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Bank of America Lied to Homeowners and Rewarded Foreclosures, Former Employees Say

Former Bank of America employees gave sworn statements that the bank lied to homeowners, denied loan modifications for bogus reasons and rewarded employees for sending homeowners to foreclosure.

A customer uses an ATM at a Bank of America branch office on April 17, 2013 in San Francisco, California. (Justin Sullivan/Getty Images)

Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees.

The employee statements were filed late last week in federal court in Boston as part of a multi-state class action suit brought on behalf of homeowners who sought to avoid foreclosure through the government’s Home Affordable Modification Program (HAMP) but say they had their cases botched by Bank of America.

In a statement, a Bank of America spokesman said that each of the former employees’ statements is “rife with factual inaccuracies” and that the bank will respond more fully in court next month. He said that Bank of America had modified more loans than any other bank and continues to “demonstrate our commitment to assisting customers who are at risk of foreclosure.”

Six of the former employees worked for the bank, while one worked for a contractor. They range from former managers to front-line employees, and all dealt with homeowners seeking to avoid foreclosure through the government’s program.

When the Obama administration launched HAMP in 2009, Bank of America was by far the largest mortgage servicer in the program. It had twice as many loans eligible as the next largest bank. The former employees say that, in response to this crush of struggling homeowners, the bank often misled them and denied applications for bogus reasons.

Sometimes, homeowners were simply denied en masse in a procedure called a “blitz,” said William Wilson, Jr., who worked as an underwriter and manager from 2010 until 2012. As part of the modification applications, homeowners were required to send in documents with their financial information. About twice a month, Wilson said, the bank ordered that all files with documentation 60 or more days old simply be denied. “During a blitz, a single team would decline between 600 and 1,500 modification files at a time,” he said in the sworn declaration. To justify the denials, employees produced fictitious reasons, for instance saying the homeowner had not sent in the required documents, when in actuality, they had.

Such mass denials may have occurred at other mortgage servicers. Chris Wyatt, a former employee of Goldman Sachs subsidiary Litton Loan Servicing, told ProPublica in 2012 that the company periodically conducted “denial sweeps” to reduce the backlog of homeowners. A spokesman for Goldman Sachs said at the time that the company disagreed with Wyatt's account but offered no specifics.

Five of the former Bank of America employees stated that they were encouraged to mislead customers. “We were told to lie to customers and claim that Bank of America had not received documents it had requested,” said Simone Gordon, who worked at the bank from 2007 until early 2012 as a senior collector. “We were told that admitting that the Bank received documents ‘would open a can of worms,’” she said, since the bank was required to underwrite applications within 30 days of receiving documents and didn’t have adequate staff. Wilson said each underwriter commonly had 400 outstanding applications awaiting review.

Anxious homeowners calling in for an update on their application were frequently told that their applications were “under review” when, in fact, nothing had been done in months, or the application had already been denied, four former employees said.

Employees were rewarded for denying applications and referring customers to foreclosure, according to the statements. Gordon said collectors “who placed ten or more accounts into foreclosure in a given month received a $500 bonus.” Other rewards included gift cards to retail stores or restaurants, said Gordon and Theresa Terrelonge, who worked as a collector from 2009 until 2010.

This is certainly not the first time the bank has faced such allegations. In 2010, Arizona and Nevada sued Bank of America for mishandling modification applications. Last year, Bank of America settled a lawsuit brought by a former employee of a bank contractor who accused the bank of mishandling HAMP applications.

The bank has also settled two major actions by the federal government related to its foreclosure practices. In early 2012, 49 state attorneys general and the federal government crafted a settlement that, among other things, provided cash payments to Bank of America borrowers who had lost their home to foreclosure. Authorities recently began mailing out those checks of about $1,480 for each homeowner. Earlier this year, federal bank regulators arrived at a settlement that also resulted in payments to affected borrowers, though most received $500 or less.

The law suit with the explosive new declarations from former employees is a consolidation of 29 separate suits against the bank from across the country and is seeking class action certification. It covers homeowners who received a trial modification, made all of their required payments, but who did not get a timely answer from the bank on whether they’d receive a permanent modification. Under HAMP, the trial period was supposed to last three months, but frequently dragged on for much longer, particularly during the height of the foreclosure crisis in 2009 and 2010.

ProPublica began detailing the failures of HAMP from the start of the program in 2009. HAMP turned out to be a perfect storm created by banks that refused to adequately fund their mortgage servicing operations and lax government oversight.

Bank of America was far slower to modify loans than other servicers, as other analyses we've cited have shown. A study last year found that about 800,000 homeowners would have qualified for HAMP if Bank of America and the other largest servicers had done an adequate job of handling homeowner applications.

“...collectors ‘who placed ten or more accounts into foreclosure in a given month received a $500 bonus.’” - Just think, again, how wretched it is for workers, who’ll do really dirty larcenous work for a pittance of a few hundred dollars (or, worse, payment-in-kind in the form of crappy worthless gift cards). Wretched and ugly, all around…

Lysa Schloesser

June 14, 2013, 6:16 p.m.

This happened to me - it was a completely crazy situation.  Is there someone I should talk to?

Thanks - L

This is the corporatization of America.  It turns worker against worker.  Each having to do harm to the other.  It corrupts the conscience.  Each day it gets easier to harm the other.  Compassion evaporates, society crumbles.

Elizabeth Grieco

June 14, 2013, 7:33 p.m.

Malfeasance and lies is what got the American taxpayers who shop at these ‘Big Banks to big to fail’ in trouble! Just think of all the millions in foreclosure, who were ready to make payments, and now are forced to relocate in a shanty! How disgusting this egregious behavior from the ‘Big Banks’! The DVD hosted by Matt Damon reveals all of there malfeasance, titled: “The Inside Job” These banks betted that people’s mortgages and AIG would fail or default, and the bankers with would collect even more money!! Billions were made from the sweat of the American taxpayer’s. Bring back the Glass Stegall Act! What else is there?

Bank of America did all of these things to me and my family while I fought to keep our home!  Who can I contact to get into this class action suit???

“This is the corporatization of America.  It turns worker against worker.”

Thing is, this strategy nearly always succeeds, because the average peon needs the money.

This article disturbs me more than any other I’ve read on the subject.  See “Occupy Department of Justice” (and like on Facebook).  Wall Street bank execs are “too big to jail” is pure crap.

This article disturbs me more than any other I’ve read on the subject.  Wall Street bank execs are “too big to jail.” Jail them anyway. Occupy the Department of Justice.

So what!!?

Another settlement will yield millions for attorneys and a few hundred for those of us who lost 100’s of 1000’s and oyr home!

http://www.facebook.com/bofasucks

Kitts in Oregon

June 14, 2013, 10:49 p.m.

Everhome Mortgage should be investigated too.  I called to ask about HAMP and transferred to a refinance loan officer, Bill Simon who went on and on about Hamp and how bad it was - stuff that was not even relevant to my questions.  The loan officer at Everhome Mortgage told me that they would never approve a HAMP if someone had any money in a 401K that could first be used to pay the loan.He told me over and over that it was a waste of my time to pursue and he knew nothing about me or my situation.

This article describes almost exactly my experience with Bank of America! I knew the SOB’s were lying to me! The difference is that I actually got my loan modification. Why? Because as a last ditch effort when I really thought I was going to lose my house I wrote a letter to my Senator in Washington DC. I told everything and even sent copies of all the emails and documents. For anyone who has gone through this you know how crazy it can make a person. You just can not believe that a bank is actually out to screw you. Well, to my great surprise I suddenly got a phone call from someone saying they were from some BOA vice president’s office and wanted to help me with my loan modification. Then I got a call and a letter from my Senator’s office. In the end I got the modification and still live in my home but it’s only because a United States Senator got involved on my behalf. Screw Bank of America! God bless you in Heaven Senator Daniel Inouye! You were a good man and Hawaii misses you.

This is EXACTLY my experience with them!!! I can’t believe this! Eventually they sold me to Nationstar and I am still trying to modify the loan!

Alessandro Machi

June 15, 2013, 2:38 a.m.

The article is describing “Parallel Foreclosure”. Unfortunately, the media has accepted the term “dual tracking”, which when googled brings up many many non foreclosure stories as to render the phrase dual tracking almost pointless.

One thing that is helping me regarding this insanity is to protest, rather than sitting at home boiling with frustration and anger.  Please visit and Like “Occupy Department of Justice,” “Home Defenders League,”  “Occupy Our Homes,” and “Campaign for a Fair Settlement” on Facebook.  There is a budding coalition movement on fighting foreclosure fraud and the Department of Justice regarding this massive injustice caused by banks “too big to fail and jail.”  Two weeks ago in Washington, DC, over 500 home defenders and foreclosure fraud victims from across the country participated in several dynamic peaceful actions over three days (May 20-22), including occupation of the Department of Justice (Eric Holder) for 24 hours and blockaiding the doors to Covington & Burling law firm (the defenders of the biggest financial corporations).  Among the 34 arrested, were seven women, six of whom are grandmothers, (AKA, the Covington Seven).  Please sign the petition at “Home Defenders League” demanding that all their charges be dropped.

Alessandro Machi

June 15, 2013, 12:51 p.m.

Andrea Rea, we need more people like you out there. I sure wish I’d get more action on my cutting edge blog http://www.debtsuspensionrights.blogspot.com

This is precisely why I hate BofA and the other big banks.  They use their government given power to treat customers as marks to be taken advantage of rather than customers to be served.

This is the way government treats people, and it’s the way corporations, with government cover, treat people.

When your corporation is “too big to fail,” and the “revolving door” makes sure your minions control the regulators, you can do what you want. 

Use small, local banks and credit unions.  They are run by good people who have ties to the community.

This isn’t “corporatism,” this is fascism, and the result is the enslavement of us all to a tiny elite who don’t care if they destroy the wealth of the middle, upper middle, and newly rich, as long as they can be the one sitting at the top of the cesspool and the end of the day.

-Ken
http://www.LaserGuidedLoogie.com

Beverly Smith

June 15, 2013, 3:01 p.m.

I LEFT BANK OF AMERICA many years ago in NJ, as I felt a strange tingle down my suspicious nerve, which certainly turned out to be a true one.
Beverly Smith

I have hated Bank of America now for 10 or 11 years.  They are crooks and criminals who should be jailed.  They think they’re too big?!  Nobody is THAT big.
This is sad for so many people….

Peyton McMann

June 15, 2013, 3:49 p.m.

wow. it’s what I’m going through right now. Anyone have a link or address/phone number to point me in the right direction?  all I have is my BOA loan modification adviser. “she’s there to help.”  Her incompetence and delay tactics all makes sense now. I’ve submitted financial info three times now!

What city/town do you live in?  Some cities have very active homeowners rights organizations whose members have been or are going through this, and could give you suggestions, etc.  For example, in Boston, there is City Life/ vida urbana.  That organization is 40 years old and a huge success.  Even if you don’t live in Boston, a phone call to one of their lawyers might help.  National coalitions/groups such as “Home Defenders League” and “Occupy Our Homes” might not be able to directly help you but would hopefully have the knowledge to lead you in the right direction.  Since many of the members have been through all this, they might be able to help.Try some of these groups via Facebook or their website.  I’m sorry I don’t have more specific info. Hey, I wonder if the author of this article would have some suggestions?

Your article was right on the mark, when I was jumping through hoops trying to secure a loan modification with both Wilshire and Bank of America I thought there was something wrong with me since I kept sending and re-sending paperwork that the mortgage companies told me they had not received.  I felt as though I was going nuts, only to find out they were playing with our heads.

I have read the other comments and I also agree that there must be a person or phone number we can call to receive some kind of justice.

Alessandro Machi

June 15, 2013, 7:57 p.m.

If you want to learn more about parallel foreclosure, just go to my blog link, http://www.parallelforeclosure.blogspot.com

Ironically, California had parallel foreclosure, aka dual tracking, recently declared illegal. However the case can be made that it has been a federal hobbs act violation, extortion, the taking of property under the color of right even before California’s declaration.

The banks harnessed taxpayer funds used in such programs such as HAMP to deceive homeowners into being late on their mortgage payments in exchange for HAMP application eligibility or processing.

However, at the same time (aka parallel foreclosure), the HAMP applicant’s credit score took a hit and parallel foreclosure actions were initiated. This was COMMON PRACTICE for most HAMP applicants.

Unfortunately, as horrible as the Obama administration has been on this one issue, the republican politicians are so on love with anything to do with business they purposely have IGNORED this outrageous situation even to the point of losing the 2012 presidential election by IGNORING the millions of disenfranchised homeowners they could have helped.

It’s really an amazing time in our country’s history.

Bank of America is not the bank they used to be. I am 49, have a credit score in the mid 700’s, and I have had four mortgage loans with BOA in my adult life, along with credit cards, and a few personal loans. I have never been late on any payments. After missing work for about six months, because of sickness, we asked to refi the first mortgage which we have had for about 10 years, now at 5.75% and combine it with our HELOC also with BOA that we took out to do repairs and updates to the house. The lender at the bank here in Statesville NC told me since the value of most homes had dropped, and because we were current on all our loans, the bank could not help me. She told me I should let our loans go 60 days past due, then come back and they would try to help me. The lady is a very nice person, and only doing as she is told I am sure. I said, “Look me straight in the eyes and promise me if I let our loans go 60 days past due, the bank will combine the two loans and refinance them for us.” She gazed towards the floor, and said, “Mr. Lamb, I am sorry, but we can’t promise you that” Sad. We love our house, and have paid on it for 11 years, but it most likely will not meet the 80/20 LTV requirement most banks require. We will keep paying monthly payments, and when we can, hopefully find a bank that will help long term customers.

Richard Johnson

June 15, 2013, 10:37 p.m.

I am not surprised with what I am hearing, after what they did to me. I was with Countrywide when they took it over and I had an automatic withdrawal from my account set up with Bank of America and when I went to refinance with another bank, they accused me of being late on my payments, go figure and they said, I owed them 115.00 and Regions tried to help me get it straighten out but BA would not do so, so Regions paid it for me. And I tell you, I have heard more bad stories of BA from more people, why I think they are a disgrace to the name America and should be sued in more ways then one and why more people do not wake up and leave this bank is beyond me.
And Regions your #1 keep up the good work.

Richard Johnson

June 15, 2013, 10:52 p.m.

Bill Lamb try Regions they are good and treat people right and the costumer comes first, and I don’t care where I go they are all friendly and helpful and may u fined the same.

matthew weidner

June 16, 2013, 8:14 a.m.

Great reporting….everyone in Amerika needs to read the audits from the Office of Inspector General, Housing and Urban Development…..Bank of America is not alone in stealing billions of dollars….

http://www.hudoig.gov/reports/featured_reports.php

Christopher Webb

June 16, 2013, 10:49 a.m.

We’re going to need a bigger jail.

Please get active in the fight to bring these banksters to justice.  It’s about time for all home defenders to unite and fight the Department of Justice who thinks the “big banks are too big to fail” and are “too big to jail.”  I think for the first time, on a national scale, over 500 home defenders including victims of foreclosure fraud came to Washington, DC and peacefully protested May 20-22, 2013.  The protest included over 500 marchers to the Department of Justice.  We’re getting screwed…Giving a family a monetary settlement of $1,000 worth of peanuts for stealing their home is criminal!  These banksters need to go behind bars for a long time. That is the only thing that will change their behavior!  Paying a fine is only a drop in the bucket for them.  The DOJ has refused to prosecute and jail any Wall Street bank executives.  Fight the DOJ with thousands of peaceful home defender protesters coming to Washington DC!  Demand that the DOJ prosecute and jail bankers (and not the protesters). Talk the talk, but also fight the fight (peacefully).  Home Defenders League, Occupy Our Homes, and other organizations have come together. For more info and to become active in the Movement please contact the coalitions that put the national DC protest together:  “Home Defenders League”  and “Occupy Our Homes.”  “Campaign for a Fair Settlement” has also been very active.

Rockribbed Conservative

June 16, 2013, 3:05 p.m.

To avoid foreclosure, pay your bills on time.

Simple solution.

I just paid my mortgage off two years early by dint of saving and hard work.

What’s so hard about that.

Did you read the article?

Alessandro Machi

June 16, 2013, 9:32 p.m.

Rockribbed conservative, a valid, but off topic point you have made.

The economy was falsely pumped up, aka a balloon economy, when wall street began making home securitization investment schemes, and them multiplying them over and over.

When wall street deals strictly in numbers, with no connection to reality, we all eventually pay the price to prop them up, so they can do the same damage again over and over.

The digital economy is a dangerous economy because financial investment companies can create an investment scheme/game on virtually any topic, and then multiply it over and over. Wall Street is creating virtually nothing in the way of true commerce. Instead Wall Street has become the casino operator profiting off of everyone who enters their gambling/investment world.

The result is our economy is now estimated to be 48% financial services versus 10% to 15% just a couple of decades ago. Half of our jobs can’t be financial services related, it’s insane, yet that’s where we are.

To this end, politicians have protected wall street and insufferable consumer debt that debtors can no longer pay their way out of.

Unfortunately the rich elite, people like the Koch brothers on the conservative side, and George Soros on the progressive side, have convinced most americans to choose one side and see the other side as the enemy of the United States.

It is true that simply paying one’s mortgage is the most logical avenue to take. But this does not take into account the fraudulent overvaluing of homes that now have many millions of americans upside down on their homes.

On top of that, ANY CHANGE IN TERMS on the servicing of a person’s mortgage after the re-selling of their mortgage to a new mortgage servicer without the homeowners permission, should be illegal.

The reason being, each time the mortgage is resold, a slice of profitability has been sliced away. The result is the new servicer has much less motivation to be offer the same level of reliability as the original servicer.

Example, the new servicer takes 10 days to process payment, whereas the original servicer only took 5 days to process a payment. Payment comes in on what would have been on time with the original servicer, but the new servicer instead declares the mortgage payment late and heaps a huge penalty on top.

The homeowner can’t catch up and eventually loses their home. This scenario has happened, and it is wrong.

To the person who said pay on time-try being downsized or laid off and have no money. I was advised to stop paying so I would be eligible for the refinance. all I wanted to do is lower my interest rate. Came close to loosing my home except my father assisted me, not BAC. I was lucky and have friends who lost theirs.

Cheryl Johnson

June 17, 2013, 9:24 a.m.

BofA also used servicers to do the exact same thing.  They not only denied our LM before we ever finished up our paperwork and played the shell game with us for months then they actually offered us a Deed In Lieu and Cash For Keys if we moved out and left the house vacant and in move in condition. We agreed and then they broke into the house, rekeyed all the locks, and took possession of the house 2 full months prior to the trust deed sale with the lamo excuse that they were protecting their asset and that we had abandoned the property.  I too would love to get on board with the class action litigation.  The only time they pay attention is when we get into their pockets in court.

Lots of questions on who to contact from people who have been vicitmized by BoA.

Try this link.  http://www.foreclosurehamlet.org/

Brian Barlow and Sondra Johnson

June 17, 2013, 10:15 a.m.

It’s a (SHAME)  these banks have Murder homeowners but the Justice system have just let them get away with it, This is United States of America I am 43 yrs old and I have never seen anything like this they have broke the law and know one has went to (JAIL) At least with (ENRON) they did prosecuting send somebody jail, American’s should be out raged, If we walk out a Restaurant and don’t pay we get 3 years in prison but banker steal Billions of dollars from homes and the government and get a Slap on the wrist something wrong with this picture I got a check for 2000.00 dallors for me and my wife Trouble With Countrywide Bank of America Foreclose on my home I had filed bankruptcy or to save home, Somebody need to go to jail this is just ridiculous ,Or we need to replaced the people that’s are over the Justice Department over home foreclosure process

This is no different than Chase Bank, who did the same thing to my house and caused so much strife and pain with my family. These banking institutions and those who run them do not care about the human suffering they have deliberately caused. All they see is the bottom line - money! That’s all they give a damn about and if we all died, they would laugh. We need to revolt against them and bring them all to a swift, proper, and hard justice - NOW!

Greed, corruption and loss of any moral compass. This country is going exactly the same direction as the Roman Empire!

What this is….is psychological warfare intentionally caused by the banks, which causes post traumatic stress disorder.

B of A protestor

June 17, 2013, 10:49 a.m.

I can show proof B of A took possession of a property I owned after refusing a short sale then sold it at auction in Sept 2009.  In mid-2012 they foreclosed against me again on the same property saying initially it was the first foreclosure.  I pressed the matter, complained and called the president’s office.  Finally, an attorney from Recon Trust admitted there was a title error and they rescinded the first foreclosure in mid-2011 but hadn’t informed me.  Now the HOA is after me for three years of back dues saying the property was mine until 2012 since B of A rescinded the 2009 foreclosure and sale.  I showed my 1099 from the bank and the hit on my credit report from 2009 to B of A and the HOA but am told the title is in my name until 2012.  B of A acts like this is just a common adjustment and won’t accept responsibility.  They also lost my documents repeatedly when I called for modifications.  I had six identical loans, all in the same complex and they said I needed to call on each loan mod separately as each was a separate file even though the information was 99% the same and repetitive.  Each call could take 45 minutes to an hour so times six was a crazy-making situation.

Brian Barlow and Sondra Johnson

June 17, 2013, 10:50 a.m.

They stop taking payments and Force homes owners into foreclosure, Didn’t make ihome owner of the modification process that we’re going on by government..  Told homeowners to move out of their homes knowing they could do a modification after you to move out your home, they would send it to hurry.  Property address where you live at Knowing that you moved out of the property when the Government final caught on they call home owners and ask them to try to Modify their home loans!! So give home owners a break we just did what we were told!!!

I had to finally conclude that the feds, as well as the banks, were part of this nationwide fraud on the American people. Same thing happened to me last year after fighting for the modification for over a year. Nobody, and I do mean nobody, in authority did a thing about any of it. It was all a sham from beginning to now. The Office of the Comptroller of the Currency, the FTC, the Justice Department, Attorney General Eric Holder, Georgia’s governor Nathan Deal, and plenty more I can’t even remember now. Literally every single entity that had any jurisdiction in this matter was contacted and begged for help. Not one of them did a thing to stop it or even help. Attorneys wouldn’t lift a finger because they all knew the same thing that we know now. The federal lawsuit was a sham, too. As part of the settlement, BofA “promised” to stop doing what they were doing, but in real life they never missed a beat. The money the states got didn’t go to any of us, it went to start charities or on some ridiculous new fund that had some loose connection to homeowners in general. The states got, and kept, that money themselves and the true victims didn’t see a dime of it. I finally had to walk away (their goal) or die. Those were my choices. Now my house is sitting empty in a subdivision, a town, a state full of foreclosures, broken down, rotting, empty. I’ve had to start my life over in another state altogether, with n-o-t-h-i-n-g. More power to the people who can still fight. All the rest of us can do now is start over, again, and hope we live to see Bank of America fail. I’ll be long dead before the feds responsible are held accountable. Just the fact that BofA is still up and running ought to tell everybody how involved the feds actually are. The banks involved are corrupt, no question, but they are just the tip of the iceberg.

Can someone please explain why it is more advantageous for the banks to foreclose than to do a loan mod?  Is it because the loans are guaranteed by Fannie Mae and Freddie Mac and the banks get more money by foreclosing than by helping the homeowner stay in their home?

PNC Mortgage did the same thing to me and no one is helping (Obama Administration) because I am looking for legal help.  Its about time bank employee “whistleblowers” tell the truth.  My road to foreclosure me calling PNC employees approx nine months while they lie to me about why my loan modification status it was never approved.  PNC Mortgage transferred the loan to a Servicer who then foreclosed on m property based upon lies from PNC Mortgage.  Thanks Bank of America employees for being honest citizens.  What’s up with you PNC employees.

This is exactly what happened to us, but through Chase! We made it through the 9 month trial payments (that were suppose to take only 3 months). At that time, we were denied. We started the entirely frustrating experience again - but with an attorney (which was just a 3 year - just as frustrating - experience). After a 6 month trial payment plan (again suppose to take 3 months). We finally received a permanent modification (through some new? military program).  The entire process took us six years!!!

It was not only Bank of America, Citimortgage did this to us.  $1484 is what was given in the class action suit.  Really!?  All I can say is “what goes around, comes around”  I hope they are all proud of what they have done to hard-working Americans.

Just read an interesting article on the DTC Systems website titled “Control Fraud”. In the article it states: ” When lying becomes the standard upon which your paycheck relies, you are a liar by proxy. How sad.

Susan, I wondered the same thing. I do know that my loan had that “insurance” attached to it that homeowners have to have if they put less than a full 20% down on a home. It was explained to me that BofA could claim a loss on my loan and cash in on the insurance against that loss. They still get the home once it was foreclosed on and eventually resell it. Now, if we did that - filed an insurance claim for a loss, recovered the loss, and then resold that item later, we’d be in jail for insurance fraud. So if that is, indeed, what the bank did, why aren’t they in prison? The number of times BofA blatantly violated HAMP rules, federal laws/regulations, their settlement agreement, and defrauded people in general is astonishing. Any ONE of those crimes would land a citizen in jail or prison. Why not BofA? Why not every person who took part in the corruption, unethical business practices, grand theft, extortion, and fraud? Why not ANY person who took part in it?

Say - like B of A is the only guilty party here.

Take a look at Chase / JP Morgan -

For three years - please send us your documents, fax, scan, scan, scan, scan, scan, no loan mod.

Went to court to fight foreclosure - judge granted me forced mediation with attorneys - they have not done any more - they know thay can’t get it back into court to foreclose, they have to come up with modification - hasen’t happened yet, but they still continue to call at least 4 times a week, and we go through the same story, every call, even agreed to give them the keys - they are lost sheep - and if anyone thinks this mess is over - come back from Disneyland, it has just started.

Wells Fargo does the same things…They cant fail as the US GOVT has there back always

Oh -

CFPB if you look at this site - this is the BIG FISH Story.

This will throw up the apple cart - if you just look into this story.

This article is part of an ongoing investigation:
Foreclosure Crisis

Foreclosure Crisis: Banks and Government Fail Homeowners

Banks and the government have fallen short in helping homeowners in danger of foreclosure.

The Story So Far

Systemic failures at the country’s banks and mortgage servicers have exacerbated the most severe foreclosure crisis since the Great Depression, and government efforts to limit the damage have fallen short. ProPublica created an unrivaled database of homeowners who have faced foreclosure, opened a Facebook page to encourage homeowners to share their stories, wrote profiles of some of them, and incorporated their experiences into our reporting. We also provided a comprehensive rundown of the numbers behind the crisis.

More »

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