``The agreement required Bank of America, which bought subprime lender Countrywide Financial in 2008, to provide the most consumer relief. But in a securities filing this month it said a significant number of modifications had not yet been completed "due to the time required to underwrite the modified loans."

The bank so far has provided no relief through refinancings, according to the report. It has completed $54.2 million in second-mortgage modifications. ''

Comments: Be the first to add a comment

add a comment | go to forum thread