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OperationLeakS: "Ex-Bank Of America Employee Can Prove Mortgage Fraud"

Tyler Durden's picture




 

An advance look at data to be released in under 2 hours from the previously discussed OperationLeakS indicates that tomorrow may be a very bad day from John Paulson, David Tepper and the rest of the "don't fight the fed" crowd.

 

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Sun, 03/13/2011 - 22:14 | 1048173 ManOfBliss
ManOfBliss's picture

We'll see...

Sun, 03/13/2011 - 22:20 | 1048194 tellsometruth
tellsometruth's picture

true

 

Sun, 03/13/2011 - 22:50 | 1048400 Pladizow
Pladizow's picture

Chicken Little's - The Sky is Falling.

Unfortunately I dont think much will become of this.

 

Mon, 03/14/2011 - 01:54 | 1049209 rich_wicks
rich_wicks's picture

If Dick Fuld, Angelo Mozilo, and Franklin Raines were all caught on tape eating babies with 2 dozen prostitutes, snorting cocaine, while performing ritual murders - the US government wouldn't find enough evidence to prosecute them.

Let's just face it - none of these people will ever be prosecuted.

Mon, 03/14/2011 - 03:26 | 1049358 Sudden Debt
Sudden Debt's picture

BAC IS DOWN 4% IN TOKYO!

 

It's almost like they nuked it and Godzilla is shewing in the remains :)

 

Sun, 03/13/2011 - 22:16 | 1048176 John McCloy
John McCloy's picture

I am waiting with baited breath. The real question is does this go mainstream? Also not to sound black helicopterish but why does this release coincide with the biggest natural disaster in 6 years?

  I hope it is merely coincidence because these criminals need to serve time and the Snookites need to know just how Wall Street makes their false profits.

Sun, 03/13/2011 - 22:27 | 1048247 Iam_Silverman
Iam_Silverman's picture

"why does this release coincide with the biggest natural disaster in 6 years?"

Simple illusionist trick - hey look over there while I make my assistant disappear!  Japan is evaporating before our eyes, run, panic, oh, and some banksters may need to be investigated.  back to panic mode!

Mon, 03/14/2011 - 00:05 | 1048828 Orly
Orly's picture

Your slow, Silverman.  Their waz this guy who sed "baited breath."

I gess punckchewayshun iz you're strong suite.

You loose!

Mon, 03/14/2011 - 22:44 | 1053419 Iam_Silverman
Iam_Silverman's picture

Touche'.

Also capitalization fail.

Sun, 03/13/2011 - 23:43 | 1048736 jeff montanye
jeff montanye's picture

bated breath

Mon, 03/14/2011 - 00:12 | 1048870 Crumbles
Crumbles's picture

What are you using for bait, idiot?  Uneducated dunce more like it.

Sun, 03/13/2011 - 22:17 | 1048184 Rhone_Ranger
Rhone_Ranger's picture

Is it X-Mass morning already?

Sun, 03/13/2011 - 22:17 | 1048187 citta vritti
citta vritti's picture

Will be lost if mideast blows up

Sun, 03/13/2011 - 22:20 | 1048202 Howard_Beale
Howard_Beale's picture

No it won't. The market isn't going to dismiss any of it if it's truly damaging.

Tick tock tick tock....

Sun, 03/13/2011 - 22:25 | 1048230 Cursive
Cursive's picture

@Howard_Beale

Good to read a ZH original, old friend.  Only fitting that Howard_Beale's avatar would be here for this moment.  Let's hope OLS and A99 are really Fed up and their not gonna take it anymore.

Sun, 03/13/2011 - 22:34 | 1048286 Howard_Beale
Howard_Beale's picture

Good to see you too, Cursive. It's been a long time.

I am hopeful that this is going to be a stake in the heart of the fraudster banksters. But I am prepared to be let down if it isn't...tick tock tick tock T-minus 85 minutes. 

Mon, 03/14/2011 - 00:11 | 1048866 Oracle of Kypseli
Oracle of Kypseli's picture

What if the exposer is GS who will end up buying the clean part of BOA for cheap?

It needs the retail parts to compliment the investment bank portion.

Mon, 03/14/2011 - 04:33 | 1049407 chumbawamba
chumbawamba's picture

Mideast Meltdown + Japan Jitters is going to leave some craters (probably literally) in the financial markets anway so whatever comes of this--if it turns out to be the bombshell promised then we'll have a trifecta and say hello to $2,000 gold--we are sure to see an interesting week.

Another major quake is coming.  Where it hits, nobody knows.  If it's California, say hello to $4,000 gold.

P.S. I heard that Martin Armstrong got out of prison.

I am Chumbawamba.

Sun, 03/13/2011 - 22:26 | 1048231 Cursive
Cursive's picture

Dup.

Sun, 03/13/2011 - 22:18 | 1048189 Yen Cross
Yen Cross's picture

Great time to come clean! What a joke!

Sun, 03/13/2011 - 22:33 | 1048287 underpants
underpants's picture

dude. i know i shouldn't feed the trolls, but you are a true retard.  nobody (except me obviously) cares about your flibbertygibbits.  now go away please. fohevah.

Sun, 03/13/2011 - 23:37 | 1048696 Yen Cross
Yen Cross's picture

At least Capitalise you pudgy Panda.

Sun, 03/13/2011 - 23:46 | 1048752 jeff montanye
jeff montanye's picture

why capitalize capitalize or panda?

Mon, 03/14/2011 - 00:05 | 1048838 Orly
Orly's picture

Deutsche

Mon, 03/14/2011 - 00:08 | 1048851 Yen Cross
Yen Cross's picture

Good point.

Mon, 03/14/2011 - 00:20 | 1048898 Yen Cross
Yen Cross's picture

Capitalize, to set the record straight. Jeese everyone gets a mispell on oc(c)casion. Extra c intended. FWIW I was researching Capitalism at the time.

Mon, 03/14/2011 - 00:28 | 1048923 Yen Cross
Yen Cross's picture

P.S. It's Mr. Dude to you junior.

Sun, 03/13/2011 - 22:22 | 1048190 HamyWanger
HamyWanger's picture

No way the MSM will talk about this.

Even if Moynihan was a murderer, sociopath, fraudster bastard who had documented connections with the organized crime -- which is probably the case --, the mass medias won't report it, and the lawsuits filed will go directly to the paper shredder of the Ben Bernank.

Libertarians need to deal with it. Nothing's ever going to change. Fraud will continue. 

Learn it, love it, trade it. 

Sun, 03/13/2011 - 22:23 | 1048209 Howard_Beale
Howard_Beale's picture

Right....if the stock is down big they won't say anything at all about it. Lol...

Sun, 03/13/2011 - 22:54 | 1048431 Pladizow
Pladizow's picture

Hamy Wanger wrong again: http://www.cnbc.com/id/42062011

Sun, 03/13/2011 - 22:23 | 1048212 metastar
metastar's picture

Yes, the machine will say that 2+2=5. Its the old Jedi mind trick being played on the public. Some people may fuss for a while, but the truth will soon be forgotten as America has a short attention span.

Sun, 03/13/2011 - 23:03 | 1048471 Bolweevil
Bolweevil's picture

I think they're Sith, actually?

Sun, 03/13/2011 - 22:33 | 1048278 vote_libertaria...
vote_libertarian_party's picture

There was a mention on the news ticker on MarketWatch about an hour ago.

 

They (the leakers) better have something good or they won't get a second chance.

Sun, 03/13/2011 - 22:39 | 1048317 DoChenRollingBearing
DoChenRollingBearing's picture

That is very true.  If they're talking the talk, they better walk the walk.

Sun, 03/13/2011 - 23:05 | 1048477 financeguru500
financeguru500's picture

I'm sorry but I am going to have to side with everyone that says the media won't even cover this.

If the stock market goes down tomorrow due to this news, the media will blame it on the earthquake/tsunami, just like they blamed bad jobs report on "snow".

If the media is covering this news, expect it to be an uneventful day tomorrow.

Sun, 03/13/2011 - 22:42 | 1048339 Cleverbot
Cleverbot's picture

Cats are the gateway to hell and one of the few demonic portal to this realm.

Sun, 03/13/2011 - 22:54 | 1048418 Pladizow
Pladizow's picture

Hamy Wanger is of course wrong again: http://www.cnbc.com/id/42062011

Sun, 03/13/2011 - 22:21 | 1048204 GeneMarchbanks
GeneMarchbanks's picture

Like all of you I'm looking forward to it. I hope there is a huge impact otherwise they'll scrap the whole operation. If it catches attention they'll only be encouraged. 

Sun, 03/13/2011 - 22:24 | 1048223 dryam
dryam's picture

I think I felt it move.

Sun, 03/13/2011 - 22:24 | 1048224 sunnydays
sunnydays's picture

I can't wait for this to come out.  Wouldn't it be nice for all those MERS banks to be called out on the foreclosure fraud.  Since BOA is a MERS I would bet all the banks do the same.

 

 

Sun, 03/13/2011 - 22:27 | 1048244 LongSoupLine
LongSoupLine's picture

CNBC will be too busy with "real news", like:

Phil LeBeau sitting for 3 hours, discussing the Volt with GM's CEO.  Melissa Lee talking about the business of hookers. Reactors melting?, BAC fucing the public?, Middle East exploding?...shit, that's NOT acceptable MSM reporting protocol.

Sun, 03/13/2011 - 22:30 | 1048263 Iam_Silverman
Iam_Silverman's picture

NFL work stoppage!  Probably the single most important news item this week!  Can you imagine a world without football?  Japan, yes, Middle East Oil, sure - but NO FOOTBALL?  Riot police will be stationed in the streets.

<SarcOff/>

Sun, 03/13/2011 - 22:46 | 1048364 Howard_Beale
Howard_Beale's picture

Well we'll just watch and see what happens at midnight since you know damn well they all hate to be scooped by ZH.

If there is anything to it, it will hit Bloomberg, Reuters, Dow Jones, and every wire out there in seconds.

Mon, 03/14/2011 - 00:10 | 1048853 Orly
Orly's picture

And what's with all the porn over there?  I can't hardly stand to even browse the headlines because it leaves the impression that the US economy is based on porno...

 

and weed.

/:

Mon, 03/14/2011 - 00:14 | 1048878 Oracle of Kypseli
Oracle of Kypseli's picture

It attracts the youth. That's who starts true revolutions.

Mon, 03/14/2011 - 01:26 | 1049144 Yen Cross
Yen Cross's picture

Youth has parents (funding for your revolution) Think twice! Knock Knock?

Mon, 03/14/2011 - 01:21 | 1049131 Yen Cross
Yen Cross's picture

Stay classy Orly. Don't DELVE into the abyssal zone.

Sun, 03/13/2011 - 22:28 | 1048248 Cursive
Cursive's picture

SIAP, but does OLS have this data because they broke the encrypted file that JA put out there?  The original ZH post said that Assange had shared it with them, but did provide details about whether it was the encrypted file or not.

Sun, 03/13/2011 - 22:29 | 1048255 squexx
squexx's picture

Hang the bastards!

Sun, 03/13/2011 - 22:43 | 1048345 Troll Magnet
Troll Magnet's picture

i'm with max keiser when he says we need to castrate these fuckers for crimes against humanity.

seriously, i can't think of a better punishment than that.  it's simply genius.  killing them is too short and easy.  let'em suffer without their balls for the rest of their lives.  and it'd be so easy to spot all the ex banksters as they'll all have high pitched voices.  after all they've wrought, we deserve to at least laugh at their expense.

Sun, 03/13/2011 - 22:56 | 1048442 Pladizow
Pladizow's picture

Would they be ex-bankers or ex-ballers?

Sun, 03/13/2011 - 23:03 | 1048468 Temporalist
Temporalist's picture

Like in Trading Places - the best way to hurt the truly wealthy is to take away their fortune. 

Sun, 03/13/2011 - 23:50 | 1048776 jeff montanye
jeff montanye's picture

testosterone is available by prescription.  better to take their money and jail them.

Sun, 03/13/2011 - 22:29 | 1048256 Oh regional Indian
Oh regional Indian's picture

Interestign times indeed. As if everythinng si conspiring together to push that big reset button DOWN together. 

A co-ordinated takedown and most of the sources/forces are Anon!

Surprise! Be fascinating to see market action, people re-action this week. I sense a little "madness of the crowds", in extremis.

Be well everyone, breathe. It's just getting started.

ORI

http://aadivaahan.wordpress.com/2011/03/11/axis-trembles/

Sun, 03/13/2011 - 22:32 | 1048262 bob_dabolina
bob_dabolina's picture

I'm really hoping this is good and thank you ZH for bringing this to our attention.

It would be really something if this was like the Ping scandal...ya know Moynihan urinating on homeowners and sticking markers up their asses in exchange for loan mods.

Sun, 03/13/2011 - 22:29 | 1048264 PulauHantu29
PulauHantu29's picture

If BAC goes Belly up, who will take over?

1. Goldman Sachs?

2. Wells Fargo?

3. Other?

Sun, 03/13/2011 - 22:33 | 1048280 cosmictrainwreck
cosmictrainwreck's picture

whoever has the buckos - and inside lock with Fed, SEC, etc etc - just wait for the stock to go to $1, then buy the whole lot. simple

Sun, 03/13/2011 - 22:42 | 1048313 Howard_Beale
Howard_Beale's picture

Goldman is smarter than to buy the conglomerate of Countrywide, BAC, Merrill, et al.

Buffett and Wells, nah.

Other? The US Taxpayers. Yeah, that sounds right. Bailout nation - only this will be the straw that breaks the camel's back.

Sun, 03/13/2011 - 22:35 | 1048291 Real Estate Geek
Real Estate Geek's picture
Ex-Bank Of America Employee Can Prove Mortgage Fraud

 

Not if he's dead.  They'll stop at nothing.

"Death solves all problems - no man, no problems."  ~Stalin.

Sun, 03/13/2011 - 22:54 | 1048425 snowball777
snowball777's picture

"You can kill a man, but you can't kill an idea." - Medgar Evers

 

Sun, 03/13/2011 - 23:00 | 1048453 Pladizow
Pladizow's picture

Um Hello, Pre-recorded video!

Sun, 03/13/2011 - 22:39 | 1048325 gwar5
gwar5's picture

The suspense is killing me.....

Mon, 03/14/2011 - 00:06 | 1048831 SHRAGS
SHRAGS's picture

 

...I hope it will last. Oscar Wilde

Sun, 03/13/2011 - 22:42 | 1048348 dark pools of soros
dark pools of soros's picture

remember, the news has to be simple enough as 'your neighbor gets more money than you' for the public to give a shit

 

anything complicated is just terrorist talk like what's on wikileaks

 

 

Sun, 03/13/2011 - 22:44 | 1048353 trav7777
trav7777's picture

WOW...a HUGE leak.  NOBODY knew BOA committed fraud.  LOL

Sun, 03/13/2011 - 23:07 | 1048507 Cursive
Cursive's picture

@trav7777

Good point, but I don't view this as a standalone effort to disclose the fraud.  OperationLeakS is going to provide the rationale for Anonymous to begin the attacks.  A99 isn't going to wait around for a bunch of bought-off corrupt politicians and beaurcrats to ignore this fraud.  It's a media campaign to rationalize the cyberattacks that will commence.  A99 is the enforcement arm, OLS provides the reason for the enforcement action.

Sun, 03/13/2011 - 23:13 | 1048541 Theos
Theos's picture

I dunno man. I bet if I asked everyone I saw on the way to work if they could define a mortgage...

 

Apparently 4chan is going to save us all. Now that's scary.

Sun, 03/13/2011 - 23:27 | 1048642 wandstrasse
wandstrasse's picture

the embassy-notes-wikileaks story was presented VERY big by our media. However it did not stir the minds at all. When US embassadors say e.g.  foreign minister/state secretary Westerwelle is an arrogant idiot ... this has ca 75% consent in the population. I am afraid Average Joe is very aware that banks are shitting him all the time. He just has no idea what to do about it. My hopes for the BoA thing are high, expectations are low.

Sun, 03/13/2011 - 22:44 | 1048360 Gary Busey
Gary Busey's picture

its Ken Lewis!

Sun, 03/13/2011 - 22:59 | 1048452 snowball777
snowball777's picture

Okay that was fuckin' funny.

Sun, 03/13/2011 - 23:51 | 1048775 Yen Cross
Yen Cross's picture

Wisdom at it's best Snowball!

Sun, 03/13/2011 - 22:46 | 1048369 Milton Waddams
Milton Waddams's picture

opESR is not getting much traction in the anonymous chat rooms: http://irc.lc/Anonops/opESR

Sun, 03/13/2011 - 22:47 | 1048381 mr_T
mr_T's picture

Don't hold your breath... Here a shovel, there's the door crack... Just like GWB, CAN"T touch this... can't say the same for Hammer and the IRS... 

Sun, 03/13/2011 - 22:50 | 1048392 victor82
victor82's picture

Can't we have Thunderdome and Tina Turner?

Two Investment Banksters go in!

One comes out!

Sun, 03/13/2011 - 22:54 | 1048413 Mad Max
Mad Max's picture

I'm in.  Oh, except that I'm not an investment banker (or any other kind of banker).  How about you send in the i-bankers one at a time?

Sun, 03/13/2011 - 23:07 | 1048495 Temporalist
Temporalist's picture

After thinking about this for a while I believe people that have been defrauded should line up and kick any fraudsters in the groin, man or woman.  Who gets to be first on line is drawn by lottery.

Sun, 03/13/2011 - 23:10 | 1048526 Cursive
Cursive's picture

@victor82

I've talked about this before.  I think it would be funner if a bankster had to go up against a petty criminal.  Who will win this round, Johnny?  The pencil neck white collar criminal or the gas station robber?

Sun, 03/13/2011 - 23:26 | 1048627 cosmictrainwreck
cosmictrainwreck's picture

+10 no shit. same could be said for any of the hot-shot scum in FIRE (maybe top-level lawyers, too. dickheads). many a time I wished any one of 'em to spend a few days living my life and see how fuckin' smart they are... let alone "badass"

Sun, 03/13/2011 - 22:51 | 1048408 Scisco
Scisco's picture

I expect nothing to come out of this. There is rampant fraud everywhere if one cares to look. The system is a pile of turds. If a few more are thrown on top, is it really going change anything?

Sun, 03/13/2011 - 22:53 | 1048414 Selah
Selah's picture

 

Bank of America is the "turd in the punchbowl".

Remember that?

JPM will get the goodies and any losses will be protected by the taxpayers.

 

Sun, 03/13/2011 - 22:57 | 1048436 ebworthen
ebworthen's picture

 

Printing press #3 is being warmed up as we speak.

Markets will not crash until Washington drops support for Wall Street (e.g.- only when the blood of Wall Street and Washington are both in the street - which follows the blood of real citizens).

 

Sun, 03/13/2011 - 23:06 | 1048483 Godisanhftbot
Godisanhftbot's picture

IT IS THE END TIME

PREPARE TO MEET YOUR FINAL JUDGE

Sun, 03/13/2011 - 23:07 | 1048485 Godisanhftbot
Godisanhftbot's picture

IT IS THE END TIME

PREPARE TO MEET YOUR FINAL JUDGE

 

ok, so you get to meet him twice

Sun, 03/13/2011 - 23:15 | 1048546 snowball777
snowball777's picture

We have only one god. And he is the sun god. Ra Ra Ra.

Sun, 03/13/2011 - 23:05 | 1048486 Artifice
Artifice's picture

Does this remind anyone else of the climax of Cruel Intentions? You can always hope that nobody will inform these assclowns of their impending doom, and they'll be left holding the bag of crack.

 

Good times, good times..

Sun, 03/13/2011 - 23:08 | 1048511 waterdog
waterdog's picture

No one needs to prove mortgage fraud to me. I believe it. I do not question it. Let it die. Stop talking about it. No one is going to jail. Release it to the supermarket tabloids and move on.

 

Sun, 03/13/2011 - 23:09 | 1048516 prophet
prophet's picture

Free Merrill has been one of my themes since they got taken. 

and a follow up to last week's discussions on ZH about Sally and the herd here is a link to a BW article

http://www.businessweek.com/magazine/content/11_11/b4219066798636.htm

Sun, 03/13/2011 - 23:18 | 1048572 snowball777
snowball777's picture

Pimped for Thain? Feel the pain! The 'Thundering Herd' should be sold to an Outback Steakhouse.

Sun, 03/13/2011 - 23:15 | 1048554 prophet
prophet's picture

and a BW article on HBGary.  I stopped reading at "corporate account on Google" .  Nuf said.

http://www.businessweek.com/magazine/content/11_12/b4220066790741.htm?campaign_id=magazine_related

Sun, 03/13/2011 - 23:33 | 1048664 mdwagner
mdwagner's picture

The easiest way for TPTB to discredit Anonymous is going to be to imitate them which isn't hard to do and put out a string of crap that never pans out.  Much easier than stopping them.

Sun, 03/13/2011 - 23:35 | 1048697 Cursive
Cursive's picture

Will this be affected by daylight savings time?

Mon, 03/14/2011 - 00:03 | 1048820 jeff montanye
jeff montanye's picture

daylight saving time (i've known the correct formation for less than a day).

Sun, 03/13/2011 - 23:49 | 1048772 glenlloyd
glenlloyd's picture

It should appear at 11pm CST, midnight eastern

Mon, 03/14/2011 - 00:01 | 1048818 thetruth
thetruth's picture

...

Mon, 03/14/2011 - 00:04 | 1048827 Bansters-in-my-...
Bansters-in-my- feces's picture

Laws aren't for Banksters.....
United Snakes of Amerika says so.

Mon, 03/14/2011 - 00:05 | 1048835 Village Idiot
Village Idiot's picture

9:05 PST - Show me the money.

Mon, 03/14/2011 - 00:05 | 1048836 grl
grl's picture

I think the hacker's got hacked.

Part 1 link   results in:

Service Temporarily Unavailable

The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later.

Apache Server at bankofamericasuck.com Port 80
Mon, 03/14/2011 - 00:23 | 1048914 myshadow
myshadow's picture

lthey shouldn't have announced..I have been getting the same denial of service...

Mon, 03/14/2011 - 00:05 | 1048842 Bansters-in-my-...
Bansters-in-my- feces's picture

H

Mon, 03/14/2011 - 00:07 | 1048846 VyseLegendaire
VyseLegendaire's picture

The server is overloaded as he just uploaded the content.  Wait a few mins. 

Mon, 03/14/2011 - 00:07 | 1048849 dark pools of soros
dark pools of soros's picture

I've seen one pic so far..  of an email saying he has an old paystub proving he worked there...

 

crippled site so far

 

Mon, 03/14/2011 - 00:09 | 1048857 dark pools of soros
dark pools of soros's picture

#BlackMonday Ex-Bank of America Employee Can Prove Mortgage Fraud Part 1
Written by OperationLeakS on March 13th, 2011. Posted in Bank Of America Fraud Emails, Corporations

I’m @OperationLeakS read every line and screenshots…..

@OperationLeakS : Do you have proof you worked at Bank of America?

 

 

 

 

@OperationLeakS : Ok send them….

 

 

@OperationLeakS : Don’t worry your name will not show you will be Anonymous…

 

 

@OperationLeakS : Do you have more emails like this?

 

 

@OperationLeakS : Do you know other Employees that want to tell their story?

 

 

@OperationLeakS : So why are you doing this?

 

 

@OperationLeakS : Let your BoA friends know that we are here to help them tell their story….

 

 

@OperationLeakS : It’s like a Cult?

 

 

@OperationLeakS : So why do you want BoA head so bad?

 

 

@OperationLeakS : What other emails you have?

 

 

@OperationLeakS : So do everyone hold on to emails if one day fired?

 

 

@OperationLeakS : Was it always like this at BoA?

 

 

@OperationLeakS : Do BoA have a Prize system?

 

 

@OperationLeakS : That’s not fair that you guys don’t get Awards….

 

 

OperationLeakS : So they waste time and money playing matching games…

 

 

@OperationLeakS : Was there times you wanted to quit when seeing bad things taking place ?

 

 

@OperationLeakS : So the waitresses knew about what happens in BoA ?

 

 

@OperationLeakS : You could have still quit….

 

 

@OperationLeakS : When you was fired did you take your things like pictures ect.?

He sends me a picture..

 

 

@OperationLeakS : If I could plug a mic into Internet what would to say about Bank Of America?

 

 

I make a user and password for him to login…..

 

My name is (Anonymous). For the last 7 years, I worked in the Insurance/Mortgage industry for a company called Balboa Insurance. Many of you do not know who Balboa Insurance Group (soon to be rebranded as QBE First by Australian Reinsurance Company QBE according to internal communication sent to all Balboa associates) is, but if you’ve ever had a loan for an automobile, farm equipment, mobile home, or residential or commercial property, we knew you. In fact, we probably charged you money…a lot of money…for insurance you didn’t even need.

Balboa Insurance Group, and it’s largest competitor, the market leader Assurant, is in the business of insurance tracking and Force Placed Insurance (aka Lender Placed Insurance, FOH, LPI, etc). What this means is that when you sign your name on the dotted line for your loan, the lienholder has certain insurance requirements that must be met for the life of the lien. Your lender (including, amongst others, GMAC, Aurora Loan Services [a subsidiary of Lehman Bros Holdings], IndyMac Federal Bank [a subsidiary of OneWest Bank], Saxon, HSBC, PennyMac [a collection agency started by former Countrywide Home Loans executive Stan Kurland after CHL and Balboa were sold to BAC], Downey Savings and Loans, Financial Freedom, Select Portfolio Services, Wells Fargo/Wachovia, and the now former owners of Balboa Insurance themselves…Bank of America) then outsources the tracking of your loan with them to a company like Balboa Insurance.

Balboa makes some money by charging these companies to track your insurance (the payment of which is factored into your loan). If you do not meet the minimum insurance requirements set by your lienholder, Balboa Insurance places a force placed insurance policy on your loan. You are sent a letter telling you that you do not have insurance, and your escrow account is then adjusted for the inflated premium of a full coverage policy placed by Balboa’s insurance tracking group, run by Steven Ramsthel, Sr Vice President of Loan Tracking Operations & Customer Care at Balboa Insurance Group, as seen on his LinkedIn profile below:

 

How is Balboa able to charge such inflated premiums and get away with it?
It’s all very simple.

First, when you call in to customer service, for say, GMAC, you’re not actually speaking to a GMAC employee. You’re actually speaking to a Bank of America associate working for Balboa Insurance who is required by their business to business contract with GMAC to state that they are, in fact, an employee of GMAC. The reasoning is that if you do not realize you’re speaking to a Bank of America/Balboa Insurance employee, you have no reason to question the validity of the information you are receiving from them. If you call your insurance agent and ask them for the lienholder information for your GMAC/Wells Fargo/etc lien (home or auto) you will be provided with their name, but the mailing address will be a PO Box at one of Balboa’s 3 main tracking locations (Moon Township/Coreaopolis, PA, Dallas/Ft Worth, TX, or Phoenix/Chandler, AZ)

 

Tells me Boa is knowingly hiding Foreclosure information from Feds…

 

(Tools) needed to Decode the emails….

1. SOR = System of Record
2.Rembrandt/Tracksource = Insurance tracking systems
3.DTN = Document Tracking Number..

Screen shots of the Emails that was sent…….

 

Mon, 03/14/2011 - 00:09 | 1048850 Deepskyy
Deepskyy's picture

Site is getting hammered so its slow, but here is the link

http://bankofamericasuck.com/03/13/ex-bank-of-ameica-employee-can-prove-...

Mon, 03/14/2011 - 00:15 | 1048882 Cursive
Cursive's picture

Yeah, slow.  Here's the twitter updates:

http://twitter.com/OperationLeaks

just wait a minute to get in refreshing every sec will not...

Mon, 03/14/2011 - 00:09 | 1048858 Bansters-in-my-...
Bansters-in-my- feces's picture

Hey Padizow,what nice eyes you have.

I could look into your eyes all day.

Mon, 03/14/2011 - 00:13 | 1048875 johngaltfla
johngaltfla's picture

Interesting thus far. I've downloaded the two most interesting emails and to say that this wasn't illegal would be to say that crapping on a pew during church services for Easter was not in bad taste. If this is a sample, BoA is going to get smoked.

Mon, 03/14/2011 - 00:26 | 1048918 Cursive
Cursive's picture

What two?  All I can see so far is a little background on the guy (worked at Balboa Insurance) and he's trying to get some MSM attention to get others to tell their story.

Mon, 03/14/2011 - 00:29 | 1048932 johngaltfla
johngaltfla's picture

Now I've posted 3 of the postings from Anonymous. 1 posting from "the ex-employee" plus 2 emails. The system they used was clever. And if validated damned illegal.

Operation Anonymous aka BlackMonday Data Dump on Bank of America Just Hit
Mon, 03/14/2011 - 00:35 | 1048945 mdwagner
mdwagner's picture

I read an urgent request to delete about 50 loan tracking numbers, then an explanation that if you search for the DTN's, the letters come up but they're not matched to any loan.  This was in response to working with the federal regulators.

Mon, 03/14/2011 - 00:13 | 1048877 Bansters-in-my-...
Bansters-in-my- feces's picture

I know..I know...

I forgot the "L" in Pladizow.

sorry.

I forgot the "K" in my name too.

Banksters-in-my- feces

Spelling ain't my strong point.

Mon, 03/14/2011 - 00:14 | 1048880 vas deferens
vas deferens's picture

Here is the leak. link is working

http://cottonandsand.com/sandandcotton/?p=3204

Mon, 03/14/2011 - 00:17 | 1048893 gwar5
gwar5's picture

That was pretty good Vas D!

Mon, 03/14/2011 - 00:22 | 1048907 Village Idiot
Village Idiot's picture

Here is the leak. link is working

dumb ass.

Mon, 03/14/2011 - 00:24 | 1048912 homersimpson
homersimpson's picture

chix peeing.. bleh

Mon, 03/14/2011 - 00:24 | 1048915 John117
John117's picture

LMAO  

And I was just telling my son I had never been Rick Rolled.

Mon, 03/14/2011 - 00:27 | 1048925 Cursive
Cursive's picture

I think it was more like a "Pee Holed".

Mon, 03/14/2011 - 00:25 | 1048906 REIT Bubble
REIT Bubble's picture

**wouldn't work**

Mon, 03/14/2011 - 00:27 | 1048908 REIT Bubble
REIT Bubble's picture

dupe

Mon, 03/14/2011 - 00:29 | 1048931 glenlloyd
glenlloyd's picture

I've read everything they've posted so far and it suggests something isn't right but without more it only invites speculation....part duex needs to be released pronto if they have it, and I assume they do.

Yes, the site is getting hit pretty hard right now.

Mon, 03/14/2011 - 00:34 | 1048943 johngaltfla
johngaltfla's picture

Actually if this is validated in a court of law (of course I'm a unicorn so that means it will never be prosecuted either) this is some seriously illegal shit.

You can not scan original documents then remove reference data from a Federally audited database to obsucre or impede any FDIC/regulatory oversight. This appears to be what they did. I hope part 2 comes out quickly also.

Mon, 03/14/2011 - 00:40 | 1048966 dark pools of soros
dark pools of soros's picture

they can bury the docs under building 7's rubble

Mon, 03/14/2011 - 01:10 | 1049092 Seymour Butt
Seymour Butt's picture

I think it's probably buried with Jimmy Hoffa.

Mon, 03/14/2011 - 00:33 | 1048944 johngaltfla
johngaltfla's picture

Actually if this is validated in a court of law (of course I'm a unicorn so that means it will never be prosecuted either) this is some seriously illegal shit.

You can not scan original documents then remove reference data from a Federally audited database to obsucre or impede any FDIC/regulatory oversight. This appears to be what they did. I hope part 2 comes out quickly also.

Mon, 03/14/2011 - 00:49 | 1048985 TruthInSunshine
TruthInSunshine's picture

Devastating, from both a civil and criminal standpoint.

Mon, 03/14/2011 - 08:23 | 1049694 cjbosk
cjbosk's picture

climax?  Yawn...

Mon, 03/14/2011 - 09:46 | 1049935 Bicycle Repairman
Bicycle Repairman's picture

Who's handling the prosecution?

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