BofA Accused of Rolling USA for $900 Million

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BofA Accused of Rolling USA for $900 Million

BofA Accused of Rolling USA for $900 Million

Courthouse News-

Bank of America falsely certified that its home modification loans complied with federal laws in order to reap more than $907 million in government incentive payments, a man claims in a qui tam lawsuit in Federal Court.

Michael J. Fisher, of Southlake, Texas, says in his False Claims Act lawsuit that he worked for four years – 2008 through 2012 – assisting attorneys in securing mortgage loan modification for their homeowner clients.

The complaint was filed under seal in March in Manhattan Federal Court and unsealed this month.

Fisher claims to have reviewed hundreds of loan modification contracts from Bank of America and other lenders. He says he noticed a pattern of violations of the Truth in Lending Act.

[COURTHOUSE NEWS]

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