'We were told to lie' - Bank of America employees open up about foreclosure practices

Employees of Bank of America say they were encouraged to lie to customers and were even rewarded for foreclosing on homes, staffers of the financial giant claim in new court documents.

Sworn statements from several Bank of America employees contain a number of damning allegations, the latest claims entered as evidence in a multi-state class action lawsuit that challenges the bank’s history with foreclosures.

According to testimonies obtained by journalists at ProPublica, supervisors at various Bank of America branches across the United States encouraged employees to regularly deny loan modification applications with no reason. At times, they were told to make up excuses to customers who risked losing their homes as a response.

In one of the sworn statements, an ex-bank staffer said he would be directed to deny upwards of 1,500 loan modification applications at a single time with no apparent reason.

“To justify the denials, employees produced fictitious reasons, for instance saying the homeowner had not sent in the required documents, when in actuality, they had,” William Wilson, Jr., a former underwriter for the bank, wrote in his statement.

[link to rt.com]