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March 9, 2012

Whistleblower: Bank of America Blocked Aid to Homeowners 
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A private contractor is accusing Bank of America of deliberately
blocking aid to struggling homeowners by preventing loan modifications
while still receiving government assistance under the the federal Home
Affordable Modification Program. The contractor, Gregory Mackler, says
he witnessed the practice while working with Bank of America executives
at Urban Lending Solutions, a company contracted by the bank to handle
some of its loan modification business. According to Mackler, Bank of
America officials regularly pretended to have lost homeowners'
documents, failed to credit payments during trial modifications and
intentionally misled homeowners about their eligibility for government
help. On Thursday, members of the group Code Pink were arrested at a
Bank of America branch in New York City while protesting the company's
foreclosure practices.



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