VA Foreclosures Homes Now Managed by BAC Home Loans

VA foreclosures homes are now managed by BAC Home Loans Servicing LP, a subsidiary of Bank of America Corporation. Previously, VA foreclosures were being managed by Florida-based Ocwen Federal Bank FSB.

The U.S. Department of Veterans Affairs this year signed a long-term agreement with BAC Home Loans to be its property management company.

In August, BAC Home Loans Servicing was also chosen by Ginnie Mae to service its home loans formerly serviced by mortgage firm Taylor, Bean and Whitaker. These loans were financed through VA, FHA, the Office of Public and Indian Housing and the DA Rural Development Program.

By Cassiano Travareli