Bank of America Settles Fraud Claims for Record $16 Billion | DSNews

I don’t care to recall the number of times I successfully negotiated a higher than market price and excellent seller terms for a Tulsa home owner in foreclosure only to have the bumbling clerks in the back office of one of these enormous mortgage companies delay and stalwart the process until the buyer gave up and bought a different house. The home later completes foreclosure where the bank is awarded our taxpayers dollars for their “loss” and the property then sells for much less than the amount originally presented prior to foreclosure. It has been another disgusting example of the misuse of government bailout funds and the bureaucratic process of the disconnected mortgage system.

Government investigations can often be little more the witch hunts to exact political vindication but this example of settlement doesn’t seem to bother me so much after dealing with so many Tulsa, OK foreclosures that never had to be. Bank of America is, by far, the worst of the bureaucracies.

Bank of America Settles Fraud Claims for Record $16 Billion | DSNews.