How Bank of America Defrauded America

Did Bank of America (NYSE: BAC  ) enrich itself by defrauding potentially millions of homeowners who requested loan modifications under the 2009 Home Affordable Modification Program, or HAMP? Yes, or at least that's what six of its former employees are claiming in a class action lawsuit being waged in a Massachusetts federal court. But while the allegations are stunning and disappointing, I'm sad to say that they aren't surprising.

When President Obama announced HAMP in a speech on Feb. 18, 2009, he said its purpose was to "create new incentives so that lenders work with borrowers to modify the terms of subprime loans at risk of default and foreclosure." While subprime loans made up only 12% of mortgages at the time, they accounted for roughly half of all foreclosures.

In Obama's words:

Right now, when families with these mortgages seek to modify a loan to avoid this fate, they often find themselves navigating a maze of rules and regulations but rarely finding answers. Some subprime lenders are willing to renegotiate; many aren't. Your ability to restructure your loan depends on where you live, the company that owns or manages your loan, or even the agent who happens to answer the phone on the day you call.

My plan establishes clear guidelines for the entire mortgage industry that will encourage lenders to modify mortgages on primary residences. Any institution that wishes to receive financial assistance from the government, and to modify home mortgages, will have to do so according to these guidelines -- which will be in place two weeks from today.

If lenders and homebuyers work together, and the lender agrees to offer rates that the borrower can afford, we'll make up part of the gap between what the old payments were and what the new payments will be. And under this plan, lenders who participate will be required to reduce those payments to no more than 31% of a borrower's income. This will enable as many as 3 to 4 million homeowners to modify the terms of their mortgages to avoid foreclosure.

The reality, as we soon came to find out, was that HAMP wasn't passed with the intention of helping homeowners, but rather to serve as an additional backdoor bailout for the banking industry. Neil Barofsky, the former special inspector general in charge of the oversight of TARP, discussed this point in his book Bailout. Recounting a conversation he and Elizabeth Warren had with then-Treasury Secretary Tim Geithner, Barofsky noted (emphasis added):

Geithner apparently looked at HAMP as an aid to the banks, keeping the full flesh of foreclosures from hitting the financial system all at the same time. Though they could handle up to "10 million foreclosures" over time, any more than that, or if the foreclosures were too concentrated, and the losses that the banks might suffer on their first and second mortgages could push them into insolvency, requiring yet another round of TARP bailouts. So HAMP would "foam the runway" by stretching out the foreclosures, giving the banks more time to absorb the losses while the other parts of the bailouts juiced bank profits that could then fill the capital holes created by housing losses.

And it's here where the new allegations about Bank of America come into play. According to a handful of affidavits recently filed in the case by former employees of the bank, they were instructed to intentionally delay the loan modification process, and to deny otherwise qualified applicants for made-up reasons. They were even rewarded for sending homeowners to foreclosure. "[Supervisors] regularly told us that the more we delayed the HAMP modification process, the more fees Bank of America would collect," one former employee said. He went on to note:

Employees were rewarded by meeting a quota of placing a specific number of accounts into foreclosure, including accounts in which the borrower fulfilled a HAMP Trial Period Plan. For example, a [loan collector] who placed 10 or more accounts into foreclosure in a given month received a $500 bonus. Bank of America also gave employees gift cards to retail stores like Target or Bed Bath & Beyond as rewards for placing accounts into foreclosure.

My point here isn't to pile on top of Bank of America or even its purported partner-in-crime, the Treasury Department. For what it's worth, I both own Bank of America stock and am a relatively content customer.

My point is instead to highlight the unfortunate reality that most of the nation's largest banks aren't run for their customers, or, for that matter, their shareholders. And lest there be any doubt about the latter, over the past five years, Bank of America's stock has returned a negative-50% while the S&P 500 (SNPINDEX: ^GSPC  ) is up by 35%. It accordingly follows that while the executives responsible for policies like these will invariably receive their exorbitant salaries and bonuses, the responsibility to actually bear the financial consequences will fall to those who own its stock.

Many investors are scared about investing in big banking stocks after the crash, but the sector has one notable standout. In a sea of mismanaged and dangerous peers, it stands out as The Only Big Bank Built to Last. You can uncover the top pick that Warren Buffett loves in The Motley Fool's new report. It's free, so click here to access it now.


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  • Report this Comment On June 22, 2013, at 3:26 PM, victork78 wrote:

    If BOA were a person it would be in prison. Well, maybe not because it would hire a good lawyer that would find a misprint somewhere in the arrest warrant and it would walk scott free.

  • Report this Comment On June 22, 2013, at 4:28 PM, animald wrote:

    B of A screwed me back in the late 60's and haven't been back since. Even after the bail out, people still can't get a break with this bank.

  • Report this Comment On June 22, 2013, at 4:36 PM, 2smartforlibs wrote:

    Bank of America huh. Nothing in here about the community reinvestment act that was the sand this was built on. Of Barney Frank that went nuts when Bush wanted to investigate Fanny and Freddy saying they were fine and Bush was wasting money. This just months before it feel apart and Frank and Dodd made out like fat rats. Just BoA

  • Report this Comment On June 22, 2013, at 4:46 PM, dadx wrote:

    hard to believe that a bank would really want to screw its customers

  • Report this Comment On June 22, 2013, at 4:52 PM, gknesley wrote:

    Just a question: Was Eric Holder ordered to ignore the criminal behavior of the banking system that stabbed middle America in the back, or is he just incompetent?

  • Report this Comment On June 22, 2013, at 4:52 PM, neamakri wrote:

    Do what I did, moved my money from a bank to a Credit Union. They have free coffee, treat me nice, and listened when I considered getting a car loan. When I walk into "our" Credit Union I feel "warm". How do you feel when you walk into your bank, "cold and impersonal"? Vote with your money, put it in a Credit Union!

  • Report this Comment On June 22, 2013, at 5:06 PM, govtisscum wrote:

    So what else is new. B of A is no different to it's customers than our government is to it's citizens.

    I'm waiting for them to tell me I can't use their services because I own guns and also support the second amendment. A company who did business with them in Phoenix for over 12 years was told this by B of A big shots. The company manufactures guns and accessories.

  • Report this Comment On June 22, 2013, at 5:07 PM, inreality01 wrote:

    For once I'd like to see an article about how the government, government officials and politicians have defrauded all of us and then go down a long list of everything they have done, haven't done and promised.

    Government does more damage in 1 day to us than every business combined could ever think of.

  • Report this Comment On June 22, 2013, at 5:16 PM, hirolr66 wrote:

    I hate that my mortgage was sold to these scumbags. From out of the blue in 2011 my mailed payments were mysteriously not getting processed and I started getting hit with late fees and then they said I was a month behind and started pushing foreclosure notices. Yet, every time I called them, they said my account was fine and in good standing. Now I pay online and I get charged $6.00 for the transaction. To make matters worse, it took about 7 months to get my "late or missing" payment ordeal straightened out and it hit my credit pretty hard. Other lenders were uncertain of working with me or not giving me a decent enough apr to make it worthwhile to leave.

  • Report this Comment On June 22, 2013, at 5:21 PM, kambizk wrote:

    When B O A is on the news becuase f o Home modification program?In my case they transferred my mortgage to a debt collector so my loan can't be modified.No help at all from B O A but the harrassment continues to collect payments at 6.34% with 20 more years left on the loan.And being current don't mean anything to the either.Tough times for middle class being ignored while top excutives collect their hefty bonuses!!!

  • Report this Comment On June 22, 2013, at 5:29 PM, sneakers123 wrote:

    I went through a divorce and was awarded the house - that's because we were two months behind on the mortgage. I tried for 18 months to have my loan processed under HAMP. Each time I'd send in the information that BOA requested, they'd sit on it for three months and then say it was out of date and had to be resubmitted. We did this twice and then I said the heck with this and started pushing it up their chain of command. I told them we can either settle this in compliance with HAMP, or we can discuss it in court. That was the right button to push because then I got all the help that I needed. My mortgage was finally modified to a level that I can afford.......

  • Report this Comment On June 22, 2013, at 5:33 PM, louismoore1 wrote:

    So glad these six people have testified and confirmed what I believed must be happening at BofA. After the Home Affordable Act passed, I determined that our mortgage was neither owned by Fannie nor Freddie, which would have allowed us to refinance under HAC at a low cost. BofA had put our mortgage into its Bank of America Funding 2009 ST1 Trust, which one banker described as a way to "take mortgages off of its books". To determine that fact took unnecessary effort and research on my part. The bankers in the home loan department at BofA refused to tell me who owned my mortgage. I was basically told it was none of my business. Simultaneously I was totally unable to get to first base with BofA about refinancing my mortgage to a shorter term with lower interest. I sensed that something was rotten inside the bank, so I kept researching until I finally found a banker who told me about BofA Funding 2009 ST1 Trust.

    By the way, I was never late with a payment and was in fact more than 18 months ahead in my payments at that time. Knowing what I know now, I'm sure BofA kept me in its clutches because the 6.58% rate I was paying faithfully and consistently helped offset the other mortgages in BofA Funding 2009 ST1 Trust that were in trouble or going into default. Then I found out that BofA Funding 2009 ST1 was one of those instruments that BofA was selling off in the kind of pieces that brought down the whole mortgage industry in 2008. When I made the discovery, all I could think was "unethical, unprofessional, possibly illegal". BofA is getting what it deserved for the past five years.

  • Report this Comment On June 22, 2013, at 5:40 PM, rmk0209 wrote:

    Are we supposed to be surprised by any of this? Corporate America stopped treating people (and their own employees) like humans starting back in the 80s at least. Even before that the impression that any company cared about their customers (or people in general) was just that ! an impression.

  • Report this Comment On June 22, 2013, at 5:52 PM, Pman1957 wrote:

    I was a customer of B O A in 2007 while i lived in south carolina and got screwed by them for thousands of dollars in unemployment moneys they would do the high \low system for taking payments out of my checking account and when I questioned them they said they can do what they want its there right to process payments as they pleased I have never gotten any of those overdraft fees back as of yet.It wasnt bad enough that i lost my home in 2007 but now i get taken advantage of by a bank I trusted.I transferd all accounts to sun trust bank and had no problems since.I say sell all of you BOA stocks If you want to keep your money safe,because a bank that takes peoples unemployment money for ilegal bank fees is not a bank to trust.I say invest in Sun Trust bank at least there honest with there customers and the do not steal from customers

  • Report this Comment On June 22, 2013, at 6:04 PM, JINNMINER wrote:

    BofA should be shut down for fraud and cheat.

    I know about 200 people on my blog group were defrauded by BofA.

    Bank of America now using Albitt & Scofield Law Firm out of Palm Beach rushing ROBO signers to execute assignment of fraudulent mortgages from Countrywide & MERS to foreclose just like how David Stern was hired to do.

    Shame on you Bank of America.

    Those congressmen and Senators who bed with Bank of America must be impeached and removed from the office.

    Bank of America should be shut down immediately.

  • Report this Comment On June 22, 2013, at 6:07 PM, JINNMINER wrote:

    FYI

    BofA is selling you good mortgage to SPS Servicing, Green Tree Servicing and ALLY Financial Servicing to service your loans. The truth is BofA sold your toxic loan to Hedge FUND guys and these companies are setup by BofA to service.

    Bank of America id once again committing fraud and getting away with it.

  • Report this Comment On June 22, 2013, at 6:14 PM, btc909 wrote:

    When you modify a home loan with BofA the first person you call is a company that deals with loan modifications. Chances are you will need an attorney to get your loan modified and a company who knows how to play BofA games.

    Glad I never went with Countrywide in mid 2007. "you're making a mistake" Rrrrright. The 20K they were going to "give me" was all but eaten up by points & closing costs.

  • Report this Comment On June 22, 2013, at 6:31 PM, GEENAB65 wrote:

    I was one of the Countrywide suckers. BOA bought my loan and has been lying ever since. What I don't understand is why do we keep giving the banks time to pay up and why did we give them the decision to choose who gets the money?!?!? YOU LIE, therefore everyone you defrauded gets their home paid for courtesy of BOA. That's what happens when you lie, cheat and steal!!!!

  • Report this Comment On June 22, 2013, at 6:45 PM, harry1948 wrote:

    BOA does NOT deserve to have America associated with it's name. They're real name is "Bank Against Americans". Banks like this are creating more damage to us than any terrorist organization could ever accomplish. Politicians who secretly condone this type of bank activity should be removed from office immediately and prosecuted as terrorists.

  • Report this Comment On June 22, 2013, at 6:46 PM, ChrisMcPhail wrote:

    A basic truth is that we may only loan what we have. If we have a dollar, we may loan a dollar. Yet, under the fraud of fractional reserve banking, banks loan more than ten times the money they actually have.

    Fractional reserve banking is a ponzi scheme whereby banks create money out of thin air through fraudulent book keeping, loaning non-existent money out at interest. It is no different than counterfeiting. In collusion, fractional reserve banks counterfeit more than 10 times the amount of money that they actually have deposited, and charge interest on it all. Since money represents labor, fractional reserve bankers are effectively robbing the value of everyone's labor through this fraudulent scam.

    "If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered." - Thomas Jefferson

  • Report this Comment On June 22, 2013, at 6:47 PM, Rusty56 wrote:

    The author is clueless.

  • Report this Comment On June 22, 2013, at 7:09 PM, sagehopper wrote:

    We tried to get a Refi within BofA, who owned our mortgage..they bought the mortgage from our original lender, without our being even asked about ti..We were given a figure of how much it would cost us for the loan closing..But when we talked to the main office, the gentleman quoted costs and bank balances we "had to have" as three times what the original contact person gave us..and they wanted all our credit info again, though they were not supposed to do that..and wanted all the past tax forms, etc..Wasn't streamlined at all..Then, they just sold our mortgage (never late on a payment) to one of the worst mortgage holders in America..I am not, and never will be a BofA fan.

  • Report this Comment On June 22, 2013, at 7:13 PM, whoohah84 wrote:

    I love to earn money, just as much as the next guy, but I refuse to put a dime into a company who sole purpose is to screw people over.

    These people have been paying low level employees 500 dollar bonuses to take homes away from families across the country.

    It may not be you this time, but I have no respect for this company.

    Their financial wizardry is nothing but smoke and mirrors. This company is full of thieves and they deserve to be put down. If this were a person screwing people over, HE would be in jail. But they pay their fine, walk away and continue the exact same thing.

    Bad business Period.

    I would rather make money somewhere else.

    And then again, maybe I am naive to want to help my fellow man, but I refuse to contribute to hurt my fellow man.

  • Report this Comment On June 22, 2013, at 7:20 PM, raygradual wrote:

    B of A executives should be tried for treason!

  • Report this Comment On June 22, 2013, at 7:21 PM, breakBofAnow wrote:

    We won a out of court,of course, settlement from then Countrywide/now BofA, which is Pennymac under all those names. CW,& Pennymac are the same fraud foreclosure co. with the same criminals, minus A. Mozzilo, he was charged with mortgage fraud, for some reason he cannot do that anymore to us. so he handed the baton to Stanford Kurland, Jr. CEO for, then CW. These bankers are allowed to keep committing these crimes to home owners. Wells Fargo alone, defrauded on over 4million homes. Today they earned the "HALL OF SHAME" award in hollywood.

    If you sue them, they will NEVER go to court on a jury trial for Mtg. Fraud. They always settle out of court. With this president not doing, nor saying anything about these criminal leaves everyone thinking,Is He in on this? are congress D-R, the lawmakers? the judges? WHY ARE THEY ALLOWED TO COMMIT THESE CRIMES TO AMERICA?

    Bernie Madeoff was sentenced to 200 lifetimes in less then six months, they came at him with all the big guns. WHY?, because he worked alone. He didn't pay the president, congress, law makers, judges, or for police protection, is my only guess.

  • Report this Comment On June 22, 2013, at 7:25 PM, breakBofAnow wrote:

    If Wells Fargo, BofA, Case, Morgan Stanley, City Mtg. are offended by anything I said on the above blog, SUE ME !!!! . I'd love to see them in court.

  • Report this Comment On June 22, 2013, at 7:36 PM, tyd32 wrote:

    This is true and if you have a mortgage with them you need to join this class action suit. I am former employee and half the time they have no intentions of modifying your loan. they will hold off as long as possible mostly however because the RM that are handling your accts are not licensed or poorly trained they took a whole group of collectors and made them RM's or will hire a temp agency to bring ppl off the street with no knowledge of mortgages latter know modifications. I talked with another employee who said because they were so behind they would just fax the documents to themselves and put the customers signature on the documents last I checked that was illegal. They would tell customers dont pay your mortgage and then when these customers get the mod done they either forget to add the escrow balance or just dont tell the customer then the cust is still stuck with a huge mortgage because they are 3 years behind on their taxes and insurance. Real group of winners bank of america is stay away.

  • Report this Comment On June 22, 2013, at 7:41 PM, NotaFool59 wrote:

    BofA IS our government...the behind the scenes (invisible) government.

    I sold my last house in 2005 and refrained from buying another house because I had lost my job and didn't have income to qualify, in the conventional sense. I eventually did get a job a year later but in the "common" sense, I refrained from in-debting myself.

    What gets me is all these people who went into debt up to their eyes now expect all of us who had the sense to NOT get into debt to bail them out.

    My question to all of you who have that expectation: What were you thinking when you took that vacation, or bought that new car with your 150% LTV loan? Do you think its fair that I should take the money I had been saving for my down-payment and give it to you so you can keep your overpriced, underwater home? You need to suck it up like I and the rest of the common sense folks and count your losses. I will say I'm sorry you got caught up in the "loan frenzy"....don't worry, my own daughter did the same thing, luckily, her husband had a good job and is able to pay off their loan....but stop being selfish and asking only "whats in it for me?"....

  • Report this Comment On June 22, 2013, at 8:00 PM, bohia6525 wrote:

    It amazes me how a bank can make the whole government look like a bunch of complete AS***es.

    I would rather hat the banks run the country, then as least you would know where you stand.

  • Report this Comment On June 22, 2013, at 8:02 PM, Docderpepper wrote:

    BOA cheated lied and swindled a lot of people and no one has went to prison for it. Instead the Government gave them bail-out money which has never even been repaid. Maybe they need to be foreclosed on and see how all those big rich BOA executives like it.

  • Report this Comment On June 22, 2013, at 8:15 PM, popeye1250 wrote:

    I tried to refinance with BOA THREE TIMES.

    They said I "only needed to supply three (3) pieces of info."

    Next thing I know I'm talking to three people in Atlanta, Dallas and Phoenix and they want 50 pieces of info and neither of them knows who the other ones are!

    After three years in a row of doing that I finally figured out what they were doing, they were making the VIG on appraisals.

    I hope they go out of business.

    No bailouts for them!

  • Report this Comment On June 22, 2013, at 8:24 PM, blackangel1 wrote:

    I am in Little Rock, AR. I have my mortgage with BOA. I hate it! They bought my mortgage from my former mortgage company out without my knowledge or approval. I had four surgeries and I got behind on my bills. I was trying to get caught up, and I couldn't. I read about President Obama's plan to help homeowners. BOA said they couldn't help me with a modification and to borrow my payment from a family member or friend. I was three months behind. I borrowed the money, and guess what I got behind again. I tried again and I was turned down again. So I tried for a third time. I sent in multiple papers in regards to my income, my bills, and judgments against me. Guess what! They lost it. I re-mailed it in and I faxed it in. Guess what! They missed place my papers again! They claim they had so many people trying to help me that my papers could be anywhere. This was the period of a year and a half. I started a temporary modification two months ago. How is this going to help me? I need something permanent. I have a co-worker that has their mortgage with someone else and she has a permanent modification. I was embarrassed to say that I had a trial one. WHAT CAN I DO?! I Need help in Arkansas.

  • Report this Comment On June 22, 2013, at 8:25 PM, kkj02d wrote:

    City Mortgage is another devil in the dark. They doing the same thing as Bank Of America doing. They delaying the Modification process by lying you that they didn't get the documents on time even though you send your documents by certified mail and lot of other stupid excuses. Their purpose is to make sure your loan is not being modified and kick you out of your home ASAP.

  • Report this Comment On June 22, 2013, at 8:37 PM, Donzie2012 wrote:

    We tried to get a Loan Modification with Bank of America, when I was laid off after 27 years & had to take a lower paying job. They kept giving me the run around about our papers never being received, or that something else was needed. When we got them what they asked for, they would then want updated paycheck stubs or some other item when I sent them everything on their original list.

    They kept lying to me, saying that our home would not be foreclosed on because our acct was in review for a Loan Modification. Well guess what happened...........they foreclosed on our home & I had to file bankruptcy to keep my home!

    The loan modification officer didn't believe me until I gave her the name & phone # of the guy who tried to buy our foreclosed home. He had the nerve to come to our home & tell my children, he now owned our home!!!!!

    I had been with Bank of America MTG for 20 years & just couldn't believe the way they treated me!

  • Report this Comment On June 22, 2013, at 8:38 PM, birder1500 wrote:

    I am very sorry. When discussing BAC, I can not do so and be respectful so I guess I will have to abstain.

  • Report this Comment On June 22, 2013, at 8:41 PM, whiskeywidow wrote:

    I lowth B of A read your comment Kambizk and 3 months ago B of A sold my loan to Greentree Servicing LLC. So I know what its like. My husband passed away in 2012. B of A said, they would help get a lower rate if I sent them the document's of my husbands death certi, and my appointment of addministrive. Then the next thing I knew they had given my loan to GREENTREE

    and now I can't get refinanced. B of A are crooks and should be in jail I CERTAINLY AGREE WITH ALL THE COMMENTS MADE. WE THE PEOPLE WHO HAVE BEEN DEFRAUDED BY B OF A SHOULD FORM A MARCH AGAINST THEM AND OUR GOVERMENT FOR THIS UNJUST ACT AGAINST AMERICANS WHO TRY TO MAKE AN HONEST LIVING. B of A YOU SUCK.

  • Report this Comment On June 22, 2013, at 8:57 PM, BofAvictim wrote:

    NotaFool, the percentage of people who did as you are accusing is SO small compared to the percentage of people who did things "right" and were simply scammed by Bank of America, et al. I didn't buy a house I couldn't afford and I didn't have a second on it. My house had doubled in value until so many other houses went into foreclosure because of the banks' fraudulent activities that my loan was "turned" upside down by the banks behavior, not mine. When life circumstances force a homeowner to solve an unexpected financial problem...and the bank tells them "we have this great new modification program called HAMP, sign here"...people apply for it. This was something offered BY the banks. You are talking about original loans, which was the EARLY problem when the banks were tricking and scamming people on their original home loans. That was a LONG time ago and hasn't been THE problem in many years. The current problem stems from HAMP modifications, which was supposedly designed to fix the problem you are talking about. The banks have misused the HAMP program and have deliberately caused millions upon millions of people to lose their homes (and cost some people their lives). Our government officials (all the way up the chain) have done nothing to bring the bank criminals to justice. They pretended to with their lawsuit a year or two ago but the money they banks had to pay did not go to the victims, it went to the states and into loosely connected funds or charities and the like. The promises the bank made in that settlement to stop what they were doing were broken before they were ever made. They are still doing it. And the feds have done nothing to hold the banks accountable for violating the terms of that settlement agreement. These banks should be charged with crimes against humanity for literally stealing the homes from and displacing millions of trusting customers and their families and single handedly destroying America's economy in the process. Grand theft, extortion, fraud, unethical and deceptive business practices, possible insurance fraud, forgery, contempt of court, and I'm sure a slew of other crimes. Millions of witnesses, document evidence, recorded evidence, proof WAY beyond even a shadow of a doubt. The corporation is an individual and so there is no reason for them to have not been charged with these crimes. In my opinion, every single government official who was written to and begged for help but didn't bother to do a thing to help ought to be in prison right behind them. And anyone, dear author, who is engaged in any business dealings with any of these banks has blood on their hands as well. None of these banks would be able to continue this assault on Americans if they didn't still have customers keeping them in business.

  • Report this Comment On June 22, 2013, at 9:05 PM, DamianPalmares wrote:

    "I am former employee and half the time they have no intentions of modifying your loan. they will hold off as long as possible mostly however because the RM that are handling your accts are not licensed or poorly trained they took a whole group of collectors and made them RM's or will hire a temp agency to bring ppl off the street with no knowledge of mortgages latter know modifications."

    Exactly tyd32. I worked for BofA for about a year and it seemed to me that no one in that loan modification department, including underwriters really wanted to approve any loan modifications at all. Because they pulled people off the street and paid them $22 an hour to handle the modification process, no one really cared. Half the people in that department had no prior mortgage experience or they were collections or customer service, including managers and they didn't care about helping anyone. You received the same credit for declining someone as you did for approving them and sending that file for final underwriting.

    I have about 8 years or so experience as a broker, processing and originating my full pipeline and only took the position to help out some home-owners but it was pretty obvious to me that they weren't there to help. By the time you received a file, you had to call the homeowner back and request all new documentation because it was over 3 months old and 75-80% of the people I dealt with had already sent in full paperwork two or 3 times and it should have been taken care of a long time prior my receiving of their file. It was a complete Cluster F and I left because there really wasn't any point.

    They tried to recruit me into a loan officer position about a month after I left and I told the recruiter on the interview everything that happened over in that department and that I really wasn't that interested in that position. The reason I worked as a broker was to work against the bank and or/for the client, because in my opinion if you work for the bank, the bank's interest comes first and that's not how I operate.

  • Report this Comment On June 22, 2013, at 9:10 PM, turtle393 wrote:

    Bank of America has been defrauding its customers for YEARS! Way back in 2000 to 2002 we lost our home due to their private agency that accepts payments. NOTE: THIS AGENCY AND BANK OF AMERICA WERE SUED IN A CLASS ACTION LAW SUIT. WE WON THE SUIT. THEY REFUNDED MONEY BUT NEVER PAID THE STOLEN PAYMENTS BACK TO THE ACCOUNTS. SO THEY WERE SUED AGAIN AND AGAIN THE PUBLIC WON.

    Bank of America is owned by Bank of New York. Bank of New York is owned by THE WORLD BANK. NOW you know why they keep ripping people off.

    NO ONE should put their money in ANY bank. Put it in credit unions! When the economy took a dive ONLY credit unions had no problem with their finances because the money they deal with is used locally unless an investor ASKS for international investments.

    IF ANYONE has any sense about them they will leave their banks and go to the nearest credit union where your money is circulated in your own community and you wont be ripped off.

  • Report this Comment On June 22, 2013, at 9:12 PM, turtle393 wrote:

    I worked for B of A for 2 years in a call center. I quit when they let us know that going forward we would have to offer credit cards and other such accounts EVEN to customers who were already in the red in their accounts. Told them that's unethical and I left. Along with about 10 to 20 others who did the same. To this DAY they still do this. They are the worst bank in the world and I will NEVER do business with them again.

  • Report this Comment On June 22, 2013, at 9:17 PM, wizarddrummer wrote:

    Come on America WAKE UP!

    Quit whining and complaining.

    Google the Revolution in Iceland!

    The people (not using the corrupt voting process) had a peaceful revolution; they came together as ONE and:

    Threw out the crooked Politicians.

    They rounded up and JAILED the crooked Bankers.

    They FORGAVE all of the Debt to home owners that was created by the crooked greedy bankers and

    They wrote a NEW IMPROVED Constitution.

    Today their economy is growing and the corruption is GONE!

  • Report this Comment On June 22, 2013, at 9:57 PM, screwedover wrote:

    I had a loan mod.2009 they put the past due on the end of the loan but did not applied it to the payments so I still owed so all the late fees, drive byes 30 a pop to see if I lived in the house, assessment fees until 2011 then because of health reason and them refusing to make it right I quit paying went to a lawyer they wanted 1500 didn't have. Now I'm in a temporary mod only because of the Attorney General I cant get any credit Not even a Wall Mart card and the only thing against me is this Bank of S--- and every loan person says clear it up. It will on my credit till 2019 all theses late payments. Would love to join a law suite B A SHOULD BE SHUT DOWN AND IN JAIL

  • Report this Comment On June 22, 2013, at 10:07 PM, donlargo wrote:

    BOA has a long and dark history, so it should come as no surprise that they are raping the public--again. That is what they have always done, and the public seems to rather enjoy it.

    They learned their lesson well from the 70's where banks got greedy and foreclosed on all those VA loans. They foreclosed on so many assets that they lost too much liquidity and went under--like a drowning man clinging to his gold ingots. This is why they knew that they needed a way to disperse the foreclosures this time in order to maximize the profit potential. If all the foreclosures come at once, they know that they will have to forgive a lot of them in order to avoid cash flow problems, but they don't want to miss out on any of the free money coming from those foreclosures.

    As for the writer knowing all this and still having investments in BOA, that is an issue between him and his conscience.

  • Report this Comment On June 22, 2013, at 10:30 PM, Saudade53 wrote:

    It it very well known, and in 2008 was denounced, that BA was laundering money for Mexican drugs dealers and nothing was done about that... Since 2004 every lender known that house loans was the best way to laundering money in America..Were the American politicians blind about that, or partners in the business?

  • Report this Comment On June 22, 2013, at 11:19 PM, Martininsocal wrote:

    I guess I am going to follow up with a complaint to the State AG. I have been battling BofA for almost 2 years. When I first approached them about a refi (I was not behind on payments) they thanked me for being current, told me I was 'good' and hung up on me. Guess they wanted to continue that 5.75% 30 fixed that they had gotten when they bought Countrywide. I tried multiple times to get a refi and they told me no. They told me to try for a modification which I knew I wouldn't qualify for because I had good income and wasn't late on payments. They denied a modification application after almost a year. I went to another lender and applied for a new loan. Guess what? BofA dinged my credit with a 30 day late on my credit card account. When I disputed it, they said they could not change it, even though I had all the proof needed to show that I was never 30 days late on a payment. They continued to be snotty, rude, etc... 18 months later, I was finally able to refi with another lender although the rate was a bit higher than the low rates at the time due to my 'credit history' with the reported late by BofA. This article is kind of the final straw. They deserve all the bad karma payback they get now.

  • Report this Comment On June 22, 2013, at 11:20 PM, nolefann wrote:

    I went through the HAMP with BOA and it was a nightmare! They must have lost my paperwork 3 - 4 times and even told me I was disapproved on the phone 2 weeks after I received my final approval and sent back all the required paperwork to make it final (The trial was supposed to be 3 months) A week later i was told they made a mistake and not to worry. They Congratulated me on the new loan and said it will take a few months for the signed copy to get back to me. Well, 4 months later i received a call from an insurance company (forgot exact title) that pays BOA a percentage if the loan goes into foreclosure, wanting to know if they could help. I told them i was good to go, and they said to call BOA and find out what going on. Well, to make a long story short, BOA did nothing with my final loan approval and it took another 11 months to get it straight. Each time i called (Which was weekly) they kept telling me the same lie that it was done. After I got a foreclosure notice, I called Fanny Mae, the Attorney general, and the Hope hotline, which did nothing . Finally found a forum that had the Office of the President at BOA's number. I called and what these customer service Yahoo's couldn't do in over a year, this lady there did in 4 days. Worst company ever and I am grateful my loan was sold to Greentree.

  • Report this Comment On June 22, 2013, at 11:21 PM, smcmc wrote:

    I won't own tobacco stock. My broker talked me into Citigroup, but I regret owning any bank stock. I really have hated BOA ever since it scammed me with a credit card come-on over 15 years ago. I realize it's made money for its investors, but I think they should dump it. At some point, we all need to put--or not put--our money where our mouths are. Corporations should be held to common standards.

  • Report this Comment On June 22, 2013, at 11:26 PM, DamianPalmares wrote:

    Investing in BofA and agreeing with what they do as a company or a financial institution are two totally different things. Just because he owns their stock does not mean he is like them. To make money in stocks, a lot of your sentimental and goody feelings toward a company have to be thrown out the window. I bought BofA after they were beat down and the stock price was around $5 a share. What is it worth now ? $12 a share. You do the math...$5 at $100,000 ...20,000 shares X 12.00= $240,000 dollars on initial investment of $100,000. Not a bad ROI if you ask me. My point is just because you invest in a company or a bank, it doesn't mean you hold the same vision or values they do so who cares who he invests in, it's his money.

  • Report this Comment On June 22, 2013, at 11:33 PM, WileyCyote wrote:

    With all the damage done by good ol' BAC why hasn't there been an army of people sent to jail for a VERY long time????

    Did I miss the trails???

  • Report this Comment On June 22, 2013, at 11:43 PM, imjustsaying wrote:

    I worked at B of doing loan modifications for a year. Borrowers CRM's are at fault for delay or in many cases borrwers not getting mods.

    Process support (the people who do get mods completed) are not allowed to contact borrowers for docs needed, nor are they allowed to send letters for missing docs process support can create and send 1 letter to the borrowers for docs needed after the pre-qual calculator has been completed and only IF the borrower pre-quals based on verbal financials the CRM is then tasked 3 times in which they need to make 3 calls advising what add'l docs are needed 90% of the time they do not call. The CRMs have for unknown reasons gained access to this calculator and often tell the borrower they do not qualify for mod review-process support can run the same calculator and 95% of the time the CRM is wrong. The process support tech can have up to 200 loans in their queue -process support MUST touch each loan at least every three days CRMs can have up to 700+ loans and often brag about NOT doing any calls as needed and deleting tasks opened by process support. I hope B of A gets the crap sued out of them!

  • Report this Comment On June 22, 2013, at 11:57 PM, DamianPalmares wrote:

    They also use 3rd party document collection services, as well as the in house document collection...we had two that we used on our floor in Charlotte, besides using I-portal. You had to search all three services, separate the documents you needed from the repetitive documents, go over the bank statements, make sure every page was included, even the last one or we needed another copy.

    And 90% of the time they were not eligible just because of the time frame for the documents. They were not working them. When they came in to my queue, they were all old and expired and I was working a queue of 150 -200 applicants. Like I said, I went there to help, not to be slave driven and work for $22 an hour to fix your mistakes when you don't want to fix them or help anyways.

    It was a Cluster F.

  • Report this Comment On June 23, 2013, at 12:01 AM, DamianPalmares wrote:

    Honestly, I'm surprised I stayed there almost a year.

  • Report this Comment On June 23, 2013, at 12:20 AM, Jnicholas77 wrote:

    !!!!!!!VICTIM HERE!!!!!!!!!

    My mother has been a victim of this awful BANK. She falls into this category and they gave her a loan medication, without HAMP, putting her 30yr loan (which she only had 20yrs left to pay on it) to a 40 year loan at 6.5%. Bank of America has lied, threatened and manipulated their way and I am happy that those ex employees are coming forward have a conscious, ethics, moral and values - and I hope people like my mom can get some relief in this whole debacle. I feel that BOA should be sued and pay all those who they have done wrong - and get slapped with a gigantic fine for POOR business practices. BANKS SHOULD OF NEVER EVER BEEN BAILED OUT!!!

  • Report this Comment On June 23, 2013, at 1:52 AM, bobwhite9443 wrote:

    Hey, why are only homeowners entitled to loan mods. Renters were also affected by the employment melt down, but nobody gives a damn about their ability to handle their rent when losing a job or getting hours cut back.

    It's all political I guess

  • Report this Comment On June 23, 2013, at 2:19 AM, 110254545yy wrote:

    Do you need EVIDENCE?

    Three Months after they do not give you feedback about your application, you call them, they tell you it's too old, and you need to send in brand new application.

    THREE TIMES they were sent complete applications on a $170,000 balance on mortgage, with combined family income of over $190,000 annually and good credit, BAC was still filling for foreclosure, while ignoring three applications sent to them.

    I NEVER wanted to deal with a Bank when it came to Mortgage, but Countrywide fell into BAC's ugly hands, and so did my mortgage. Countrywide was redoing my mortgage the week BAC took it over. BAC did not even assign loans to individuals you could call and get answers, just like Countrywide did.The rest of the story is UGLY.

    It is SAD that the land of opportunity and American Dream has no Testicles to punish Thieves dressed up as capitalists, even after their treachery is evident, company pays fine, and the leader NEVER gets severely punished,

    NOBODY can explain to me why Bank of America's entire upper management and the CEO are not in jail today, and most likely will never be, even after the evidence of their crime is here.

  • Report this Comment On June 23, 2013, at 3:16 AM, DamianPalmares wrote:

    You were well over-qualified Rex....seriously on a $190,000 household income versus a $170,000 balance, that's why you were turned down. You shouldn't have even applied to be honest with you.

  • Report this Comment On June 23, 2013, at 3:31 AM, brunomuscus wrote:

    I am one of B of A's victims. In 2007 I was looking to buy a home in NV where I was working. I had looked at some model homes and found one I liked, it turned out that the builders used B of A for their buyers loans. After discussing the loan with B of A's loan officer, I felt I could not afford the loan and told her that I decided not to take the loan, but she would NOT take NO for an answer and made every reassurance and promise she could possibly make convincing me to go through with the loan including promising me that I would be able to refinance when the payments were too much for me to make after my "reserve cash" ran out in about a year and a half.

    6 months after escrow closed, the market plunged, and when the time came that I was having a hard making my payments, B of A refused to help me, they at first told me that their were government programs (Obama's plans). But the very next thing they told me in that same conversation was that I "should let my home foreclose or put it up for a short sale".

    I was told by an attorney's loan modification specialist and by a loan forensic auditor that what B of A did to me was called a "classic preditor loan" and that was very illegal. But because I didn't have the funds to pay for their fees, I couldn't persue legal action.

    Because of what B of A did to me, I lost my home to a short sale and ended up having to relocate back to CA, because of this, I also had to quit my job of 15 years. Finding another job has been difficult, I still don't have one and 6 months ago I started having some medical problems that has put job search temporarily on hold.

    Yes, as someone mentioned in an earlier comment, if B of A were actually an individual person, they'd be in jail and possibly fined as well. But because they are a huge coorperation, they get away with breaking the law and destroying peoples lives! So not right!!

  • Report this Comment On June 23, 2013, at 4:46 AM, DamianPalmares wrote:

    I'm sorry Bruno but see this is the part of this whole mess that I don't understand. Okay, so you may have been coerced into taking a loan that may have not been your best alternative but you decided to hedge against it, hoping that you may make 10% or 15% in value over the course of the next year. Instead, the bottom dropped out. You may also have just thought well...I want this house as my own and I don't care about the value, I just want to own the home. You say you had to quit your job because of this? Why? Why did you not just short sale your house, rent a house or an apartment and keep your job? Wait till you know what you're doing, then buy another house 5 years down the road? Why did you have to quit your job because you couldn't make your payments on your house?

  • Report this Comment On June 23, 2013, at 4:55 AM, DamianPalmares wrote:

    I'm really not trying be harsh or come off as a gerk, but because your payments were too high is not a reason to quit your job. And honestly, owning your home is still the best policy but you have to buy within your means and you need to understand what your means are. It's not the banks responsibility to tell you what you can and can't afford and you should be able to distinguish between the two. Just because you could afford it on paper and were hedging against a considerable increase in value versus the payments you were making right away, shouldn't cause you to quit your job. Stay with your job, shortsale the house, move in an apartment, learn from your mistake and try again.

    I think you lost your job and you weren't able to make your payments on the house and they foreclosed. I'm sorry you lost your job but please don't try to say it was the bank's fault you lost your job because they were foreclosing on your home.

  • Report this Comment On June 23, 2013, at 8:03 AM, lm1b2 wrote:

    These Financial Institutions,all of them,committed the biggest Fraud on the American people in our history taking us into a depression.They sold mortgages to unqualified buyers, bundled them and turned around and sold these worthless mortgages to various unsuspecting investment institutions knowing they would fail.Our government did nothing to punish these thieves,in fact they were rewarded with so called stimulus money to cover their losses,there is nothing to stop this theft from happening again,they gave them a license to steal! Bank of america is just one of the many thieves doing business in our country.

  • Report this Comment On June 23, 2013, at 8:13 AM, lcr1946 wrote:

    B of A and the other major banks are falling all over themselves making money by screwing their customers. There is no reason these behemoths should even exist. I always wonder if Geithner understands you can close banks. We've been screwed, blatantly and need to get rid of the big banks. They are a drag on the economy and need to broken up to make them more efficient and responsive. They all failed in 2008 and 2009 and should have been closed and placed in receivership.

  • Report this Comment On June 23, 2013, at 9:02 AM, velvetluv64 wrote:

    Banks are the worst company to deal with and then they ask why people don't bank any more.

    I give advice to all keep going to Internal General and the News Media and till they start a new investigation.you have to fight power with power till something is done.start a pension for banks to be investigated on keeping up with the Obama law. when you fight government and banks laws and rules you open up a new investigation how things are run.Internal General is your help.They do the investigating on a crime by big company then FBI be call in to investigate.Start your fight .There. more complains more interesting it get to them to start looking things over and with people who worked for the bank know then that a good start. for this site to hand over what people are complaining about.They should also investigate why it a pick on who get loans for homes and who don't get loans and why.? show the how many In a period of time are minority( people of low income) and how many are of other race that get homes.When there was minority loans setup to help people with loan .So question ask where is this loan money grants banks have???????

  • Report this Comment On June 23, 2013, at 10:05 AM, BigGrandma2 wrote:

    Time to examine CitiMortgage's practices. I applied for HAMP when I first read about it. Called Citi and was told I qualified over the phone. Make 3 on time payments, $266 lower than my original payment, and I was accepted into HAMP. Called each month only to be told they were working on it. At the end of the 9th month I received a letter of intent to foreclose. $2624, the difference between what they told me to pay and my original payment. This was a robo signed letter. I contacted everyone I could think of, including my Congressman who contacted the Comptroller of the Currency. Told to apply for the Independent Foreclosure Review, which I did. End of story, I received $300 from the Independent Foreclosure Review, yet I had to pay $2624 to stay out of foreclosure simply because I did what Citi told me to do. So, it's just not BOA!!!

  • Report this Comment On June 23, 2013, at 1:02 PM, phatandfoolish wrote:

    and just when will these criminals being going to jail?

  • Report this Comment On June 23, 2013, at 4:35 PM, Bahamafun wrote:

    Any one had there bank account closed for no explanation, after being a customer for over 30 years?

    Well that's what happened to me, I have never been delinquent in any bills, never gone under my limit, just simple, management has decided to close your accounts.

    Terrible!

    Shame on you BOA

  • Report this Comment On June 23, 2013, at 6:02 PM, Rusty56 wrote:

    What a bunch of whiners! It's obvious that none of you people should have ever bought a house to begin with. LOL!!

  • Report this Comment On June 23, 2013, at 6:22 PM, chepe39 wrote:

    The only thing i can say don't deal with a bank by your self. My nightmare took 1year & 6 months to finally be completed.

    My situation was a result of ignorance of my part but most of all from the B of A because of bad advice regarding the loan modification. I was making my monthly payments normally two weeks after the due date this something I should have dealt on my own but thinking that I was going to get help I was told by BofA in order to qualify for the program I had to be late at least 3 to 4 months to qualify so they adviced me not to make any payments my whole life changed after that everthing went down the road but I always kept fighting. So, please be smart in dealing with any bank.

  • Report this Comment On June 27, 2013, at 6:46 PM, SteveSandwich wrote:

    When I worked for Countrywide, I witnessed hundreds of files be approved without being underwritten, without appraisals, for their KB Homes Joint Venture.

    I did report it.

    Nothing was done.

  • Report this Comment On July 04, 2013, at 9:56 PM, jjones1234 wrote:

    I worked in the refinance department. One of the problems is that the training is totally inadequate. One computer software program is still a DOS based system. The two programs used are not linked in any way. The goals are extremely difficult to meet and there is a revolving door policy. People fired every week replaced by people who can do no better. It's crazy! Please save your vitriol for those that deserve it: Management!

  • Report this Comment On September 16, 2013, at 10:54 PM, cyrece wrote:

    From: Marilyn Brown 10505 Pine view Lane Frisco Texas 75035

    Disabled Veteran Eviction Bank of America Fannie Mae

    September 21, 2012

    The following is a synopsis of the events which have taken place from the beginning with my home loan and predatory lending practices.

    In 2003 I purchased my home from Country Wide. I pleated with them for 7 years to give me the promised interest rate. At the closing they changed my interest rate from 6.25% to 9.25% and put a clause in that I could not make any changes for 5 years.

    The mortgage on my home closed on June 13, 2003 with Countrywide. The balance due after the down payment was $164,350; the monthly payment was $1,337.21. In the same month a driver pulled out in front of me, and my vehicle was totaled.

    Though I was injured, I did not file suit against the person who caused the accident but did suffer from the injuries into 2004. I was able to keep my house payments paid until the fall of 2004. I did become 60 days late and requested a rework of my loan. It took several months to complete the process.

    During the time of modification they ask you to not make any payments. After the change I learned that my taxes and insurance were not added to the monthly payment as had been agreed, and this created a large tax bill to pay. Then, after the understanding I had with them about the procedures they required be followed during a modification of a loan, Countrywide still had their attorneys send a foreclosure letter to me. I promptly called the attorney firm and informed them that I was in the workout stage. They stated that they had not been notified of this information.

    When the rework was completed, they increased my payment to $2,015.25 with a high interest rate. Payments were and have been made by Western Union with dates confirming they were paid on time. They promised me a rate of 6.25% after five years which they did not honor, and I confronted them about this to change it. After a year they finally reduced my payment to $1,847.21, but the interest was still at 9.25%. Then, in 2008 I spoke to an Annette Carron in the work out department and discussed again to have my interest rate reduced since a five year hold was over.

    With CW your statements reflect a constant late charge in fact many payments are credited and backed out for seven or ten days which then posts a late charge to your monthly statement.

    In 2006 my husband at age 47 was diagnosed with complete kidney failure, and now he is on a kidney dialysis machine three to four days a week. I administer his treatment at home.

    When I learned about the save a home plan that President Obama was proposing, I contacted them explaining the health crisis in our family.

    I thought that I might be able to make up for all of the mistakes over charges that I have paid in the past. My package arrived and forbearance paper work arrived after the 19th of July.

    Page 2 B of A/FM

    I signed and returned it and paid the first payment from my Citibank account, check number 3001 in the amount of $853.38. The second payment was also paid from the Citibank account, check number 3013, which cleared my account on 9/11/2009. Third, fourth and fifth payments were sent at one time as a cashier check (330145700). I sent three payments together as my due to an error by one of my brokerage companies I did not receive the total commissions as the last Payment made was cashier check number 330154560.

    In the six months of this forbearance period I spoke to customer service each time to confirm that the payments were received. Each time they told me their records showed a foreclosure but to not worry about that, and as long as all of the payments were made in the six months I would be all right. Now I know they either did not know what they were talking about or were just plain lying to me. I have all phone calls documented with the dates and names of the persons to whom I spoke.

    I moved my insurance business to my home so I could give him his treatment

    and work from there. In 2009 I applied for the Make Home affordable program (through Bank of America) because of our health crisis and to lower the payment to what it should have been in the beginning.

    Victoria at CW/ BA 8/19/09 checking on first payment on Forbearance

    10/02/09 Spoke with La Tresa CW / BA

    11/15/09 Krystal Ft .Worth Office

    12/02/09 spoke with Gil Gomez sending the three payments’ he stated that even if they were late it would be okay as long as all of the payments were paid.

    12/10/09 spoke with Shreka B of A Payment received for Oct, Nov, and Dec 2009

    1/04/10 Linda Craquitte Buffalo NY / 1-08-10 confirming that last payment was received. She stated that now B of A would research the best plan for my situation.

    I said to I wanted to be assured that my payment was received and credited and to sure that my home was safe. “We do not want your home “this program is for

    Saving your home.) Noted: each payment sent included a cover letter.

    In January of 2010 I sent my last forbearance payment and I spoke with Linda Craquitte in the Buffalo New York BofA office on the 5th of January. I called each and every month to confirm that they had received my payment. She stated that they did not want my home and that at this point the bank would work on a payment that would work for me. On the 11th of January I had just put my husband on the dialysis machine and found an Eviction Notice on my front door. No one can imagine the fear that I felt.

    I called the real estate agent that was listed on the notice. She said that Fannie Mae had purchased my home, and it was foreclosed on January 5th 2010.

    I then called FM and spoke to a gentleman and said that B of A told them to foreclose on my home.

    I called the collectors for mortgage companies Barrett, Frapper Turner & Engel and was told that Ryan Bourgeois was the attorney to send my letter to only to find out later that the case was handed over to another attorney had the case .

    Page 3

    B of A FM

    I contacted them because of my experience with the rework in 2004 they sent many foreclose letters and when I called and informed them that was in a workout status they said no one at CW had told them so I thought perhaps it was an error .

    I contacted an attorney. He took my $2,900 check and assured us that we would not lose our home. In 7 months the only contact from his office was from his assistant, asking for more money or he would dismiss my case. I paid more money, and after I had paid him $5,400 he quit. He had filed a lawsuit as a result of the foreclosure, and later I learned that he did not even add Fannie Mae to the law suit.

    I did everything I was asked to do and still they took my home.

    Several attorney’s have told me that it is common knowledge that the Make Home Affordable program is just to get some funds from the home owner before they take it. It would be very interesting to know how many reworks are done from this program.

    I have learned since that although 650,000 applicants applied for Make Home Affordable, 350 were actually honored. These homes had a great deal of equity.

    My husband is 54 and I'm 64. We have worked our whole life like so many others that this has happened to. I would appreciate your writing my story because this whole thing is unethical, possibly illegal, and damaging to our health (especially my husband’s), as well as financially. In addition, the internet is full of several cases.

    My second attorney (Kristine my attorney at the time did not even know that we lost the summary judgment on April 06, 2011 and I learned yesterday that she may have filed too late for a new trial.

    Bank of America / Fannie Mae keep insisting that they have not received documents from my attorney and the courts.

    I believe they are saying that because in eviction court the attorney told the judge that I would never get another hearing. I did and since then they are stalling...

    I do not know when they will come to the door to remove us.

    March 29, 2012

    On March 06, 2012 was to be another attempt to evict me my attorney at the time said that she has requested a new court date to date I have not heard that there will be another date set. My question will it be with the same Judge (David Rippel)

    Collin County Court 4? In the meantime I was told that the eviction would take place on April 4th 2012. Now yesterday I heard that FM rite ran out and they would have to get the judge to sign another one. And it may be at the end of April.

    Page 3 B of A FM

    July 18, 2012

    The stress of and my health has suffered with my husband dying of kidney disease no other home to move to and all of this with out family or outside help.

    We are still in our home and I have another attorney, Fannie Mae has put me through another deposition which is basically a witch hunt I guess to make me out as a loser.

    Since this foreclosure my husband has had a cardiac arrest in September of 2011, was diagnosed with an ulcer and diverticulosis.

    Although I have enjoyed good health my whole the stress of lack of sleep and constant stomach and digestive problems and headaches.

    The fact that the pressure and stress of being thrown out of your home at anytime and to add an health crisis and all of the issues with the medical field I fear that I will break down emotional and physically.

    The most painful thing about all of this is the loss of hope, and feeling of worthlessness.

    I also have done a great deal of research and spoken to several mortgage professionals and through several internet stories that the attorney that signs foreclosure for attorney collectors is not an officer of the MERS Corporation.

    What amazing to me it that even though it has proven that many people have been foreclosed on unlawfully the banks insist that the homeowner is a fault.

    Because we lost the summary judgment we have filed an appeal for the eviction

    Which my attorney Ken Hater thinks should take us to April which would give us plenty of time to get another home or to make offer Fannie Mae for our home. In Kevin’s name as he is a Vet I would not be listed on the loan as my credit now is a mess.

    November 09, 2012

    We had an eviction notice on our door and were supposed to be out on Nov 14th my attorney was able to get a weeks extension however the constable told me that they would not be doing any evictions until Monday the 26th 2012.

    Noted: we were not late on payments and B of A took the funds.

    On November 21, 2012

    I spoke with Ms Jan Kite with Fannie Mae has stopped the eviction she stated for now.

    My understand is that she has told B of A to work with us.

    On Friday evening November 23, 012 WFAA Channel 8 here in Dallas Texas aired our story at 10:00p.m.

    My understanding from Ms. Kite was not what I thought it was instead Fannie Mae using Countrywide and Bank of Americas accounting decided that I was a flake.

    In fact I’m not certain that they even are aware or do not care that I did pay both the forbearance with B of A and the rework with C W 2004/2005.

    Page 4

    B of A FM

    After 9 years of payments on my home Fannie Mae has decided not to honor the mistakes that CW make but to lease my home to me.

    They have offered to lease my home for $1,600 a month plus the last month lease up front. The going rate for lease is $$1,200 to 1,450 monthly.

    I have until January 03, 2013 to pay $3,200 to them

    Believe me I ‘m grateful that we won’t be thrown in the street but this is not right.

    This is not my first problem with Bank of America they missed a deposit in 2007 when my husband was in the hospital with kidney failure and it cost me over $3,000 of over draft charges which are still on my credit report even though all have been paid.

    Perhaps that is the reason that they have singled me out.

    January 15, 2013

    Fannie Mae stated that they would lease our home back to us after learning about the news story only until January 01, 2014

    To date we have not received a lease agreement, how ever they have already had

    included us in the eviction groups after the moratorium placed before the holidays.

    I learned yesterday that was a mistake.

    May 29, 2013

    I received a letter yesterday stating that even though I have a lease agreement until January 2013 Fannie Mae can sell my home to another investor or home owner.

    April 12, 2013 my husband had a cardiac arrest and recovering from a coma, he has been in the hospital and rehab for 120 days. He has brain damage and cannot walk with help.

    He takes an ambulance three times a week to dialysis .

    My home will have to be modify my home to accommodate his needs.

    I need help to keep my home.

    Respectfully, Yours

    Marilyn C. Brown

    My Cell 214-223-9523 home office 972-704-3922

    securefuture2013@yahoo.com

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