Calabasas, CA (PRWEB) June 21, 2011
Philip Kramer, lead attorney at the Law Offices of Kramer and Kaslow, released comments nowadays concerning current reports of a court filing against Bank of America Corp. ( Superior Court of the State of Arizona, State of Arizona v. Countrywide Monetary Corporation et al, CV2010-033580). According to court documents, Bank of America is accused of unnecessarily burdening U.S. regulators who had been reviewing the mortgage giant’s foreclosure practices.

A Huffington Post article information how the Arizona suit is based, in portion, on the findings of The Division of Housing and Urban Improvement Inspector General’s Office, which performed a assessment of the 5 biggest mortgage servicers, such as Bank of America, which is the most significant.

Departmental auditor William Nixon mentioned Bank of America “significantly hindered” the assessment, according to a document filed in a lawsuit brought by the State of Arizona against the bank.

“Bank of America, the biggest handler of house loans in the U.S., threw up roadblocks to the investigation, Nixon said, like stopping his group from performing a “walkthrough” of the bank’s documents unit.

The bank withheld key documents and information, prevented investigators from interviewing bank workers or asking particular inquiries, and was slow to offer info, according to a June 1 declaration by William W. Nixon, a fraud examiner and assistant regional inspector basic for audit for the U.S. Division of Housing and Urban Improvement inspector general’s office.

“When interviews were permitted, the presence or involvement of the bank’s attorneys restricted the effectiveness of these interviews,” Nixon stated in the filing.

According to court document, the bank also failed to completely comply with subpoenas issued by Nixon’s group. HUD’s internal watchdog issued two subpoenas requesting documents and details, and what was returned was incomplete, had conflicting info, and in some cases, the bank offered excerpts of documents rather than the full record.

Also alleged in the suit is that in one instance, Bank of America supplied only a third of what the watchdog requested. In another instance, Nixon’s group waited 3 days for the bank to fulfill a request for “basic information.” Though the document was requested on a Friday and provided to investigators the following Monday, what the bank provided “prompted many extra concerns that necessary answering,” Nixon stated in court documents.

The Huffington Post reports that due to Bank of America’s “reluctance,” Nixon resorted to asking the Justice Department to situation so-known as civil investigative demands final December to compel testimony, a “less efficient” implies of carrying out its investigation, Nixon said. His workplace can’t compel testimony on its own.

Philip A. Kramer is a senior companion of the law firm Kramer & Kaslow which has filed consolidated plaintiff litigation suits on behalf of hundreds of home owners against six major lenders, such as Bank of America Corp.

I dont know if this is the final nail in the coffin, Kramer states. If nothing else, it looks like it is what Winston Churchill after characterized as Now this is not the end. It is not even the starting of the end. But it is, possibly, the end of the beginning. My clientele have repeatedly alleged this behavior, and no 1 paid attention. We have been screaming from the mountain tops that this has been going on, and no one wanted to listen. Its a satisfied day when the government finally gets it.

According to the Huffington Post report, Bank of America spokesman Dan Frahm mentioned any suggestion that the bank had not fully cooperated was inaccurate. “We offered on-internet site and adhere to-up access to much more than 55,000 pages of material and we voluntarily coordinated interviews and assisted with arranging depositions with two dozen employees,” Frahm stated in an e mail on Monday.

Philip Kramer is really familiar with the practice of pretending to cooperate as practiced by the banks. They paper you to death with documents that are not relevant, although other a lot more pertinent documents are not disclosed or are buried in a veritable blizzard of paperwork. They provide details, interviews and the like with parties who have little or nothing at all derogatory to declare about bank practices. Lets just say it is unlikely they will ever deliberately place you in get in touch with with a whistleblower.

Philip Kramer believes in fighting the great fight. Rather than becoming put off by the efforts of Bank of America and others to obfuscate and delay, he sees their behavior as the final desperate attempts of the behemoths to hold off disclosure. Its not going to operate, says Kramer. It never does.

Far more of Philip Kramers observations can be discovered at the Law Offices of Kramer and Kaslow blog.

ABOUT PHILIP KRAMER
PHILIP A. KRAMER is the senior companion of the Law Office of Kramer & Kaslow, in Calabasas, California. Kramer & Kaslow is Martindale Hubbell AV rated. Mr. Kramer is a perennial recipient of the prestigious Southern California Super Lawyer award.

Mr. Kramer received his undergraduate degree from Ohio State University and his Juris Doctorate from the Catholic University of America, in Washington, DC. His practice emphasizes industrial litigation and trial advocacy, with a concentration on organization litigation, and genuine home matters. He has prosecuted and defended situations for over twenty 5 years.

Mr. Kramer is a licensed true estate broker and has spent considerable time providing legal services in connection with true estate concerns relating to loan modification and loss mitigation, land use and zoning, environmental concerns, easements, construction and improvement, finance, and landlord tenant matters.

Mr. Kramer is admitted to practice before all courts in the State of California, the United States Supreme Court and the United States Court of Military Appeals. Mr. Kramer has tried in excess of 200 circumstances. He has appeared on nationally televised programs with regards to pre-trial procedure and trial technique and has appeared as a guest lecturer on topics ranging from constitutional law to trial practice, and Mr. Kramer often lectures on a broad spectrum of different legal and company troubles.

Mr. Kramer also serves as a Judge Pro Tem for the Los Angeles Superior Court and as a Mediator.

Mr. Kramer is also a past president of the Los Angeles West Inns of Court, a national organization devoted to bringing professionalism and civility back into the legal profession. He also serves on several Boards of Directors and serves as an officer in many companies. For far more data contact (818) 224-3900 or go to http://kramer-kaslow.com

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