Scandal at Bank of America

12/22/2015
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The headlines have Bank of America in the middle of a scandal once again, but is it really anything new?  Not how we see it.

Comments

comments

Comments
  • Bank of America and others accepted the bail out from the government with the condition that they would do loan modifications. I tried to do several short sales
    and both the the buyer and seller were jerked around by the banks. It was Obvious they were trying not to process them. It was dishonest and paid for by the tax payers. Keep in mind, in most cases they were the servicing the loan. As far a capitalism, in all cases I was involved in, the failure to act on the short sale ended in the loan recouping much less. They would not process the short sale at $120,000 and then foreclose and end up netting $70,000 or less. Everyone was ripped off. Capitalism should never trump honesty.

    Stan Tashlik December 22, 2015 5:35 am Reply
  • You guys are nothing but propagandists and shills for the lending industry.

    Free Speech December 22, 2015 6:44 am Reply
  • OMG, your catching it from all directions…….. and you should be. BOA and et al used stockholders money to pay the executives way out of prison. Madolf is like a school child compared to what these guys did. And, no one has gone to jail? It is the American way and when people support these kinds of criminals it just invites more bad things. Shame on you!

    Robby Robertson December 22, 2015 7:47 am Reply
  • I enjoy your show, every day I can watch it. Keep up the good work. Some people just like to complain. Happy Holidays!

    Steve Romero December 22, 2015 8:34 am Reply
  • You 2 are miles off the rails on this one. You guys are waving the banner of capitalism while defending this for profit company while conveniently leaving out all they did to get themselves into the bailout situation, not to mention the lies, deceit, over-indulgence into subprime, derivatives and CDSs, among others. You 2 have become the poster boys for the Big Banks without regard to any of their behavior or actions. You justly criticize the CFPB for being unreasonable and outright overbearing but you think we are dumb enough not to know what the banks actually did, and do, wrong. The Big Banks weren’t, and aren’t, innocent and without blame, especially with short sales and mods. So what if 6 former employees were the whistleblowers. You think they would be in court if they were still employees? How many viewers here are former employees of a job or company and know their employer was dirty, wrong, and cheated. I for one have worked for bad employers that cheated customers and employees. Your stance on BofA and the big banks is not only wrong but makes it harder for me and my brokerage to take you serious at all.

    Dustin December 22, 2015 9:38 am Reply
  • You should learn more about your audience and how Realtors and mortgage lenders actually feel about the big banks, especially BofA. Just because we are in this industry doesn’t mean we defend every single entity on this side of the fence. The CFPB may be drunk with power and deserves sharp criticism and needs change, but that doesn’t mean some for-profit companies are not still lying and cheating their customers and/or employees.

    Dustin December 22, 2015 9:51 am Reply
  • Does anyone out there feel that BOA has paid for their crimes? Not until the consumers they deceived are made whole again. I won’t hold my breath. And Frank & Brian, you are defending a bank that is one of the major reasons for loan originators having their compensation reduced. Mull that around. You’ve lost focus.

    Divedude December 22, 2015 10:25 am Reply
  • Unbelievable…. I live in a capitalist country and I get the independent, work hard, pull yourself up by the boot straps mentality. Hell I built my company on it, but to excuse blatant mismanagement of money, which was the initial downfall of the banks, is folly. You cannot hide all transgressions under the capitalism blanket fellas and Shame on You.

    James K Moore December 22, 2015 11:05 am Reply
  • You guys went from – ” THINK BIG – WORK SMALL” to think small – WORK BIG *for the big banks :(

    The Adams Group December 22, 2015 4:04 pm Reply
  • I agree with Frank & Brian. The “Home Owners” did not make their payments and therefore should be foreclosed on PERIOD. Also I helped many many families do short sales. I had nearly 100% success ratio, including working with BofA. You just have to work the system and know what you are doing. I loved it when other agents whined about it because it just meant more closed short sales for me.

    Jason Mayfield December 23, 2015 8:05 am Reply

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