I guess it's good in that we will have something concrete to which one can refer when trying to convince the friends and family to join a credit union.
This is the big lesson of this release: don't buy shady companies, even when they are cheap, because they will ruin your reputation.
Bank of America Home Loans was probably largely above-board with respect to its lending during the mortgage crisis, but then they decided to buy Contrywide, which was ... not so good. Now they get to take all of Countrywide's losses, both financially and in terms of public relationships. Countrywide didn't misbehave, Bank of America Corporation did, because Countrywide is defunct. And then people close their BofA accounts to make a statement, even though there was no relationship between BofA and Countrywide when Countrywide was being bad.
That said, this is all just speculation. Maybe this is actually about BofA. But I kind of doubt it.
Anecdotal experience here, but my father who had a Countrywide home loan before BoA took over has lamented that change since the first day. The big issues for him have been customer service, at Countrywide, the people he talked to were personable and handled things in a timely manner. While dealing with BoA, the people he talked with couldn't wait to get him off the phone, accused him of fault when there was an issue with the bill caused by BoA, and took forever to deal with said issues. He has been trying to get his loan refinanced for 4 months now, but they have a queue, and they only process 8 refinances a month. Makes a lot of sense...
Now this doesn't prove anything towards what Anon is going to release, but it just shows, to me at least, that BoA very likely is not so innocent in all this.
"he worked for BoA And CW most of his adult life and know's everything and anything BoA just sent me some BoA emails.. LOL.. Stay tune."[1]
From the tweets it sounds like the leaker was with Countrywide when it was being bad (assuming) and is angry at being later fired by BofA. Explosive combination even if BofA is clean, as someone whose dream is "being on tv exposing BoA"[2] probably doesn't care to make the distinction.
This is the big lesson of this release: don't buy shady companies, even when they are cheap, because they will ruin your reputation.
Bank of America Home Loans was probably largely above-board with respect to its lending during the mortgage crisis, but then they decided to buy Contrywide, which was ... not so good. Now they get to take all of Countrywide's losses, both financially and in terms of public relationships. Countrywide didn't misbehave, Bank of America Corporation did, because Countrywide is defunct. And then people close their BofA accounts to make a statement, even though there was no relationship between BofA and Countrywide when Countrywide was being bad.
That said, this is all just speculation. Maybe this is actually about BofA. But I kind of doubt it.