According to NBC news and documents filed in a lawsuit, Bank of America routinely denied qualified borrowers the chance to modify their loans to more affordable terms and paid bonuses to bank staffers for pushing homeowners into foreclosure.
According to NBC news, “We were told to lie to customers," said Simone Gordon, who worked in the bank's loss mitigation department until February 2012. "Site leaders regularly told us that the more we delayed the HAMP [loan] modification process, the more fees Bank of America would collect."
In sworn testimony, six former employees describe what they saw behind the scenes of an often opaque process that has frustrated homeowners, their attorneys and housing counselors.”
To read more about the sworn testimony and the litigation, click on this NBC link.
In sworn testimony, six former employees describe what they saw behind the scenes of an often opaque process that has frustrated homeowners, their attorneys and housing counselors.”
To read more about the sworn testimony and the litigation, click on this NBC link.
