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Home » News » BofA Faces Hurdles With Servicing Portfolio
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BofA Faces Hurdles With Servicing Portfolio

October 11, 2013
Nearly three-fourths of mortgages in Bank of America’s foreclosure review pipeline are on hold due to various regulatory and process delays, according to a new analysis by Moody’s Investors Service. The delays have caused foreclosures at the bank to last sometimes up to a year longer, on average, than foreclosure timelines for Freddie Mac. As of the end of August, Moody’s said BofA had 115,000 loans scheduled for foreclosure review. “Over 72 percent of the population was non-workable inventory because of ...
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