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Bank of America and Wells Fargo Say Loan Mod Efforts Improving, but Frank Says It’s Not Good Enough

by Andy Kaufman on September 10, 2009

The latest loan mod report card is in and it looks that B of A and Wells are heading up the rear of the class.

From Carolyn Said’s article in SFGate.

loanmodreportcard

Also worth noting is that:

Rep. Barney Frank, D-Mass., chairman of the House Financial Service Committee, said he was disappointed with the program’s slow pace. According to news reports, he threatened to revive legislation that would allow bankruptcy judges to reduce principal balances on home loans, an idea fiercely opposed by the industry.

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  • http://deansellsaz.com/2009/09/11/top-5-real-estate-posts-of-the-day-for-9112009/ Top 5 real estate posts of the day for 9/11/2009

    [...] Bank of America and Wells Fargo say loan mod efforts are improving, but Frank says it’s not good e… – Loan mod numbers may be going up, but not that [...]

  • http://iresourcesonline.blogspot.com/2009/09/wwwwellsfargofinancialbankcom.html Mandy

    Thanks for sharing.

  • http://www.myeasypaymentcom.com/ Alex

    Thanks for sharing. This information is useful for me.

  • http://www.myeasypaymentcom.com/ Alex

    Thanks for sharing . This information is useful for me.

  • Calif0058

    Barney Frank bought and paid for by these institutions. If he was sincere he could make them move faster on modifying loans, but hard for him to tell banks to f..k themselves when they giving him and his friends large “campaign” contributions. Only in Washington D.C. is this not called a conflict of interest!

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