The lender has accounted for 30% of complaints to the Consumer Financial Protection Bureau, with two-thirds of them involving modifications.
By E. Scott Reckard, Los Angeles Times
March 28, 2013, 7:38 p.m.
Bank of America Corp., which handles customer service on about 15% of U.S. home loans, has accounted for 30% of the mortgage complaints logged by the Consumer Financial Protection Bureau, according to a new database made public by the federal watchdog.
The level of customer discontent — far greater than at home-lending rivals Wells Fargo & Co. and JPMorgan Chase & Co. — reflects BofA’s struggles since its 2008 acquisition of Countrywide Financial Corp. in Calabasas. Countrywide had become the No. 1 mortgage firm by specializing in subprime and other high-risk loans….