BofA

Describes motivation process for creativity with emphasis on intrinsic motivation by Corey K Katir

Chris Diaz is the founder of Charis Financial, Inc. He has over 14 years experience in helping homeowners with their mortgages and has closed hundreds of short sales over the last 3 years. His website is www.charisfinancialinc.com. Send questions to moneymatters@ocregister.com; reference ashort-salesa in the subject line. Q. I was wondering, how does it happen [...]

Stop paying mortgage at your own risk is a post from: Mortgage Insider

A Bank of America spokeswoman confirmed Thursday that the lender has accelerated its pace of filing default notices in states where a court order isn’t required before lenders can foreclose. However, spokeswoman Jumana Bauwens said that while “progress is certainly being made,” the pace of filings still isn’t fast enough. In an email to the [...]

BofA says increased defaults will spur recovery is a post from: Mortgage Insider

Bank of America plans a sweeping overall of its nationwide operations — cost-cutting endeavors that will trim is payrolls by 30,000 positions over the next several years. Associated Press reports: The bank announced the job cuts in a statement shortly after Brian Moynihan, the bank’s CEO, disclosed the cost-saving goals in an address to investors [...]

BofA to cut 30,000 workers is a post from: Mortgage Insider

Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of aHow to Save Thousands of Dollars on Your Home Mortgagea and a mortgage broker since 1983, answers questionsa| Q. My wife and I applied for a loan modification last August through our lender Bank of America and were turned down. Then we tried [...]

Paying the mortgage: Hard choices in hard times is a post from: Mortgage Insider

On September 14, 2011, Law360 reported that the U.S. Department of Labor’s Occupational Safety and Health Administration has ordered Bank of America to pay $930,000 to a former employee allegedly fired for exposing fraud at Countrywide Financial Corp. before its merger with the bank.   OSHA also ordered that the bank rehire the employee, according to an OSHA News Release.  According to the Law360 report, the whistleblower led internal investigations at Countrywide (before the BofA merger) regarding its business practices. 

OSHA found that the employee’s firing violated the whistleblower protections included in the Sarbanes-Oxley Act (SOX), Law360 reported.   OSHA is the federal agency responsible for investigating complaints under SOX’s whistleblower protections.  BofA may appeal the decision.

The OSHA decision is a strong reminder of the importance of SOX policies and procedures regarding the handling of internal complaints and non-retaliation policies.

(For further information:  OSHA News Release; LA Times Blog; CNBC.com)

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