Posted by Teresa Guerra on 8/23/07 12:35pm
Msg #207239

Bank of America & Countrywide

Just heard BOA invested 2 billion in Countrywide. Any thoughts on it affecting SA's. BOA does in house closings.

Reply by Becca_FL on 8/23/07 12:39pm
Msg #207241

Thanks, but it has already been posted. n/m

Reply by Becca_FL on 8/23/07 12:44pm
Msg #207243

Hit enter too soon...

"This investment reflects our confidence in their business and recognizes the importance of the company in providing home financing across the country," Bank of America Chief Executive Officer Kenneth Lewis said in a statement late Wednesday. "We hope this investment will be a step toward a return to more normal liquidity in the mortgage markets."

BOA is simply investing in CW, they are not taking over operations or merging. The financial backing should not change the way CW does business. With that said, I have heard rumor that CW will no longer allow closings in the borrowers home ***THIS IS JUST RUMOR*** and that CW will require borrowers to come into CW offices.

Reply by Tom_AZ on 5/29/09 10:58pm
Msg #290478

Did two signings with Bank of America this past week and in both cases the TILt did not have the borrower's name listed indicating a signature was required. Was told to draw a line and have the borrowrs sign. Doesn't B/A know that the TILT document calls for the borrower's signature and date? Or am I missing something?