Abigail Field has an eye-opener of a column today over at the AOL Daily finance site. She takes a swipe at the lenders who were on display today at hearings on Capitol Hill. If you want to learn why we have a foreclosure mess, her column has some great who’s-making-money-off-this facts.
Here’s a snippet:
According to The New York Times, Barbara Desoer, the head of bank of America Home Loans, will announce new initiatives, including the revolutionary idea that each borrower should be assigned a case manager, so borrowers don’t get passed from employee to employee. That such a basic concept is a new initiative speaks volumes about they the millions of borrowers that Bank of America is foreclosing on have been unable to get modifications or otherwise work thinks out with BofA.