Category Archives: Home Mortgage
Wounded Warrior Project Receives Over $10,000 From Advanced Charitable Services, Presented By Norwell And Plymouth Based Advanced Mortgage Services
DATELINE: NORWELL AND PLYMOUTH, MA
Wounded Warriors Project, a national organization that helps wounded veterans of the Iraq and Afghanistan engagements, received a financial boost via a check for $ 10,500 from Advanced Charitable Services based in Norwell, MA.
The sizable donation was raised via a golf tournament recently held at Southers Marsh Golf Club, Plymouth. More than 85 golfers participated in the fund-raiser which included a round of golf, dinner, awards and auction.
“We are delighted to help out the veterans who paid a high price for our freedom,” noted Brian Comer, President of Advanced Mortgage Services. He added, “The spirit and the success of this initial event have inspired us to make it an annual outing and fund-raiser for this great cause.”
Michele Comer, Senior Vice President of Advanced Mortgage Services based in Norwell and Plymouth, Mass., formed Advanced Charitable Services, Inc., a non-profit organization to promote and raise funds for worthy charitable causes.
Linda Perry, Area Outreach Coordinator for the Wounded Warrior Project, was on hand to accept the check and noted, “This kind of contribution and community effort help raise the spirits of our wounded Iraq and Afghanistan vets, as well as help to fund the programs and services that the Wounded Warrior Project offers to help them to rehabilitate and assimilate back into the civilian world.”
Wounded Warriors offers a range of programs, services and events designed for an individual’s needs beyond a vet’s hospital stay. Services range from combat stress recovery, peer mentoring, family caregiving, benefits counseling, advocacy, disabled sports programs, and backpacks stocked with necessary items for vets as they are discharged from a medical facility.
The mission of the Wounded Warrior Project is to honor and empower wounded warriors. Its purpose is to raise awareness and to enlist the public’s aid for the needs of severely injured service members, to help severely injured men and women aid and assist each other, and to provide unique, direct programs and services to meet their needs. WWP is a national, apolitical organization headquartered in Jacksonville, FL.
The next golf tournament/fund-raiser for Wounded Warriors is scheduled for this summer. To participate, contact Stacey Jordan, (800) 337-4660.
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BofA, mortgage-backed securities, mortgage, MBS, foreclosure, Bank of America
Various lawsuits have been lodged by investors against Bank of America (BofA) over mortgage-backed securities or MBS and the suits could involve at least $ 54 billion worth of investments. Investors are alleging that BofA have sold unwarranted MBS home loans.
Earlier, BofA had estimated more than $ 375 billion worth of securities in its regulatory filing but retracted and cut the figures following a California court ruling.
The suits are still part of the investors’ efforts to compel US banks to repurchase billions of mortgage-backed securities that banks have sold to them.
The number of MBS at issue in a possible class suit had been limited by a California court which ruled that the number should be lowered from $ 352 billion to $ 31 billion.
Courts are being asked by investors to certify their suits against the alleged misrepresentations and faulty warranties that banks have made in its MBS sales transactions.
Bank of America said that aside from repurchase demands, investors are also asking the courts to grant them unspecific compensatory damages. But it also said that the amount involved could be lower since there are still a number of factors that need to be considered such as mortgage repayments, collaterals and partial payments already made by the borrowers.
The company also said that it has already put into place new standards that would dispel any more doubt about the integrity of its foreclosure process. But the same standards could also increase foreclosure costs. It can be recalled that BofA had implemented a foreclosure freeze in all 50 states after the banks foreclosure procedures have been put under investigation by state and federal regulators. But the bank has already since resumed foreclosure documents in 23 states while maintaining the moratorium on the rest.
The bank also fears that new foreclosure system could result in higher fees, including legal and servicing dues. It also expressed its concerns that the probe could put completed foreclosures under tighter scrutiny and impose additional regulations on them.