Tuesday, March 15, 2011

Bank of America accused by anonymous website of hiding data - CSMonitor.com

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Bank of America accused by anonymous website of hiding data - CSMonitor.com: "he files went on-line shortly after midnight Eastern Time, but seemed to have been knocked offline shortly thereafter, perhaps due to high volumes of traffic.

The emails appear to show an exchange between employees at Balboa Insurance, a firm acquired by Bank of America when they purchased Countrywide Financial in 2009. Balboa was sold by Bank of America about a month ago.

The exchange centers on requests by Balboa employees to have document tracking numbers purged from Balboa systems so that they no longer correlate to specific loans.

At one point in the emails, a Balboa employee states that the request to purge information is an 'unusual' one and will require 'upper management approval' before they can move forward.

No response from upper management seems to have been included.

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One of the leaked emails claims that Balboa was knowing hiding foreclosure information from federal auditors. This would appear to relate to federal investigations into accusations from consumer groups that Bank of America and other mortgage servicers have been foreclosing homes without the proper documentation.

The leaker claims that he was harassed and felt threatened after he left Balboa."

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