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Bank of America Creates a New Division to Fight Loan Modification and Foreclosure Fraud


Bank of America has created a new department within the company that is going to mainly focus on all the issues that are occurring with loan modifications and foreclosures. They are the first bank to create a new division that will focus on the issues.  The new unit will have approximately 30,000 employees that will assist customers with their loan modifications and foreclosure issues.  Bank of America also announced that it will be canceling the reverse mortgage department which started in 2006.