Bank of America Hindered Foreclosure Review


And from the ‘no sh*t’ catagory today:

Bank of America Corp unnecessarily burdened U.S. regulators who were reviewing the mortgage giant’s foreclosure practices, according to a court filing.

Federal regulators and state attorneys general have been investigating bank mortgage practices that came to light last year, including the use of “robo-signers” to sign hundreds of unread foreclosure documents a day.

The Department of Housing and Urban Development inspector general’s office conducted a review of the five largest mortgage servicers, including Bank of America, which is the biggest.

Departmental auditor William Nixon said BofA “significantly hindered” the review, according to a document filed in a lawsuit brought by the State of Arizona against the bank.

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