In a recent New York Times article, Bank of America Papers Show Conflict and Trickery in Mortgages, published on August 21, 2014, details how Bank of America employees would “fix” or alter records in an attempt to “trick” a screening system for FHA insured mortgage loans.
When using this system, Bank of America sometimes changed an applicant’s financial information and resubmitted the loan many times to try for approval. In at least one case, a Bank of America underwriter tried to pass the F.H.A. screening more than 40 times, according to the documents. In other cases, “underwriters regularly changed the relevant data and resubmitted the loans more than 20 times,” the documents said.
Ridiculous. Of course, when I go into Court and argue that certain documents appear to be inconsistent or, dare I say, “false and forged,” I’ll get a Judge who rolls her eyes instead of looking at the bank’s attorney and demanding something so simple as proper authentication and validity of the proffered chain of title.