“HUD spent 16 months investigatiing the foreclosure practices of Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial over a two-year span from October 1, 2008 to September 30, 2010. These banks were found to have foreclosed on numerous homes prematurely, often without contacting homeowners to discuss options to avoid foreclosure, HUD concluded.

Today, the inspector general’s office reports that these banks hampered an early HUD investigation with shoddy paperwork, and restraints on the ability for investigators to interview bank employees.” Common Dreams

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