Bank of America Foreclosure Reviews: Why the Cover-Up Happened (Part IIIB)
This post is the second half of Part III in our Bank of America foreclosure review whistleblower series. Part III focuses on how the confusion and high cost of the foreclosure reviews weren’t simply the result of overly ambitious targets and poor design, oversight, and implementation of the reviews. These reviews never could have been done properly due to significant gaps and inaccuracies in the borrower records at Bank of America. That meant the only possible course of action was a cover-up.
Here we’ll discuss:
“Garbage in-garbage out” problem of unintegrated, unreliable records
“Fire, aim, ready” approach to launching the tests
“Garbage in-garbage out” problem of unintegrated, unreliable records
The foreclosure review revealed one of the root problems of the foreclosure crisis: unreliable, difficult to use, and in too many cases incomplete records.
Let’s start by understanding the difficulty of the task even if everything had been in good order. We’ve taken this snapshot from the Excel training model for the E and F tests, which were on fees (see here to access the full model on ScribD or scroll down to the embedded version later in this post). This shows the top part of the computer screen reviewers would use to perform their work.
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Just received latest fabricated letter from BOA claiming there was a delay in my prior years flood policy and this years flood policy there was not lapse.
NOTE: They have not included any dates of prior year policy nor this year date of policy (It never lapsed that is why it is not mentioned in their “fabricated fee” letter to me…
Yet, they have included some “fabricated fee” and unless I prove there was no lapse they will take yet more of my money on “fabricated fees”…
This is what I do: I scan their document, emailing it to my insurance company and laying it on my insurance company to remedy this discrepancy. Voila no stamps no money out of pocket and it is dealt with – with the ultimate record to verify they have received it as well as my insurerer who happens to be another bank. Thus, others know, their is minimal work on my behalf and they have NO POWER without a lot of verifiable evidence. I then have my insurer email me what action they took, as well as what they emailed BOA, so I have all transactions neatly recorded in one file, again neat, clean and no money or time wasted!
I have ridden this bull for years since 2008, they obviously are having a tougher time throwing me as the “fabricated fees” have gone down, none the less they still keep coming back for more as no one, and I mean no one is stopping them. I have involved the Office of the Comptroller of the Currency, Texas Office of the Attorney General, Insurance company, etc… since 2008 and the government has done nothing! Thus, I am managing BOA like a cancer it keeps trying to grow out of my bank account but I won’t allow it! Go somewhere else and steal from someone else since our government is allowing this and perhaps is a part of it!
1) You do not owe anyone that cannot show the proof that you do.
Don’t let others draw you into complicated situations that can confuse folks and especially you. Just keep coming back to it being simple and easy to understand by a jury of YOUR peers.
Until THEY (and I mean whoever, since others are jumping in to claim you owe them as so many of us have paid whoever said we owed them) can get past number one above, all other talk is a waste of time so don’t be drawn in !!!
Also many are claiming they are owed by you, knowing it is a lie, and when not paid, claim it as a loss on their income taxes.
Crooks find ways to be crooked and this housing fiasco is a road to money for many people.
Bank of America has ZERO documents and still they try to steal, I am #179390507 and have dealt since 1/09 with Vice presidents of the office of pres. and each one lied and had forgery committed to back up the illegal business of trying to take my home.