Posted in Financial, Foreclosure Defense

Now Can We See Some Bankers Go To Jail? | Crooks and Liars

Now Can We See Some Bankers Go To Jail?

A Bloomberg investigation has discovered a secret office created by Bank of America called “the Office of the CEO and President” set up to supposedly handle complaints homeowners trying to refinance in the government’s Home Affordable Modification Program. But when frustrated homeowners, and members of Congress and regulators, finally reached what they thought was the highest office of BoA — where something might just be done to help them — they were actually being shuffled off to a contractor site, Urban Lending, whose job appears to have been delaying the process until the homeowners could be forced into foreclosure.

Urban Lending was one of the vendors hired to clear a huge backlog of complaints, at least 15,000 of them, that piled up at Bank of America. Urban Lending was specifically “brought in to handle grievances from lawmakers and regulators on behalf of borrowers, also operated a mail-processing center for HAMP documents.”

via Now Can We See Some Bankers Go To Jail? | Crooks and Liars.

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