A class action has been filed against Bank of America Home Loans Servicing, LP, a subsidiary of Bank of America, N.A. (“BAC”) on behalf of all persons (1) with home mortgages serviced by BAC who were charged excessive and unlawful default service fees, including inspection fees; and/or (2) who accepted a Step Rate home loan modification offer with Countrywide Home Loans Servicing LP (“Countrywide”) which was not honored by BAC.

I. Plaintiff's Factual Allegations

Plaintiff has alleged that since taking over the servicing of Countrywide home mortgages, BAC has failed to honor loan modification agreements between homeowners and Countrywide and also has charged homeowners who are in default excessive and unlawful default related servicing fees.

As set forth in the complaint filed on March 28, 2011, Plaintiff has alleged that by charging excessive and unlawful default service related fees, such as inspection fees in amounts ranging from $75 to $195, BAC is in violation of the Consent Judgment and Order with the Federal Trade Commission, dated June 15, 2010, the New York consumer protection statute, GBL § 349, and the mortgage deed of trust. Plaintiff also has alleged claims for breach of contract and the covenant of good faith and fair dealing and promissory estoppel for BAC’s failure to honor the Countrywide Step Rate loan modifications.

II. Relief Sought

The class action complaint specifically seeks injunctive relief and actual damages.

III. Contact Giskan Solotaroff Anderson & Stewart

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