Bank of America "significantly hindered" a review of its foreclosures on loans insured by the Federal Housing Administration. That's according to testimony of an auditor with the U.S. Department of Housing and Urban Development who was assigned to investigate Bank of America last fall.
Assistant Regional Inspector General Thomas Nixon says Bank of America was reluctant to make employees available for interviews and dragged its feet in providing documents about the foreclosure process. The testimony is part of a lawsuit brought by the state of Arizona accusing Bank of America of misleading homeowners who were seeking mortgage modifications.
Read more from Bloomberg News. The Huffington Post has links to the court documents: