U.S. Rep. Maxine Waters is calling for an investigation of Bank of America after former bank employees said in court documents that they were told to mislead homeowners seeking loan modifications and create delays for them.
In letters to government officials Tuesday, Waters, a California Democrat, said her request was prompted by media coverage of the former employees' allegations. The workers claim the Charlotte-based bank improperly disqualified homeowners requesting assistance through the federal Home Affordable Modification Program.
The allegations were filed in federal court in Boston as part of a lawsuit brought against the bank by homeowners who didn't receive permanent modifications under HAMP.
"It has come to my attention ... that employees at one of the nation's largest servicers are alleged to have 'falsified records and were told to delay U.S. loan-assistance applications by requesting paperwork that the (bank) had already received," wrote Waters, the top Democrat on the House Financial Services Committee. "It goes without saying that this is an outright abuse of consumers and government mortgage-assistance programs."
Bank of America, in a statement released in response to the allegations, said it has completed "more modifications for our customers in need of assistance than any other servicer under the Home Affordable Modification Program."
The bank also says the claims of the former workers are inaccurate.
Tuesday, June 18, 2013
Rep. Maxine Waters calls for Bank of America investigation
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13 comments:
If she's waiting on Boehnor to investigate it will be a long wait. He's on Moynihan's speed dial.
she's bitter cause her husband's bank got investigated/indicted...
maxine waters is THE stupidest female in CONGRESS !!!
This woman is Vilma Leake on LSD, and another reason Congress has a 10% approval rating. Obama's trying to catch them though.
Bill Clinton's Justice Department secured over 1,000 convictions against financial executives.
George W. Bush's Justice Department secured over 1,000 convictions against financial executives.
Barack Obama's Justice Department has not even secured a single indictment of a financial executive. Obama and Holder are banking industry puppets who are letting the banks destroy the country.
No, the stupidest female in Congress has to be Shelia Jackson Lee, who was invited to her home district's NASA mission control for the Mars explorer landing. Ater the probe landed, she asked the scientists i it was going to ride by the lag let by the astronauts.
"letting the banks destroy the country" = letting Charlotte destroy the country.
CHARLOTTE = HELL ON EARTH
Will you read all the comments from these Bank Of America whores
I bet their all CEO's of these corrupt organization
I do hope the findings leads all these freaks to jail!
Maxine Water is the next dumbest person in office. Can't say much more than that!
This should actually read that Maxine Waters axed for an investigation of Bank of America.
Biggest clown in office:
A senior member of the congressional committee handling the financial crisis is being investigated for steering federal bailout funds to a questionable bank because she and her board member husband had deep financial ties to it.
Months after the media exposed the shady deal involving prominent California Democrat Maxine Waters, the House Ethics Committee is finally investigating the veteran lawmaker’s controversial intervention on behalf of her husband’s failing Massachusetts bank. As a result, the financial institution (OneUnited) received $12 million in federal bailout funds.
I don't buy this "our former employees are lying" bit. Generally, people don't lie about such things, and would have no vested interest in doing so. What could they possibly gain? However, BofA would have plenty to gain by asking them to stall. I don't trust this bank, and I've been in the industry for almost 20 years. They just seem to always be hiding something or trying to screw someone.
Bank of America's evidently thinks they are above the laws that governs banks. Nothing flys to high to come down. I am one of the thousands that BoA put into foreclosure during modification. They would not let me make a payment during modification so I saved my payments and after nine months of repetitive documentation to different assigned agents within the they claimed I did not qualify when all the time I was told I did qualify. They only helped the people who really didn't need financial relief from high interest rates. I am still paying 7.25% interest. I have had this loan for 15 years. I am sure I have legitimate grounds for a lawsuit which will be coming to them soon.
Oh, by the way BoA, I keep excellent records and have every thing that was sent to me by you during the "nine months of documentation hell" that you put me through. And, I also have copies of all documents I sent you for nine months. I am sure by the time my lawyer and the judge has passed judgement on you, my home will be paid for and then some. I am your worst legal nightmare. So, put that in your bank.
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