Tuesday, March 15, 2011

Operation LeakS accuses Bank of America of Mortgage Fraud

I hate to publicize info before it has really been vetted, but you'll be hearing about it elsewhere. So, best to refer our readers to a reasonable analysis of the recent Operation LeakS release of Bank of America e-mails related to the mortgage meltdown.

The exchange centers on requests by Balboa employees to have document tracking numbers purged from Balboa systems so that they no longer correlate to specific loans.

At one point in the emails, a Balboa employee states that the request to purge information is an 'unusual' one and will require 'upper management approval' before they can move forward...

One of the leaked emails claims that Balboa was knowing hiding foreclosure information from federal auditors.
If the accusation is true - that a Bank of America manager requested loan information be destroyed and hidden from auditors, then this is explosive. But it's just as likely we're only hearing one side of the story.

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