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Bank of America Corp. (BAC), the second-biggest U.S. lender, rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents.
Mortgage workers falsified records and were told to delay U.S. loan-assistance applications by requesting paperwork that the Charlotte, North Carolina-based bank had already received, according to statements from ex-employees filed last week in federal court in Boston. The lender improperly disqualified applicants to the Home Affordable Modification Program, or HAMP, according to a May 23 statement from Simone Gordon, a loss-mitigation specialist who left the company in 2012.
story from June 2013
reply to post by Cynic
More importantly, how many hapless home owners committed suicide or died of stress related disease or suffered severe mental health issues? Correct me (a lowly Canadian) if I am wrong, but does your justice system have no time limit for negligent homicide or manslaughter? These guys could be charged with some such offense and then tie them up in court and wipe them out financially.....
BOA has started changing their name to ??? Federal I can't remember . there's on down the road and the sign changed about a year ago and I read something about it in the paper. First Federated maybe. Can't find anything online but both offices here have changed