The online hacker group Anonymous, which is not affiliated with Wikileaks, released emails Monday morning that allegedly prove that Bank of America committed mortgage fraud. The bank has denied the allegations.
The leak comes from an anonymous former employee of Balboa Insurance, which was acquired by BoA in 2008 and sold to QBE Group. Balboa is a leader in insurance tracking and "forced-place insurance." That means if a homeowner falls behind on premiums, the insurance company buys a new policy on their behalf so that the home stays insured.
The source claims that the bank scrambled or deleted numbers used to identify loan insurance accounts, allegedly to help them foreclose on home loans. In the first of the leaked emails, which can be found online here, a asks for a group of tracking numbers to have their "images removed" from the insurance tracking system.
It is not clear in the emails, or in the early analysis of the emails, why the images were removed or whether the bank tried to deliberately confound auditors by deleting file numbers on insurance accounts.
In one leaked email, a Balboa employee asks about "huge red flags" for auditors over a change in record keeping, writing, "It just doesn't seem right to me."
Read more analysis of the leaks at Business Insider.
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