"Connecticut Attorney General George Jepsen ripped Bank of America’s foreclosure/mortgage modification practices in Connecticut in a letterto BofA CEO Brian Moynihan. Jepsen claimed that Connecticut residents “continue to experience significant difficulties due to Bank of America’s failure to devote adequate resources to loss mitigation”.
Bank of America had imposed a moratorium on Connecticut foreclosures as a result of the robo-signing scandal. This moratorium is about to be lifted, and Jepsen said that the bank has no “credible plan” to deal with the increase in foreclosure volume and mortgage modification requests. Further, Jepsen said that “Despite having had more than two years to ‘right-size’ your staff and establish effective procedures and systems, Bank of America has so far not prevented even the most common consumer complaints”...........LINK
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