Huh, B of A? You’re Seeking <i> Fewer </i> Clients?
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During my many years of schooling, I thought I had learned how business and banking work. Then Bank of America decides to charge an application fee that is several thousand dollars more than any of its competitors to process applications to refinance home mortgages (“B of A Imposes Hefty Fees to Stem Tide of Refinance Requests,” Feb. 13).
B of A said it was “forced to impose the fees to reduce the workload created by the current refinancing frenzy.”
Wouldn’t it make more sense to hire more loan processors to handle the increased workload, and in turn generate more business for the bank, instead of discouraging homeowners from even applying to B of A in the first place?
CHUCK WEISS
La Crescenta
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