It could be BOA, but it could be another lender as well.

Maximal loss for BOA would be the best possible outcome.

I was just listening to a webinar on BoA's updated Equator program.

Before its rescue-sale to Bank of America (BOA), Countrywide was the largest mortgage lender in the United States.Countrywide became a “leader” of sorts in the lending industry, according to numerous lawsuits filed by the Department of Justice, by adopting reckless lending practices, encouraging fudged loan applications, and violating appraiser independence in order to gain market share.

There are a number of options:1.Big banks, such as BoA, WF, Chase…2.Credit Unions, local.

The BOA guys sounds like a classic Primary Residence LO.

I'd love to be able to do a loan mod to reduce the rate and reset the term back to 30 but BOA won't do anything.

It is not 'required' but its a good idea.Some banks like BOA have their own (which I use in addition to my own).

BoA may have just been the servicer; it could even end up being deeded to Fannie, Freddie, or HUD (if it was FHA) - that (quit claim) deed transfer sometimes won't happen until it is under agreement with the next buyer.

Stay away from the big guys like BoA and WF.