie, combined with potential losse on future repurchases from government-sponsored enterprises, adds up to $3 billion in expenses, according to St Louis loan experts.

Bank of America also expects to take an additional $2 billion charge to fourth-quarter results from

the decline in the mortgage business, bringing the total impact to the company to $5 billion.

"Our goals remain the same: put these issues behind us; focus on serving customers and clients; and continue to help distressed homeowners facing difficult times," said Bank of America Chief Executive Brian Moynihan.

The deals with Freddie Mac and Fannie Mae don't cover loan servicing obligations, other contractual obligations or loans contained in private label securitizations.

But the agreements are a sign that the bank is working quickly to deal with buyback claims.

Fannie Mae said in a statement that the Bank of America deal was a "fair and responsible resolution" of the outstanding claims.

The company said the agreement accounts for about 44 percent of the $7.7 billion in repurchase requests outstanding with all of its seller servicers as of September 30, 2010.

=============================================

Articles and News Sponsored by Liberty Lending Consultants

When applying for any type of St Louis mortgage or refinancing, call Liberty Lending Consultants, the recognized St Louis home loan and refinancing experts, at (314) 336-9111 and ask for Steve Swan or Doug Stahlschmidt.

Business Owners: Call us at (314) 334-0210 and retain us for one of the best commercial loan modification and principal loan reduction programs available. A principal reduction or loan modification can help if you are underwater with negative equity. As commercial lending and loan modification program consultants, Floyd Tapia and his lending and legal team can focus on bringing you innovative private lending solutions to meet all types of financing needs. We have access to the largest portfolio of private lending institutions and investor backed funding sources available. Let us turn your challenges into closings (or from being underwater equity wise) and help you get a St Louis commercial lending, mortgage or financing loan. Sponsored by: St Louis Mortgage, Lending and Refinancing 877-334-0210 Member of the Better Business Bureau Check back daily for more financial news.

We Are Now On Google Maps!

St Louis Mortgage: Scan the below code with your smartphone for more details on the best home mortgage, commercial lending and financing and the best principal reduction program available.

To "read" the boxy black-and-white bar code above, you'll need a smartphone. If you need a reader APP, you can => Download a QR code APP reader here.

=============================================

ARE YOU UPSIDE DOWN ON YOUR HOME?
ARE YOU FACING FORECLOSURE?

What if you could substantially reduce your existing mortgage debt balance in as little as 90 days with one simple application or even get a reduced mortgage principal settlement due to common errors found in 85% of mortgages?

Principal Reduction Program: Watch These Shocking Mortgage Fraud Videos...

You can save your home or business and put a foreclosure stop on the process. A principal reduction or loan modification can also help if you are underwater with negative equity.

Take action now in order to save your home. Waiting will not help. It will only make your situation worse. This book shown below will take you step-by-step on how to properly fix your mortgage.

Visit our principal reduction and loan reduction website for your FREE loan audit and loan review today!

Before you hire an expensive attorney, do your due diligence first and educate yourself so that you make the right decision for you and your family.

Permalink | Leave a comment  »

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