Bank of America hasn’t modified one mortgage since settlement

And I wouldn’t hold my breath, either!

Bank of America Corp hasn’t completed any first-mortgage modifications that reduce loan balances for borrowers so far under a $25 billion settlement reached this year, the official monitoring the agreement said Wednesday.


Five financial institutions that are part of the settlement have provided $10.6 billion in consumer relief from March 1 to June 30, with $8.7 billion in the form of short sales in which customers sell their homes for less than the mortgage’s value. Bank of America produced $4.8 billion in short sales, the most of the five banks, according to the first report by settlement monitor Joseph Smith.


JPMorgan Chase & Co completed $367 million in first lien modifications in which borrowers had their loan balances reduced, about half of all modifications.

Good

Excellent news from Florida:

A federal judge said Wednesday he would permanently remove harsh restrictions on third-party voter registration groups that have handicapped registration efforts in Florida this year. U.S. District Judge Robert L. Hinkle said he would grant a motion to permanently remove the restrictions once he receives confirmation that a federal appeals court has dismissed the case (the state of Florida has agreed to dismiss their appeal).

The GOP platform

As you may have noticed, the right-wing fringe always telegraphs their plans in advance. It’s just that they’re so extreme, most voters don’t believe them:

TAMPA, Fla. — Republicans emphatically approved a toughly worded party platform at their national convention Tuesday that would ban all abortions and gay marriages, reshape Medicare into a voucher-like program and cut taxes to energize the economy and create jobs.


The document opens by warning that while the American Dream has long been of equal opportunity for everyone, “Today that American Dream is at risk.” It pledges that the GOP will “begin anew, with profound changes in the way government operates; the way it budgets, taxes and regulates.”

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