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I will take my shot at this question. Actually no, model bank is not the computer system we use, actually(I am an employee) Merlin is the system. Model Bank is the term we use to describe a region (or state) that uses this and other "on-line" systems. Yes it is true that by sometime in the summer of 2001 california, the last state to become model, will have what it takes to verify account balances from anywhere in the country. Basically other than florida the model banking has been rolled out. When this is complete the BAC will be the largest most powerful bank in the country. Imagine being able to walk into any one of tens of thousands af banking centers to make a loan payment or to withdraw cash (maybe you don't like ATM's). The point is in less than 1 and 1/2 years the largest bank in the world will be fully functional.

To clear up a commom misconception, NationsBank PURCHASED the legacy Bank of America. So your NAtionsBanc loan just became a Banc of America Mortgage loan, it wasn't sold. Let's then go back to july and august of '98 when NationsBank stock was selling for 85-90 dollars a share. The merger (and the big loss during the merger of 1.5billion on a bad legacy BA loan- (for more info look back in the late part of 98 and try to find articles on David Coulter's departure from the new Bank of America)) along with rising interest rates have hurt this stock but never fear, we will climb. In January of 99 a 15 yr fixed mortgage was going at 6-6.5% this Jan 8.5-8.6% You think this hurts business?

I will be happy to answer any questions if I can help
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