BofA Trails JPMorgan on Refinancings Under U.S. Deal

bloomberg.com — Bank of America Corp., plagued by complaints aboutcustomer service in its mortgage unit, said it hasn't yet refinanced a "significant number" of loans as part of the industry's $25 billion settlement of foreclosure abuses. 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.
B of A trails way behind JPMorgan Chase in refinancing loans as part of $25B foreclosure settlement, Bloomberg says. t.co/POgX6DU2