Every day, BOA defrauds hundreds of thousands of its customers along with innocent borrowers who have loans that are either originated or serviced through BOA or its predecessor, Countrywide Home Loans, Inc.
Despite having been fined several billion dollars by various state and federal agencies continuously over the last 4 years, BOA continues to defraud the public and abuse the court system against innocent victims that are unable to fight back.
Bank of America, through its predecessor, Countrywide Home Loans, Inc., originated 3.5 million loans between 2003 and 2007 that were neither funded nor owned by CHL or BOA. These loans were derived from credit lines established by the Federal Reserve to Countrywide, which were public funds.
Because the fraud committed by Bank of America is so extensive, complex, and sophisticated, it would be impossible to outline even a small percentage of the fraud that takes place on a daily basis in a single writing.