According to a story by CNBC Bank of America is in court fighting over a purge of nearly 2 billion bank records
If you have any information related to fraud on your Bank of America home mortgage email story tips to: INVESTIGATIONS@CNBC.COM
To read the complete story got to https://www.cnbc.com/2018/10/11/bank-of-america-fights-court-battle-over-purge-of-nearly-2-billion-bank-records.html
The court battle centers on Bank of America deleting about 1.88 billion records from its system. In the court filing by Bank of America, they insist the records were copied then returned to the bank and still exist in Bank of America’s system.
However, Miami Foreclosure Defense attorney Bruce Jacobs says that Bank of America got rid of loan records that may contain evidence of fraud related to robo-signing. According to Wikipedia “Robo-signing is a term used by consumer advocates to describe the robotic process of the mass production of false and forged execution of mortgage assignments, satisfactions, affidavits, and other legal documents related to mortgage foreclosures and legal matters being created by persons without knowledge of the facts being attested to. It also includes accusations of notary fraud wherein the notaries pre- and/or post-notarize the affidavits and signatures of so-called robo-signers.”
So, if Bank of America altered Billions, Millions or even just thousands of records, many people in foreclosure may find this as a defense. However, many courts now will only look at who currently holds the note and mortgage when proceeding with a foreclosure.
Bank of America was one of the US’s five largest banks and loan servicers that were part of $25 billion agreement in 2012 with the Justice Department and 49 state attorneys general due to what the Justice Department called “mortgage loan servicing and foreclosure abuses.”
Jacobs claims Bank of America violated the RICO Act (Racketeering Influence Corrupt Organization Act). — by Bank of America and Bank of New York Mellon.