BAC death watch

this freaking bank keep wasting money to sponsor those junks such as superbowl, mlb etc, but customer service keeps going down hill

Come on caonima, what kind of "customer service" do you really need?

why did you post as greensdale and then stop?

Clearly the government wants BAML to live, but this is interesting....

http://www.reuters.com/article/2013/10/23/us-bankofamerica-hustle-idUSBRE99M14B20131023

(Reuters) - Bank of America Corp was found liable for fraud on Wednesday over defective mortgages sold by its Countrywide unit, a major win for the U.S. government in one of the few trials stemming from the financial crisis.

After a four-week trial, a federal jury in New York found the bank liable on one civil fraud charge. Countrywide originated shoddy home loans in a process called "Hustle" and sold them to government mortgage giants Fannie Mae and Freddie Mac, the government said.

cream cheese?

"Hustle?" You mean there was some deception played? And where? Just in selling them to the GSEs? Or maybe in the origination process as well?

One day this will make for a fantastic book. Although very few people, relatively, will read it, or understand it.

More people, of course (although not all) understand the price of cream cheese.

aboutready, do the Hustle, girl: http://www.youtube.com/watch?v=A_sY2rjxq6M&list=RD02T8XWeiGQbqU

c0lumbiac0unty, go get a bagel for your cream cheese fetish. You are a sick puppy. Sick, sick, sick.

One good book already written about it is "All the Devils Are Here" by Bethany McLean and Joe Nocera.

If this were to have been investigated in a manner similar to the s&l debacle I'm fairly certain significantly more dirt would have emerged. Some of it has been uncovered, but I doubt the public will ever know the enormity and complicity involved in this mess. But I'll pick up the book, thanks for the heads up.

If this, I'm certain that ... but we don't know so we won't know.
Brilliant.

My favorite customer service story involves Bank of America. Exasperated with their inability to handle any routine matter by any means other than steering me towards our assigned banker, who seemed to be perpetually at lunch, I called to initiate wire transfer of bulk of accounts to another institution. After explaining to CSR that reason I was transferring bulk of funds to another instituion was Bank of America's poor customer service, the CSR did not hesitate before thanking me on the recorded line and asking me if he had resolved all my issues. I asked if wire was en route; he said in process; I said that yes, then he had resolved my issues by assisting me in getting funds into the hands of a more responsive institution. He then thanked me for banking at BofA.

Remember that time that Aboutready tried to get a subprime mortgage with Citi by putting down only 5% in the midst of the credit tightening and at the same time confusing the banker about her husband's interest in the law firm partnership. Now THAT was a difficult banking situation.

Wow, for someone who seems to follow my every post with a sick attention to detail you got the details of that very, very wrong. Pay better attention.

I had a business account with BofA because they were the one shop in town upstate. Horrible experience. I liked the people at Chase, but was kind of weirded out by all the people in my local branch greeting me by name. Mi like the anonymity of New York. I have had mixed experiences with Citi, but I have to say our private banker has really done an amazing job the last few years. I feel like Citi is really trying much harder these days re customer service.

So they were nice but still had trouble approving you for the mortgage, right?

No, jerk, their underwriting department had trouble understanding k-1s, and a minion at Citi totally dropped the ball but our banker took up our file and did much of the work himself. After Chase flaked out on us Citi got it done in less than three weeks. Chase was the problem bank (which asked for the same material three times, etc.) not Citi. And the loan, although conforming, is held by Citi. It's not even close to sub-prime. But thanks for playing.

Chase wasn't financially savvy enough to issue you a mortgage?

Prime loans have Loan to values less than 80%

and fully documented income with two years tax returns

"He then thanked me for banking at BofA". He left out the "Have a nice day" part of the script.

RS, you just can't stop being wrong, no? There are a few definition of not prime, and they don't generally include ltv. Usually it's credit score and likely ability to pay loan. Some define prime as any loan that the GSE's could (legitimately) purchase, and with conforming loans 20% hasn't been the standard in a long time. The Internet is your friend, do some research before you spout unfounded opinions.

No, hb, chase wanted 30% down for a unit that appraised over ask in a fully sold building. Although they were willing to finance a fifth-floor walk-up coop in a building in Harlem for only 10% down. And their underwriting department, at least the people working on our file, were imbeciles. They lost documents at least four times, asked for the same info numerous times, etc. At the end of the day it didn't matter, we got a 10% down loan with no PMI. But we wasted a fair amount of time with Chase, and barely got our loan in place in time.

you were a potential buyer of a 5th floor walk-up unit in Harlem?

Yes, a truly stunning apartment, with magnificent views. Lot-line windows that I only noticed at the last minute, that weren't disclosed as such. Luckily appraisal came in below offer, and I had an appraisal/financing contingency in the contract.

fieldschester: Yeah, right. Sure, of course. Naturally.

phew! Good thing AR, or your husband's hard earned money would have been wasted.

fuck you.

Truth, how cogent, coherent, demonstrative and believable. You define credibility.

uh, Truth hasn't posted for a whole day. obsessed much?

Oh, that's funny.

Still trying too hard.

wait, was it funny or was I trying to hard? You posted twice in contradiction.

Irony. Too subtle for you.

Too subtle but not subtle enough?