Thursday
Mar082012
Bank of America: Maximizing Profits Off the Backs of Struggling Homeowners
March 8, 2012 A complaint unsealed in court yesterday from a whistleblower alleges that Bank of America defrauded the federal Home Affordable Modification Program (HAMP), designed to help homeowners facing foreclosure, by preventing "scores of eligible homeowners" from receiving loan modifications in order to prevent losses while at the same time receiving benefits for being part of the HAMP program.
Reuters reports today:
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.
Read More:
http://www.commondreams.org/headline/2012/03/08-2