Bank of America rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure.
Former Bank of America employees gave sworn statements that the bank lied to homeowners, denied loan modifications for bogus reasons and rewarded employees for sending homeowners to foreclosure.
Oh, that d@mn "Get out of jail free" card... Reuters: Bank of America NA prevented homeowners from receiving mortgage-loan modifications under a federal program in order to avoid millions of dollars in losses while benefitting from
Housing prices have dropped to their lowest level in almost a decade. And while the rate of homes falling into foreclosure has slowed, the reason is delays in the paperwork, not a housing recovery, says RealtyTrac. There were 219,258 foreclosure
The fraudulent foreclosure mess is a nightmare for Americans and it's going to cause another major meltdown because of the corruption that is rooted in the actual foreclosure process. Ellinorianne has a great post up at DKOS called: Foreclosure
A zombie argument is going around about why Obama hasn't accomplished liberal and progressive ends to the extent many would have liked him to: Obama can't do anything because he needs 60 votes in Congress and he doesn't have them because
TARP Watchdog Elizabeth Warren: Foreclosure Program 'Too Small, Too Slow', Warns Banks Are Still Dangerously Exposed
Sherrod Brown would like to see Elizabeth Warren appointed as the head of the new consumer financial protection agency, and so would I. I think she wo