The Real Deal Miami

Bank of America draws hundreds of loan modification complaints in Florida

October 30, 2009 02:31PM

The office of Florida Attorney General Bill McCollum has logged 452 complaints within the last year from homeowners seeking loan modifications from Bank of America, the state’s largest lender. In 2008, the bank had about 82,000 mortgage loans outstanding in Florida, worth a combined $15.3 billion, according to National Mortgage News. By the end of June 2009, Bank of America had modified more than 10,000 loans in the state, the company reported, though some customers say their modifications have been delayed for months. JP Morgan Chase, the state’s next largest lender, has almost 69,000 mortgage loans in the state, and 69 complaints with the Attorney General’s Office. Wells Fargo, which acquired Wachovia, has a combined 51 complaints on file and almost 57,000 mortgage loans here. [Sun-Sentinel]