Blog Archive: June 2013

Explosive new allegations have emerged in the ongoing litigation against Bank of America (BoA) in relation to intentionally botched loss mitigation procedures, most especially in relation to the government-sponsored Home Affordable Modification Program (HAMP).  Several whistleblower former employees from BoA’s loss mitigation department have come forward asserting a laundry list of egregious abuses of both their borrower and the U.S. taxpayer. Some of the highlights of this scheme include ...

Florida Attorney General Pam Bondi criticized Bank of America for failing to comply with the servicing standards of the National Mortgage Settlement. “Complaints about Bank of America account for nearly 40-percent of the total 293 complaints the Attorney General’s Office has reviewed and shared with the National Monitor regarding possible non-compliance by the banks.” In a letter to Bank of America’s counsel in preparation for a meeting between the National Mortgage Settlement’s mon...