Re: Bank Of America

[Tru Red]

I've been doing VA appraisals a long, long time.

It just dawned on me while reading another post elsewhere. I NEVER get anything from B of A for the VA.

It must have been 3 or 4 years. Everyone else......but no B of A.

Has anyone else noticed this? Doesn't B of A do any VA loans?

 

[RSW]

I've been on the panel for 2 years and have not received 1 order from B of A. I really nevery thought about it before.

 

[gregb]

Once in a while receive Chase and BoA VA orders, with more WF assignments, though diminishing.

 

[Tru Red]

Just thought it odd....one of the largest banks in the US and nothing in years. Plenty from Wells Fargo and occasionally Chase (which I cannot stand) but nothing from B of A.

 

[gregb]

https://www.bloomberg.com/news/arti...a-s-once-giant-mortgage-business-is-now-other

 

[Tru Red]

https://www.bloomberg.com/news/arti...a-s-once-giant-mortgage-business-is-now-other

Well, well. That explains a lot. They simply are not using their cash to supply mortgages to Americans buying homes. Kinda sad.

 

[djd09]

Four days after Bank of America shareholders voted to approve a merger with Merrill Lynch, Timothy J. Mayopoulos, the bank’s general counsel, was summoned to an executive suite.

There, Bank of America’s chief risk officer told Mr. Mayopoulos that he was no longer needed at the company, but she gave no explanation of the unexpected dismissal, according to two people briefed on the meeting.

https://www.nytimes.com/2009/09/09/business/09bank.html

See how the revolving door works. At least he wasn't sleeping with the CEO of Fannie at that time.