Bank Of America "Significantly Hindered" Federal Review Of Loans

Lest you think it’s just consumers having a difficult time getting information and assistance from Bank of America, a newly uncovered report states that BofA stymied a federal review of loans insured by the Federal Housing Administration.

“Our review was significantly hindered by Bank of America’s reluctance to allow us to interview employees or provide data and information in a timely manner,” writes an assistant regional inspector general for the Dept. of Housing and Urban Development in a declaration obtained by Bloomberg news.

The assistant inspector general was referring to his experience dealing with BofA during his office’s investigation into whether or not Bank of America complied with applicable procedures when conducting foreclosures on FHA-insured loans.

Bloomberg reports that the declaration was submitted as an exhibit in the state of Arizona’s lawsuit against Bank of America.

BofA ‘Significantly Hindered’ Foreclosure Review, U.S. Says [Bloomberg]