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Anonymous Leaks Bank of America Emails on Foreclosures

By CIOinsight  |  Posted 03-15-2011 Print
A member of Anonymous posted e-mails from a former Bank of America employee who claims to know how the bank forced foreclosures and falsified documents.

Months after Wikileaks founder Julian Assange promised to post documents from a major financial institution, a member of Anonymous released e-mails allegedly related to Bank of AmericaÂ's foreclosure practices.

The e-mails were provided by a former Bank of America employee who claimed the bank withheld critical information from regulators and sensitive data was deleted. A twitter account called Anonymous@OperationLeakS announced the release of the e-mail messages on the site, bankofamericasucks.com, shortly after midnight Eastern time on March 14.

An anonymous representative, who had not read the messages but had been briefed on the contents, told Reuters the e-mails addressed "whether Bank of America has improperly foreclosed on homes."

The e-mails are allegedly exchanges between employees at Balboa Insurance, a unit Bank of America acquired as part of its Countrywide Financial acquisition in 2008. Balboa dealt with Â"lender-placed insurance,Â" or insurance policies taken out by lenders paid for by the mortgage holder. Bank of America is in the process of finalizing the $700 million sale of Balboa to Australian insurer QBE Insurance Group.

Some of the e-mails hint at an organized effort to tamper with loan numbers and audit trails, such as a conversation between two Balboa employees regarding an Â"unusualÂ" request to remove document tracking numbers from the system so that documents could no longer be correlated to specific loans, according to the BBC and New York Times, who examined the messages.

The approval was given to remove loan numbers from documents, the New York Times reported.


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