More stomach churning admissions from the Bank of America camp… You just know these employees are telling the truth, and you also know that BoA will try to discredit each and every one of them, “they’re disgruntled,” “they’re liars,” etc. Takes one to know one, BoA.
Bank of America’s practice is to string homeowners along with no apparent intention of providing the permanent loan modifications it promises. The processes Bank of America uses, and the instructions it gives its employees, appear to be designed to avoid modifying mortgage loans.
My co-workers and I were instructed to tell homeowners that modification documents were not received on time or not received at all when, in fact, all documents were received on time. We were also instructed to tell homeowners that documents were sent on a particular date, when they had not been sent at all.
During my time at Bank of America, I saw well over a hundred cases in which a Bank of America “analyst” cancelled loan modifications and stated non payment as reason for the cancellation when it was apparent from the computer system that the homeowner had actually made all the required payments.
During my time at Bank of America, I saw records regarding hundreds of homeowners that Bank of America treated dishonestly. These homeowners were eligible for loan modifications under HAMP, sent back all of the required documents and made all their required payments under a trial plan. Bank of America nevertheless damaged their credit ratings by reporting them delinquent, tacked on additional charges to their loans, increased the amounts it considered as being owed, and often referred these homeowners to foreclosure.
During my time at Bank of America I saw records regarding hundreds of homeowners in Trial Plans but cannot recall any homeowners who had a trial plan properly converted to a permanent plan following three or four successful payments. Many of the records I saw showed homeowners who made more than six or seven timely payments under Trial Plans, but had not received a permanent modification and were treated as being in default.
(Decl. of Erika Brown, (Doc. 210-6)).