Instead of helping homeowners as promised under agreements with the U.S. Treasury Department, Bank of America stalled them with repeated requests for paperwork and incorrect income calculations, according to nine former Urban Lending employees. Some borrowers were sent into foreclosure or pricier loan modifications padded with fees resulting from the delays, according to the people, all but two of whom asked to remain anonymous because they signed confidentiality agreements. ...BofA absorbed one of the largest scumbags in the mortgage industry (Countrywide) and then put many of those same quasi-criminals to work to fuck up the home loan modification program.
Tens of thousands of HAMP modifications were improperly denied by Bank of America and Urban Lending since April 2009, according to a July complaint filed by homeowners against the two companies in federal court in Colorado.
“Everyone knew that we weren’t helping people,” said Erik Schnackenberg, a customer-service manager who left Urban Lending in 2011 and now runs a yoga studio in Longmont, Colorado. “They were giving us all the pressure and none of the power to change anything. It was this absurd, self-contained ecosystem of worthlessness.”
Forging signatures. Throwing away documents. Purging complaints. They were handling the HAMP program files the same way that they handled the original mortgage files. It has all been a massive fraud since day one.
"Why has it been left to the victims to seek justice on their own", you might ask.
Good question. The reason is simple, really: Those cases are hard. And the Department of Justice is apparently burdened with chickenshits who would rather go after ginned-up terroristic plots than do the hard to to bring down the criminals who looted our economy.
If you rob a bank, you're going to go away for at least ten years, possibly a hell of a lot longer.* But let the banks rob us, and not only to their managers and executives not go to jail, they get bailed out by the Treasury and they pay themselves whopping bonuses. "Justice for all" is sure turning out to be an unmitigated crock of shit.
When is this president and his Justice Department going to stop buddying up to those fuckers and do something?
I imagine that the response to that question would be: "Never and fuck you for asking."
______________________________________________
* 70 years for stealing Xmas lights in Texas.
2 comments:
SOunds like the damn VA... sigh
Only thing that'll piss that whore off is to cut off the money.
Post a Comment