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Bank Of America's Senior Loan Collector Admits To Lying Because He Was Told To Lie

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http://www.jdsupra.com/legalnews/bank-of-americas-senior-loan-collector-30147/

Attached is an affidavit of a senior loan collector for BOA that was filed in United States District Court for the District of Massachusetts under case number MDL 2193.

Simone Gordan stated the following under oath:

"Using the Bank of America computer systems I saw that hundreds of customers had made their required trial payments, sent the documents requested of them, but had not received permanent modifications. I also saw records showing that Bank of America employees have told people that documents had not been received when, in fact, the computer system showed that Bank of America had received the documents. This was consistent with the instructions my colleagues and I were given. We were told to lie to customers and claim that Bank of America had not received documents it had requested, and that it had not received trial payments (when in fact it had). We were told that admitting that the bank received documents would "open a can of worms" since the bank was required to underwrite a loan modification within 30 days of receiving those documents and it did not have sufficient underwriting staff to complete the underwriting in that time.... Site leaders regularly told us that the more we delayed the HAMP modification process, the more fees Bank of America would collect. We were regularly drilled that it was our job to maximize fees for the bank by fostering and extending the lay of the ... modification process by any means we could --- this included lying to customers. For example, we were instructed by our supervisors at Bank of America to delay modifications by telling homeowners who called in at their documents were "under review," when, in fact, there had been no review or any other work done on the file."

" Employees who were caught admitting that Bank of America had received financial documents or that the borrower was actually entitled to a permanent loan modification where discipline and often terminated without warning."

Still at least we can all rest assured no senior banker will ever be jailed. Corporate theft approved by the government.

Doing your job correctly will get you the sack. Nice.

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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