10:07 AM by Debbie Dragon

Anonymous, a hacker organization just released a batch of emails that they say were provided to them by a former employee from Bank Of America. The emails they say show that a division of Bank Of America hid information related to foreclosures. For Bank Of America, this is another punch in the stomach as they have been dealing with foreclosure issues for months.

These particular accusations are against Baboa Insurance which was acquired by the bank during the buyout of Countrywide back in 2008. Balboa Insurance worked with Countrywide and dealt with mortgages that needed to have forced place insurance coverage. The emails released goes into how loan papers were altered so that they could not be traced.

Bank of America responded and a representative of the bank said that the documents that were stolen were not related to foreclosures. "We are confident that his extravagant assertions are untrue," the spokesman said.

The emails were dated from November 2010 and were concerning correspondence between certain Balboa employees. Discussions related to certain documentation that needed to be corrected that originally was sent with errors. The particular documents in question were those related to loans that were issued by GMAC, which is a Bank Of America client.

The emails released showed on-going correspondence in deciding what parts of the loan documents needed to be altered:

"The following GMAC DTN's need to have the images removed from Tracksource/Rembrandt," an operations team manager at Balboa wrote. DTN refers to document tracking number, and Tracksource/Rembrandt is an insurance tracking system.

The response he receives: "I have spoken to my developer and she stated that we cannot remove the DTNs from Rembrandt, but she can remove the loan numbers, so the documents will not show as matched to those loans."

Anonymous purpose of publishing the emails, according to a site representative is to expose how the banks are wrongdoing their customers. They want to do what they can to make sure that banks are not able to cheat the average person. They say the emails point to the issue that Bank Of America could have improperly foreclosed on homes. With that said, the employer of Anonymous also said that he had not seen the documents but had been briefed on the information in them.

About Debbie Dragon
Debbie Dragon is a full time freelance writer and the co-owner of ReliableWriters.com.Posted inMortgagesPermalinkNo Comments » Leave a ReplyClick here to cancel reply.

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