Bank of America Warning! Can Bank of America Validate Your Mortgage Debt? Probably Not!

Bank of America WarningSteve Dibert, CEO of internationally-renowned mortgage fraud investigation firm MFI-Miami, announced today that MFI-Miami has discovered serious flaws in the way Bank of America validates debt owed by homeowners. As a result, MFI-Miami has issued a Bank of America Warning to homeowners. 

MFI-Miami CEO Steve Dibert:

Homeowners need to request their complete mortgage transaction histories from Bank of America and review them. If there is missing information or if something doesn’t look right, they need to contact a lawyer or a properly trained mortgage fraud expert immediately!

MFI-Miami has examined nearly 150 transaction histories from mortgage loans currently serviced by Bank of America since 2015. Nearly 125 of these contained serious accounting flaws in the transaction histories. These flaws would call into question the amount homeowners owe on their mortgages. Additionally, MFI-Miami’s team of Forensic CPAs have described BofA transaction histories as everything from a mess to a trainwreck.

These flaws also include 5-year and 10-year gaps in the transaction histories. They also include conflicting payoff figures on payoffs dated the same day. As well as transaction histories with fictitious and inflated payments made to local taxing authorities.

Steve Dibert also said:

There is a definite pattern of impropriety going on here. I find it odd that one of the largest mortgage servicers in the US can’t do the basic 5th-grade math required to calculate an accurate payoff on a mortgage. 

Bank of America Warning! Bank of America Faces Class Action Suit Over Loan Modification Scam

bank of america fraudA group of 11 homeowners sued Bank of America last year. Homeowners allege BofA misled borrowers trying to hang onto their homes. They also claim the bank pushed them into foreclosure while it enriched itself off a federal mortgage-modification program.

Homeowners also allege the bank abused homeowners seeking to reduce their mortgage payments through the Home Affordable Modification Program.

Among claims in the latest suit:

▪ Bank of America falsely told applicants they had to stop making regular monthly mortgage payments to be eligible for a HAMP modification. It was part of the bank’s scheme to prevent borrowers from receiving a modification so that it could acquire their homes through foreclosure.

▪ Bank of America employees made homeowners submit applications over and over in order to frustrate them, ensuring that their mortgage would be denied a modification. Applications were intentionally lost or destroyed to prevent borrowers from getting a modification. The bank’s employees also falsely told applicants that documents were not current or were missing, in order to delay modification requests and ultimately deny them.

▪ Bank of America profited from charging borrowers fees for unnecessary and unlawful property inspections. The bank did not tell borrowers the inspections were taking place or that they were being charged for them.

Also, check out these articles:

Bank of America Foreclosure Defense

Bank Of America Fined $2.2 Million For Racial Discrimination

BofA Sued For Involvement In $102 Million Ponzi Scheme



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