BofA Opens Homeowner Outreach Center in Nevada

""Bank of America"":http://www.bankofamerica.com has opened the first of three outreach centers to serve Nevada mortgage customers who are seeking loan modifications or other foreclosure prevention assistance.

[IMAGE]

The first outreach center is in Henderson. Openings of additional centers in Las Vegas and Reno are expected by the end of June.

The doors of the first facility have been opened just three weeks after Bank of America's CEO Brian Moynihan met with Sen. Harry Reid (D-Nevada) and pledged to expand his company's resources for borrower assistance to Nevada, a state hit particularly hard by the housing downturn and deteriorating economy.

With the acquisition of Countrywide in 2008, Bank of America services about one in three mortgage loans in Nevada. The lender says its home retention efforts have resulted in completed mortgage modifications for more than 15,000 Nevada homeowners since January 2008, with another 7,500 currently in active trial modifications as part of the federal government's Home Affordable Modification Program (HAMP).

[COLUMN_BREAK]

""Bank of America has been very active in working on financial solutions for our mortgage customers in Nevada, including a dedicated mobile team that has been in the state since January and frequent participation in homeowner outreach events,"" said Rebecca Mairone, national servicing executive for Bank of America Home Loans. ""But we recognize that homeowners in Nevada have been faced with some of the most extreme economic conditions that require further special efforts on our part.""

Homeownership retention specialists at BofA's Nevada outreach centers will meet with homeowners face-to-face by appointment to assist them with documentation requirements for loan modification applications, with a particular focus on the HAMP package, as well as other foreclosure avoidance programs.

Once a Bank of America associate at an outreach center meets with a customer, that customer's file and all follow-up will remain with that specialist, the company explained in a press statement.

Sen. Reid commented, ""Bank of America made a commitment to me and the people of Nevada that it would start doing more to help struggling homeowners in our state. While this is one step of many in its commitment, it demonstrates that Bank of America is working in good faith to keep its promise and I appreciate that.""

Bank of America has similar mortgage assistance centers in California and Arizona, and says plans for a Florida presence are also in the works â€" putting a team of home retention specialists on the ground in the four sand states that have been hit hardest by the housing bust.