Report: Bank of America, Wells Fargo Have Modified Few Mortgages
The Obama administration on Tuesday offered the first of what will become monthly reports on mortgage modifications, including a name-and-shame approach that’ll allow the public to see which banks are and aren’t working to help keep struggling Americans in their homes.
The first report, covering more than 30 lenders, found a dismal performance to date from two banks – Bank of America and Wells Fargo – that have received large sums of taxpayers’ bailout money.
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