Whistleblower Says BofA Defrauded HAMP
(Reuters) – Bank of America NA prevented homeowners from receiving mortgage-loan modifications under a federal program in order to avoid millions of dollars in losses while benefitting from financial incentives for participating in the program, according to a complaint unsealed in federal court Wednesday.
The complaint unsealed Wednesday was filed by whistleblower Gregory Mackler, a Colorado resident who said he worked alongside Bank of America executives while an employee at Urban Lending Solutions, a company to which Bank of America contracted some of its HAMP work.
While working at Urban Lending, Mackler said he saw BofA and its loan servicing subsidiary, BAC Homes Loans Servicing LP, implement “business practices designed to intentionally prevent scores of eligible homeowners from becoming eligible or staying eligible for permanent HAMP modification.”
The bank and its agents routinely pretended to have lost homeowners’ documents, failed to credit payments during trial modifications and intentionally misled homeowners about their eligibility for the program, the complaint alleged.
BoA let through just enough HAMP modifications to avert suspicion and allay congressional critics, while not enough to incur any substantial losses to its own bottom line, according to the complaint.
“In other words, BoA has had it both ways. BoA has continued to maximize the value of its mortgage portfolio with anti-HAMP modification practices and managed to make money by committing fraud on homeowner,” the lawsuit said.
Full report from Reuters here…
Copy on the UNSEALED COMPLAINT below…
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4closureFraud.org
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United States of America v. Bank of America NA
Patricia Warmhold : it’s been eight years and they have been causing the most excruciating painful stress one can imagine, the physical sufferings brought on by the deliberate injustice of the justice system is someone no one can begin to imagine: I always I could cope with everything and anything – nothing is impossible if you approach it with determination: Not true: this stress is practically killing me, it’s debilitating, it’s numbing, it’s excruciating, it hurts: but they’re still at it (the attorneys for the defense /lender/broker who forged my information- just to get more commission out of me: they forged my original reverse into a conventional- using “YIELD SHIELD PREMIUMS” three times more than they would for white people- I am a minority senior citizen from a third world country and I now understand what the meaning of being abused by the system really means- it’s now eight years – six years: NO ONE CAN COPE WITH INJUSTICE- this is the injustice of our justice system: to agree with one of the world most complained about lenders as being home stealers, fraudsters, you name it they did it to me…they lied, they falsified my reverse mortgage information they inflated my income to more than $5,000.00 a month…they bogused the value of my house to more than $200,000.00 they have done outrageous things to me in order to lie and convince the judge to grant them the last word: they are lying in court, they lied in all the pages of the documents which they forged – they even forged the HUD STATEMENT- in every page they forged the original information I gave them and they refused to give me copies that day- THIS IS WHAT THEY DID TO ME:
Honestly whiesle blower who knew all this time and now decides to amitte this??
I been saying something was not right with the way my own home wrongful foreclosure was handled. Prior my loss march 29 2011. I contacted HUD back when I was still in home honestly I want to say 2010 dec nov but I’m not sure of the date that HUD Washington, D.C. Contacted me back. After I called to report the HUD approved program I was in NHSIE
This stuff happened to me with them jun – oct 2010
Plus I never left it out of my complantes all along
So where’s this leave me ?
Comeon I really feel as I’m in the dark on something I need to understand or someone is messing with my head!
I can’t figure it out. I’m not going crazy. Either
Someone has to make this right and talk to me not put shit in writing. My comprehension focus is bad now. I hate it. Please
How do I get in on the lawsuit?
I also want to get in on this lawsuit. I live in Denver and I have full written phone records –names, dates, conversation details — of every call I made to BofA from Spring of 2011 till this week (37 pages single spaced). I have records of which documents were sent when. And, I also have emails specifically asking my CRM about many of the delay tactics which were being used. I CC’ed of the emails to a third party as well to make sure they can be used in court (no privacy issue).
I am still fighting the good fight against Bank of America
Excellent that this has been unsealed – and thank you for posting this!!
Really…in agreement with others here – it just floors me that with all of the evidence of outright fraud at an extreme level — no one has been punished. The banks rule – they can do as they please without fear of punishment.
I am sick to death of the corruption.
No Way! I broke this story on March 3rd way before Reuters!
Link: http://piggybankblog.com/2012/03/03/bank-of-america-gave-a-death-threat-to-employee-who-is-now-in-witness-protection-program/
My name is John Wright AND I AM FIGHTING BACK!
John Wright
Piggybankblog.com
The problem: the Gov just triple the incentives to banks for HAMP without any teeth (again) so what that means is that B o A is going to keep DEFRAUDING HAMP and the homeowners but will be receiving the triple $$$ in incentives WTF??
The real truth and what these evil criminals are really trying to hide is it is the FEDERAL RESERVE that set us all up to fail and robbed us and they still are to this very day…in the form of the FEDS.. fascist deflationary and inflationary monetary policies and fraudclosures and the GSE’s ongoing robbery of the U.S. TREASURY DEPARTMENT VIA THEIR PERPS LIKE HANK PAULSON AND LARRY SOMMERS…ANYONE HEAR THAT LARRY SOMMERS IS ONE OF THE NAMES BEING MENTIONED FOR SOME BIG JOB WITH THE WORLD BANK..? Their is the proof about who the REAL TRAITORS ARE AND THE REAL OWNERS OF THE FEDERAL RESERVE AND ALL OF THE BANKS AND CREDIT UNIONS ARE IS THE WORLD BANK…AND THEY ARE WHO HAVE HIJACKED AND ROBBED EVERYTHING FROM THE AMERICAN PEOPLE UNDER THE GUISE OF MONEY LENDING AND TAXES …ETC…ALL BIG LIES…THEY DO NOT LEND ANY MONEY…WE THE PEOPLE LEND THEM OURS…. THAT IS HOW THEY CONTROL AND HAVE HIJACKED WALL STREET AND THE CME….AS WELL AS ALL OF THE LARGE MULTINATIONAL CORPS AND OUR NATURAL RESOURCES…..IT IS A GINORMOUS AND EVIL MONOPOLY THAT TEDDY ROOSEVELT WOULD HAVE SHUDDERED AT THE THOUGHT OF…AND TRIED TO PREVENT WHEN HE WAS PRESIDENT……….THESE EVIL AND SNEAKY CRIMINALS ARE HIDDEN EVERYWHERE. They are posing as Americans but they are working for our enemies at the top of the evil pyramid…..and that includes Obama, Biden and Rahm Emanuel..as well as Romney, Santorum and Gingrich…THE WAR MONGERS…WHO WANT AMERICA TO BE AT PERPETUAL WAR SO THAT THESE NWO GLOBALISTS CAN KEEP ROBBING US OF OUR WEALTH AND OUR FREEDOMS.
IMHO…. THE AMERICAN PEOPLE SHOULD BE SUEING THE FEDERAL RESERVE BANK RIGHT NOW…..THE PEOPLE OF THE UNITED STATES OF AMERICA -V-THE FEDERAL RESERVE BANK…
BOFA AND CHASE, ARE THEIR PERPS AND ARE THE TWO BIGGEST BANKS THAT HAVE HALF OF THE CONTROLLING INTEREST IN THE FEDERAL RESERVE BANK AND SIT ON THE BOARD OF THE FED RESERVE…THE OTHER HALF IS COMPRISED OF A TRUST OF THE RICHEST COCKSUCKERS IN THE WORLD…WHO HAVE BEEN ROBBING THE AMERICAN PEOPLE BLIND EVER SINCE THE UNCONSTITUTIONAL AND ILLEGAL INCEPTION OF THE FEDERAL RESERVE IN 1914…GOOGLE SEARCH IT…THESE PEOPLE ARE EVIL AND SUEING BOFA AND CHASE IS BEING — USED AS A SHOCK ABSORBER TO PROTECT THE REAL EVIL HERE….THE FEDERAL RESERVE BANK…..WE NEED OUR OWN CURRENCY…U.S. BANK AND NOTES BACKED BY OUR OWN RECOVERED, HIJACKED STOLEN WEALTH….ISSUED VIA STATE BANKS…..THAT IS THE ONLY PATH TO TRUE FREEDOM, INDEPENDENCE, PROSPERITY AND NATIONAL SOVEREIGNTY…AND FREE MARKET CAPITALISM WILL BE ABLE TO BREATHE AND WORK AND LIVE AGAIN IN THE UNITED STATES OF AMERICA….CRONY AND VULTURE CAPITALISM MUST BE STOPPED AND THE FEDERAL RESERVE BANK MUST BE ABOLISHED……! PLEASE GOOGLE OR YOU TUBE SEARCH ALL ABOUT THE FEDERAL RESERVE AND THE WORLD BANK AND FIND OUT WHO THEIR CRIMINAL OWNERS REALLY ARE…
Who knew!!! The average dead beat homeowner knew this all along. And it is coming out now what BoA is doing and it is my guess that other banks are doing the same thing also. Unbelievable.
Big wup! What are they going to do? Fine them? Give me a break! This country has become so corrupt!
Throw a few of them in jail! For FRAUD!
…and still no one will go to jail.