DOER ALERT: Dear Bank of America…



Dear Bank of America, and by Bank of America I mean CEO Brian Moynihan…

Brian, I’m running out the door at the moment.  I have to make a flight to Arizona so I can attend a meeting in the morning at the state capitol.  A state senator called me last week asking for my help promoting a bill related to the foreclosure situation there.  Were it not for my schedule, I’d be ripping you and your bank to pieces in this column, and then asking all of my DOERS to inundate you with emails and letters in support of yet another homeowner who’s life you have irrevocably, unconscionably and inconceivably harmed.

I’ll be back at my desk tomorrow, and I was just going to wait until then to deal with you, but you see… this story brought tears to my eyes asa I sat here checking in for my flight… I guess I’m just emotional (although I think “human” is the more appropriate word) about such things, while you perhaps are not.  Anyway, I decided that even though I didn’t have time to write the story in detail… I’d let you know what’s coming soon to a theater near you.

My thinking is, if you want to avoid me having to spend the eight or so hours it takes me to write all of the details into a piece that will be read and remembered by tens of thousands of people all over the country, you’ll address this situation before I get home tomorrow afternoon.  I hope you don’t view this as some sort of threat… I don’t mean it that way… I hate people that threaten, you know what I mean?  Either do it or shut up, has always been my motto.

I’m just giving you a heads up, if you will, of what tomorrow afternoon is absolutely certain to bring if you don’t do something about… hey, do you remember the Perry Mason television show from days gone by…

The Case of the Grieving Grandpa and the Lying Lender


Mr. Dale Wright of Cloverdale, California

Loan Number 149664284

Brian, this one’s going to make a great story too, so if you can’t make time to handle it before I’m home tomorrow afternoon, you’re going to wish you had.  Here are a few highlights… think of it as the show’s preview or a movie trailer…

Mr. Dale Wright of Cloverdale, California turned to Bank of America for help in 2009 after being told by the President of the United States that Bank of America would help him, if at all possible.  Mr. Wright is an 82 year-old veteran who’s been a pillar of his community since before you were born, Brian.

He was approved for his trial modification under the Making Home Affordable program on March 23, 2010.  I’m told by several people involved in his case that he made all of his payments on time and as agreed and I have reason to believe they are correct.  He was denied for a permanent loan modification because of Bank of America claimed not to have received a new 4506T… even though you had received said 4506T, 30 days earlier and I’m told those things are good for 90 or 120 days.

No matter… he was told he was being reconsidered as of December 6, 2011.  In fact, he was told he was under consideration as of December 23rd.  You SOLD his house on January 3rd, Brian. He’s 82 years old, Brian.  December 25th is Christmas, Brian.  January 3rd is two days after New Years, Brian.  God damnit… Bank of America doesn’t need to do sh#t that week, Brian. (I’m sorry, for my language, but I can’t take much more of this without swearing, Brian.)

Of course, your bank didn’t tell him it was sold on January 3rd.  He found out when the investor knocked on his door on January 3rd and told him that it would be understood if he needed more than three days to move out!  The investor told Dale he was buying the property to “flip it.”

(SIDEBAR: You might want to mention to whoever that was that said that to him, that he’s damn lucky that it wasn’t me that answered the door that day because I don’t have any prior criminal record and I’d be willing to pick up a first offense charge for beating the crap out of someone for doing that to my grandfather. But, I don’t suppose he would have said it to me, now would he?  No, he only says things like that to 82 year olds, I’m fairly sure.)

So, Mr. Wright called and Bank of America was like…

“Wo, wo, wo… we don’t know how this happened… we were trying to postpone the sale, but Wells Fargo wouldn’t do it and they’re the investor that owns the loan. It wasn’t our fault… blah, blah, blah.”

Your bank sold the home of an 82 year-old veteran right after New Years so some investor could flip it, and couldn’t even be bothered to make a call to let him know?  No… instead you blamed it on Wells Fargo, saying they were the investor and they wouldn’t agree to delay the sale or modify the loan.  Hmmm… think that’s true, Brian?  I wonder…

But luckily, I didn’t have to wonder for very long… here’s the email from Wells Fargo from just a few days ago:



Date: Tue, 17 Jan 2012 14:01:19 -0600

Subject: Dale Wright

 Dear Ms. Sheets,

Wells Fargo Bank, N.A. received and reviewed your recent correspondence regarding your concerns as it relates to your Grandfather’s mortgage.

After researching this matter, we have verified that Wells Fargo Bank is not the Investor/Owner and does not have a direct role in servicing the loan.  That being said, I am forwarding your letter to the servicer, Bank of America, instructing that they subsequently respond in a timely manner to your concerns giving Mr. Wright every consideration allowed. 

I urge that you continue addressing Bank of America with concerns pertaining to this matter.  You may contact Ms. Nora Jones at 817-864-2293 at Bank of America to request that she escalate this matter within Bank of America. 

Wells Fargo Bank makes every effort to facilitate and inform servicers of such issues so they may properly respond. 


Cathy Martin 

Client Service Consultant 

Wells Fargo Bank 

9062 Old Annapolis Road 

Columbia, MD  21045 

410-884-2161 FAX 866-493-7814 


Ooopsie!  I guess your system was wrong… or your bank’s wires got crossed.  Or maybe they were just feeding Mr. Wright “Lie Number 32,863,” from the Bank of America Handbook?


The man’s wife passed away in 2006.  They were married for 53 years.  Your bank explained that a request for postponement went in on the 23rd of December 2011 on a loan which Bank of America agreed to review for HAMP on December 1, 2011 and then you sold  the home on January 3, 2012… Brian, are you trying to punish this man?

Fix this, Brian.  Fix it so that it doesn’t happen to even one more elderly person.  Because if you’ve heard of karma, your later years are likely going to be a real bear if you don’t.



BRIAN… Kristie Sheets is his granddaughter… HER NUMBER IS: 707-632-6101.  You can call her and ask how to make this right, if you have a mind to do so.  I’ll be home tomorrow afternoon, and I’ll check with her before I do anything else.  This, as I mentioned, was just a preview of coming attractions.  (Insert Perry Mason Music here.)

Mandelman out.



Brian Moynihan, President, CEO & Chairman

Bank of America

Matthew Task, Executive Relations, 
Office of the CEO (At BofA)

Phone: 813-805-4873

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