BofA Sued AGAIN Over HAMP: Bank Accused Of Lying About Lost Paperwork

[davephx]

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BofA Sued AGAIN Over HAMP: Bank Accused Of Lying About Lost Paperwork

7/13/10 LaTimesDaily.com highlights

In a new lawsuit seeking class-action status, homeowners accuse Bank of America of systematically and deliberately failing to comply with the Obama administration’s mortgage modification program by lying to borrowers about missing paperwork and fudging their financial information, among other things.

“Rather than allocating adequate resources and working diligently to reduce the number of loans in danger of default by establishing permanent modifications, Bank of America has serially strung out, delayed, and otherwise hindered the modification processes that it contractually undertook to facilitate when it accepted billions of dollars from the United States,” says the complaint, filed in federal court in Arizona and first reported by Courthouse News.

The suit is similar to one filed in federal court in Seattle four months ago.

The Arizona suit, which seeks to force the bank to grant permanent modifications to several borrowers in Arizona, alleges that the bank unnecessarily requires borrowers to resubmit financial information every time they call to ask about a pending modification. “Any change in financial information — even a small change — then causes BofA to restart the application process under the pretext of changed factual information,” according to the complaint.

The complaint also says customer service representatives are instructed to lie about receiving modification documents and that “at least one former employee recalls seeing homeowners’ financial records manipulated in Bank of America’s computer system to the homeowners’ detriment.”

“Former Bank of America employees attests [sic] to seeing records regarding hundreds of homeowners in Trial Plans but recalls none who had a trial plan properly converted to a permanent plan following three or even four successful payments,” the suit adds. “According to the experience of this former employee, the vast majority of homeowners who seek a HAMP modification with Bank of America do not ever receive a permanently modified loan but are instead delayed indefinitely.”

At the beginning of June, a bank executive acknowledged customer service gripes and said the bank would do better: “We continue to train and retrain to try to improve our process and we’ve done a lot of things to try to make sure we don’t lose documents anymore.”

[Evan Bedard]

Thanks so much Dave for sharing this article.

[goldie]

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BofA Sued AGAIN Over HAMP: Bank Accused Of Lying About Lost Paperwork

7/13/10 LaTimesDaily.com highlights

In a new lawsuit seeking class-action status, homeowners accuse Bank of America of systematically and deliberately failing to comply with the Obama administration’s mortgage modification program by lying to borrowers about missing paperwork and fudging their financial information, among other things.

“Rather than allocating adequate resources and working diligently to reduce the number of loans in danger of default by establishing permanent modifications, Bank of America has serially strung out, delayed, and otherwise hindered the modification processes that it contractually undertook to facilitate when it accepted billions of dollars from the United States,” says the complaint, filed in federal court in Arizona and first reported by Courthouse News.

The suit is similar to one filed in federal court in Seattle four months ago.

The Arizona suit, which seeks to force the bank to grant permanent modifications to several borrowers in Arizona, alleges that the bank unnecessarily requires borrowers to resubmit financial information every time they call to ask about a pending modification. “Any change in financial information — even a small change — then causes BofA to restart the application process under the pretext of changed factual information,” according to the complaint.

The complaint also says customer service representatives are instructed to lie about receiving modification documents and that “at least one former employee recalls seeing homeowners’ financial records manipulated in Bank of America’s computer system to the homeowners’ detriment.”

“Former Bank of America employees attests [sic] to seeing records regarding hundreds of homeowners in Trial Plans but recalls none who had a trial plan properly converted to a permanent plan following three or even four successful payments,” the suit adds. “According to the experience of this former employee, the vast majority of homeowners who seek a HAMP modification with Bank of America do not ever receive a permanently modified loan but are instead delayed indefinitely.”

At the beginning of June, a bank executive acknowledged customer service gripes and said the bank would do better: “We continue to train and retrain to try to improve our process and we’ve done a lot of things to try to make sure we don’t lose documents anymore.”

I'm glad to hear former employee whistle-blowers are coming forward and telling their stories. I hope the investors begin to more frequently sue the "too big to fails" for failing to act in the investors best interests. It isn't only the homeowners the big banksters are screwing with.

[flippinwacko]

G, what a surprise! In the beginning BofA didn't even have a financial work out sheet to fill in your information! "They required you to
REGURGITATE all of your financial information over the phone to them!" Hmmm, wonder why?

[goldie]

G, what a surprise! In the beginning BofA didn't even have a financial work out sheet to fill in your information! "They required you to
REGURGITATE all of your financial information over the phone to them!" Hmmm, wonder why?

Yes, I remember doing that with CW. At first they told me I made too little. Then another rep told me I made too much. Then another rep told me I was just right (like Goldie Lock's porridge).

[flippinwacko]

Yes, I remember doing that with CW. At first they told me I made too little. Then another rep told me I made too much. Then another rep told me I was just right (like Goldie Lock's porridge).

What is interesting to me, is that they still put as little as possible in writing! Obviously to protect their own interests;

for example;

Even with the adoption of section 2923.5;

Banks are still keeping inadequate online links with mis-information!

[blueskywcc]

I live in North Carolina. After 7 months of loan modification process with BoaA I received a letter saying I am not eligible for the modification because I didn't send required documents and/or I have incomplete document. I talked to several representatives and they can't find out what are the missing/incomplete document. Luckly, the last representatives was helpful to appeal the decision of the case. She advised to call back after 10 days. I don't know what's going to happen. The rep said that BofA hired a third party company for receving and scanning documents. I am guessing this third party company could cause the problem of not delivering documents on time.

What would you guys recommend if the second decision is same as the first one? What should I prepare? Should I look for help from HOPE Hotline? Is there class action sue against BofA regarding this kind of problem?

Thanks.

[goldie]

I live in North Carolina. After 7 months of loan modification process with BoaA I received a letter saying I am not eligible for the modification because I didn't send required documents and/or I have incomplete document. I talked to several representatives and they can't find out what are the missing/incomplete document. Luckly, the last representatives was helpful to appeal the decision of the case. She advised to call back after 10 days. I don't know what's going to happen. The rep said that BofA hired a third party company for receving and scanning documents. I am guessing this third party company could cause the problem of not delivering documents on time.

What would you guys recommend if the second decision is same as the first one? What should I prepare? Should I look for help from HOPE Hotline? Is there class action sue against BofA regarding this kind of problem?

Thanks.

I would file a complaint with the Office of the Controller of Currency. Google it - there is a link called "help with my bank" and they have an online submission complaint form. I truly think complaining there does some good - it gets your case escalated to the office of the pres at the bank and they don't like getting complaints from OCC & try to resolve them. There are several class actions against B of A. One here in CA. I signed up, but then opted out because I have my own attorney for other matters. You might try complaining to FDIC also. Good luck!

[timmywit]

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BofA Sued AGAIN Over HAMP: Bank Accused Of Lying About Lost Paperwork

7/13/10 LaTimesDaily.com highlights

In a new lawsuit seeking class-action status, homeowners accuse Bank of America of systematically and deliberately failing to comply with the Obama administration’s mortgage modification program by lying to borrowers about missing paperwork and fudging their financial information, among other things.

“Rather than allocating adequate resources and working diligently to reduce the number of loans in danger of default by establishing permanent modifications, Bank of America has serially strung out, delayed, and otherwise hindered the modification processes that it contractually undertook to facilitate when it accepted billions of dollars from the United States,” says the complaint, filed in federal court in Arizona and first reported by Courthouse News.

The suit is similar to one filed in federal court in Seattle four months ago.

The Arizona suit, which seeks to force the bank to grant permanent modifications to several borrowers in Arizona, alleges that the bank unnecessarily requires borrowers to resubmit financial information every time they call to ask about a pending modification. “Any change in financial information — even a small change — then causes BofA to restart the application process under the pretext of changed factual information,” according to the complaint.

The complaint also says customer service representatives are instructed to lie about receiving modification documents and that “at least one former employee recalls seeing homeowners’ financial records manipulated in Bank of America’s computer system to the homeowners’ detriment.”

“Former Bank of America employees attests [sic] to seeing records regarding hundreds of homeowners in Trial Plans but recalls none who had a trial plan properly converted to a permanent plan following three or even four successful payments,” the suit adds. “According to the experience of this former employee, the vast majority of homeowners who seek a HAMP modification with Bank of America do not ever receive a permanently modified loan but are instead delayed indefinitely.”

At the beginning of June, a bank executive acknowledged customer service gripes and said the bank would do better: “We continue to train and retrain to try to improve our process and we’ve done a lot of things to try to make sure we don’t lose documents anymore.”

I could see this case I had to fax in over 100 pages in a giving time, plus with the wrong financials the 5 times I had a finanical interview with them it was always with some rep over seas with very poor english, I have caught them countless times with the wrong info.

[Lillian]

I just went through the same thing, they declined the modification due to the lack of documentation. I told the rep exactly what documentation the previous rep ( which I gave the name and ID number of the rep) told me to send in. It did not matter. Now they are reviewing me for the A G Modification. So let see. I have been going through this since November 2009 . I am ready to just give up, it's actually taking a toll on my life.

[goldie]

I just went through the same thing, they declined the modification due to the lack of documentation. I told the rep exactly what documentation the previous rep ( which I gave the name and ID number of the rep) told me to send in. It did not matter. Now they are reviewing me for the A G Modification. So let see. I have been going through this since November 2009 . I am ready to just give up, it's actually taking a toll on my life.

Just keep plugging away at it. I was dealing with mine since 08/09 and finally got perm mod in 06/10. Have you contacted OOP? Have you complained to federal agencies, especially the OCC?

[Lillian]

Just keep plugging away at it. I was dealing with mine since 08/09 and finally got perm mod in 06/10. Have you contacted OOP? Have you complained to federal agencies, especially the OCC?

thanks Goldie, I am not sure what OOP is? and I have not complained to the federal agencies... not sure who to contact. Any assistance would be greatly appreciated.

[goldie]

thanks Goldie, I am not sure what OOP is? and I have not complained to the federal agencies... not sure who to contact. Any assistance would be greatly appreciated.

Its the office of the president. Which servicer do you have? I have B of A, so I contacted Barbara DeSoer's office and got my case escalated. When they dropped the ball (as they will) again, I then contacted the office above Barbie's...in North Carolina. I also complained to MHA Compliance, FDIC, OCC (that one I think is THE MOST important one to complain to). Google Office of Controller of Currency and they have an online submission form - "help with my bank" is the link you are looking for. It took 3 times complaining to them to finally get a response from the executive offices.

[Lillian]

Its the office of the president. Which servicer do you have? I have B of A, so I contacted Barbara DeSoer's office and got my case escalated. When they dropped the ball (as they will) again, I then contacted the office above Barbie's...in North Carolina. I also complained to MHA Compliance, FDIC, OCC (that one I think is THE MOST important one to complain to). Google Office of Controller of Currency and they have an online submission form - "help with my bank" is the link you are looking for. It took 3 times complaining to them to finally get a response from the executive offices.

Thanks so much for your response. This is a great website, very informative.

[Eileen C]

I am having this problem with Wachovia. Not only have they lost the documents faxed in to them twice already, but the person I have been forced to deal with has had difficulty comprehending that he cannot call me 15 minutes before I need to leave for work even though he has been told repeatedly. Claimed he thought it was for only that day I was working as if I lead a life of leisure. When I asked the manager for a different employee to handle my paperwork the manager refused to reassign my paperwork to another employee. I want to sue Wachovia now and need to get an attorney against them. The manager was even trying to practice psychiatry without a license telling me to just calm down and when I asked him if he was a doctor he lied and claimed he was. Then admitted he had no license. These people need taken down. Is there a current class action suit against Wachovia? Or do I need to get one going?

[reggie213]

I have been going through that exact problem with boa for over 2 years now. I will never give up. I have written to everyone possible, my congressman, senator, FDIC , OCC, the news. It always ends up the same. They took my modification $ for 14 months & now say it was turned down. Hamp is looking into it. I have received two letters from the office of the ceo of boa stating that they werre working on my modification, not to worry. These were sent to me because of the complaint to my reps. They send you a letter, give you a call and tell you that you can call them anytime & they will keep you informed. Then the next day they will no longer call you back. Just like they get all your information, put you with a new negotiator & then your case is passed on to someone else & your paperwork is no longer valid. I think that everyone should get together in groups of the state you are from & get an attorney to represent each group & sue the ba#%$&^d's!!! Anyone interested in Florida? I am not joking....

P.S. Don't waste time with the FDIC...this was a letter I got from them yesterday:

Thank you for contacting the Federal Deposit Insurance Corporation
(FDIC) Consumer Response Center. The FDIC supervises insured, state-chartered banks that are not members of the Federal Reserve System. The referenced bank is a national bank supervised by the Office of the Comptroller of the Currency (OCC).
For your convenience, we are forwarding your correspondence to the OCC at the address noted below. Any future concerns should be directed to that agency.
The mission of the FDIC is to ensure the stability of, and public confidence in, the nation's banking system. The Division of Depositor and Consumer Protection (DCP) is responsible for enforcing federal consumer protection laws and regulations at various state-chartered banks.
The Consumer Response Center is a part of DCP.

I would file a complaint with the Office of the Controller of Currency. Google it - there is a link called "help with my bank" and they have an online submission complaint form. I truly think complaining there does some good - it gets your case escalated to the office of the pres at the bank and they don't like getting complaints from OCC & try to resolve them. There are several class actions against B of A. One here in CA. I signed up, but then opted out because I have my own attorney for other matters. You might try complaining to FDIC also. Good luck!