A former Bank of America phone center worker is expressing concerns about the treatment of Spanish-only speakers trying to get loan modifications.
The accusations are prompting the bank to reevaluate how it helps Hispanic customers.
The woman now works for a real estate agent, negotiating short sales for homeowners with Bank of America and other lenders. We agreed not to use her name because she fears the bank could retaliate against her current clients.
The woman's job involved calling homeowners who were getting permanent loan modifications.
She followed a script. She congratulated them, then she scheduled a notary to deliver the papers so the homeowner could sign on the spot. It may seem like a convenience, but the phone rep believes the service actually pressured people into making hasty decisions about loan mods that may or may not be in their best interest.
"There's some big fat guy sitting on some yacht smoking some big cigar lining his silk-lined pockets with some cash," she said. "And I'm sitting there helping him."
The woman, who's bilingual, worried most about customers who only spoke spanish. After all, she said, they could not read, much less understand, the important mortgage documents. They were written in English.
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