Earlier last year, Bank of America made headlines for one of its more notable foreclosure cases, wherein an employee of the firm “erroneously believed” Angela Iannelli’s house was vacant and dispatched a contractor to change the locks and “secure” the property. The fact that the home was neither vacant nor in default is not where BAC wins applause, however– any bank worth its salt has accidentally foreclosed on a few houses it wasn’t supposed to. What set this story apart was that in addition to being locked out of her house, Iannelli’s beloved parrot, with whom she had cohabitated for 11 years, was seized, a separation that caused her “so much emotional distress that she needed a prescription medication for anxiety.” Bank of America initially denied having taken the pet-friend, told Iannelli they were “tired” of hearing from her, and hung up on several times. Finally, someone copped to having the bird, and they made her drive 80 miles to retrieve it.

A worthy entry for the foreclosure excellence awards distributed by an independent panel each year to be sure. But was this simply a one-off deal? It’s something to be proud of, yes, but some wondered if Bank of America could make magic happen twice. Turns out the answer yes a resounding hell yes. Continue reading »