Relevant:
- Bank of America hasn't modified any mortgages so far under settlement
- Bank Of America Hasn't Modified Any Mortgages, As It Had Agreed To
- Banks report $51 billion in consumer relief in mortgage settlement
- Regulators: Wells Fargo, Chase, U.S. Bank still fail mortgage service tests
- Bungled Bank Bailout Leaves Behind Righteous Anger
2012-08-16 — bloomberg.com
The lender blamed the "time required to underwrite" loans for why it hasn't completed many of its planned $1 billion in modifications, according to a filing earlier this month. By contrast, JPMorgan Chase & Co. (JPM) said last week it has already finished a "significant portion" of its $500 million program and Wells Fargo (WFC) & Co. said it expected to complete its $900 million requirement two years ahead of the 2015 deadline.
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