Buy yourself something nice. Like some drinks and a couple apps.

Bank of America, led by Chief Executive Officer Brian T. Moynihan, faced more than 15,000 complaints in 2010 from its role in the government’s Home Affordable Modification Program. Urban Lending, one of the vendors brought in to handle grievances from lawmakers and regulators on behalf of borrowers, also operated a mail-processing center for HAMP documents. Instead of helping homeowners as promised under agreements with the U.S. Treasury Department, Bank of America stalled them with repeated requests for paperwork and incorrect income calculations, according to nine former Urban Lending employees. Some borrowers were sent into foreclosure or pricier loan modifications padded with fees resulting from the delays, according to the people, all but two of whom asked to remain anonymous because they signed confidentiality agreements…To soothe homeowners frustrated by delays, employees had a monthly allotment of $25 and $50 gift cards they could give customers, said three of the former workers.

Secret Inside BofA Office of CEO Stymied Needy Homeowners [Bloomberg]

Comments (4)

  1. Posted by guest | December 16, 2013 at 4:47 PM

    moynihan!

  2. Posted by Guest | December 16, 2013 at 6:52 PM

    I know a hot, successful, well groomed and well dressed, top 10 MBA, 28 YO gay boy banker that thinks Brian M is hot. Would do him in a flash.. Go figure.

  3. Posted by Fantastic Voyeur | December 16, 2013 at 8:13 PM

    Anyone who likes bright blue drinks and homestyle American cuisine in a family-friendly environment would probably agree with you I mean your friend right now.

  4. Posted by Guest | December 16, 2013 at 9:27 PM

    If you have ever worked at Bofamerrillwide you know that delays, excessive paperwork and redundancy are not a deliberate business strategy rather a constant state of being.