Bank of America / Countrywide Financial - Mackler

DEFENDANT NAME: Bank of America
STOCK SYMBOL: NYSE: BAC
CASE NUMBER: 11-CV-3270
COURT: U.S. District Court for the Eastern District of New York
PRACTICE AREA: False Claims Act, Mortgage Fraud, Whistleblower Litigation
STATUS: Settled
CLASS PERIOD:
LEAD PLAINTIFF DEADLINE:
DATE FILED: 02/08/12
COURT LOCATION:
RELATED DOCUMENTS:
CONTACT:

HBSS represented whistleblower Gregory Mackler, who challenged Bank of America’s alleged fraudulent handling of the Home Affordable Modification Program (HAMP) meant to help millions of struggling homeowners. 

Mr. Mackler’s complaint, filed in 2011 under seal, alleged that Bank of America violated its agreement with the Department of Treasury to assist qualified homeowners in obtaining modifications of their mortgages under the HAMP program.  The Treasury Department itself in 2011 suspended its incentive payments to Bank of America for its substantial noncompliance with the terms of its servicer agreement with the Treasury Department. 

Mackler, represented by Hagens Berman partner Shayne Stevenson, alleged that instead of attempting to help qualified homeowners whose mortgages the bank serviced, it instead undermined their ability to get mortgage relief.

The government investigated Mackler’s claims of servicing fraud at Bank of America and ultimately brokered a settlement with the Bank

Hagens Berman praises the Department of Justice for its efforts in the case, particularly Assistant United States Attorney Richard Hayes who handled the investigation and settlement.

Hagens Berman takes whistleblower cases brought under the False Claims Act as well as more recently adopted programs at the Internal Revenue Service (IRS), the Securities and Exchange Commission (SEC)and the Commodities Futures Trading Commission (CFTC).


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05/16/12: Case Settled

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