Whistleblowers say BofA lied to homeowners

The sworn statements of six former Bank of America (BofA) employees and one contractor were added to a civil lawsuit against the bank, reports salon.com.

They claim the bank fraudulently used the government’s Home Affordability Modification Program (HAMP), lied to struggling borrowers, and that employees were given incentives to push homeowners into foreclosure.

BoA denies the employees’ statements, saying they’re “rife with factual inaccuracies.”

Read more.

Also read:

U.S. banks to face national mortgage settlement lawsuit

BofA loses court claim over bond insurance

BofA profit soars, revenue lowers