Bank of America Stealing Homes

BofA: Will Work Quickly to Address Mortgage Issues Raised by NY Attorney General

Bank of America Corp. (BAC) said it will work quickly to address mortgage-borrower problems that New York Attorney General Eric Schneiderman alleged Monday.

“Attorney General Schneiderman has referenced 129 customer-servicing problems which we take seriously and will work quickly to address,” a spokesman for the Charlotte, N.C.-based bank said.

Mr. Schneiderman said Monday he plans to sue Bank of America and Wells Fargo & Co. (WFC), alleging they breached the terms of last year’s mortgage settlement.

In that $25 billion agreement among 49 states and the country’s five-largest mortgage servicers, the banks agreed to rules over how to conduct fair and timely service to homeowners applying for financial relief.

Write to Matthias Rieker at

–Schneiderman says his office may file litigation in matter of weeks

–Schneiderman: Bank of America and Wells Fargo are most flagrant violators of settlement

–Bank of America says it will work to address AG’s issues

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