WHISTLEBLOWER: BANK OF AMERICA DEFRAUDED MORTGAGE PROGRAM

The Bank of America prevented homeowners from getting mortgage loan modifications under a federal program to save money according to a whistleblower complaint unsealed yesterday. The whistleblower, Gregory Mackler who worked along side Bank of America while at Urban Lending Solutions a company which the bank contracted to do some work. In the complaint he says the bank engaged in business practices which were designed to intentionally prevent scores of eligible homeowners from becoming elsigible for the mortgage modifications. The bank and its agents pretended to lose homeowner’s documents, pretended they failed credit payments during trial modifications and intentionally misled homeowners about their eligibility for the federal program. Under the False Claims Act a whistleblower is entitled to up to 30% of what the government recovers. The case was filed in the federal court in New York.