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BofAComplaint

BofAComplaint

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Published by: DinSFLA on Jan 27, 2012
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02/08/2012

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1TerryGoddardAttorneyGeneral2(FirmStateBarNo.14000)SusanP.Segal3AssistantAttorneyGeneralStateBarNo.0060984CarolynR.MatthewsAssistantAttorneyGeneral5StateBarNo.013953OfficeoftheAttorneyGeneral61275WestWashingtonStreetPhoenix,
AZ85007-2926
7consumer@azag.gov8AttorneysforPlaintiff
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DEC172010
INTHESUPERIORCOURTOFTHESTATEOFARIZONAINANDFORTHECOUNTYOFMARICOPA
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ase0.:2STATEOFARIZONA,
exrel.
TERRY13GODDARD,AttorneyGeneral,14Plaintiff,
15
vs,
16COUNTRYWIDEFINANCIALCORPORATION,aDelawarecorporation;COUNTRYWIDEHOME17LOANS,INC.,aNewYorkcorporation;FULLSPECTRUMLENDING,INC.,aCalifornia18corporation;BANKOFAMERICACORPORATION,aDelawarecorporation;BANK19OFAMERICA,NATIONALASSOCIATION,anationalbank;BACHOMELOANSSERVICING,20LP,aforeignlimitedpartnership;RECONTRUSTCOMPANY,N.A.,awholly-ownedsubsidiaryof21BankofAmerica,N.A.;andBLACKCORPORATIONS1-10,22
23
2425Defendants.COMPLAINT(VIOLATIONSOFCONSENTJUDGMENTANDVIOLATIONSOFARIZONACONSUMERFRAUDACT)Plaintiff,theStateofArizona
by
itsAttorneyGeneralTerryGoddard("State"or26"AttorneyGeneral"),foritscomplaint,herebyallegesasfollowsinsupportofitsclaimsthat
 
1theDefendantshaveviolatedArizonalawintheirservicingofresidentialhomemortgageloans.2First,DefendantshavefailedtohonorthecommitmentsmadeintheConsentJudgment3("ConsentJudgment")enteredonMarch13,2009,whichresolvedallegationsthatCountrywide4engagedinconsumerfraudinitsmortgagelendingpractices.
StateofArizona
v.
Countrywide5FinancialCorporation,CountrywideHomeLoans,Inc.,andFullSpectrumLending,Inc.
6(MaricopaCountySuperiorCourt,CauseNo.CV2009-006468).
See
ConsentJudgment,7Exhibit"A."Morebroadly,Defendantshavecontinuedtoengageinwidespreadconsumer8fraudbymisrepresentingtoArizonaconsumerswhethertheywereeligibleformodificationsof9theirmortgageloans,whenBankofAmericawouldmakeadecisionontheirmodification10requests,whetherBankofAmericahadapprovedtheirmodificationrequests,whyBankof
11
Americadeclinedtheirmodificationrequests,andwhetherandwhenBankofAmericawould12forecloseupontheirhomes.BankofAmerica'sfailuretoofferloanmodificationsinthetime
l3
andmannerpromisedanditsdeceptionofconsumersaboutthestatus,timing,impact,and14outcomeoftheirloanmodificationrequestsviolatetheArizonaConsumerFraudAct,A.R.S.15§§44-1521,etseq.("ConsumerFraudAct").16JURISDICTIONANDVENUE171.ThisCourthasjurisdictiontoconsiderthisComplaintpursuanttotheConsent18Judgment"IIL2.3,III.8A,III.lO.3,ULlOA,andtheConsumerFraudAct,includingA.R.S.19§§44-1521and-1532,andtoorderinjunctiverelief,restitution,civilpenalties,costsof20investigation,andattorney'sfeestopreventthepracticesallegedinthisComplaintandto21remedytheconsequencesofthosepractices.222.VenueisappropriateinMaricopaCountypursuanttoA.R.S.§12-401.23PARTIES243.PlaintiffistheStateofArizona,
exrel.
TerryGoddard,theAttorneyGeneralof25Arizona,whoisauthorizedtobringthisactionundertheConsentJudgmentandtheConsumer26FraudAct,includingA.R.S.§§44-1521and-1532.-2-
 
1
4.DefendantCountrywideFinancialCorporation("CFC")
IS
aDelaware-3-2corporationandathriftholdingcompanydoingbusinessinArizona.35.DefendantCountrywideHomeLoans,Inc.isaNewYorkcorporationlicensedto4dobusinessinArizona,isawhollyownedsubsidiaryofCFC,andisorwasalicensed5mortgagebankingorganization.6
6.
DefendantFullSpectrumLending,Inc.isorwasaCaliforniacorporation,isor7wasawholly-ownedsubsidiaryofCFC,andisorwasalicensedmortgagebanking8organization.97.DefendantBankofAmerica,NationalAssociation('<N.A.")isanationalbanking10associationwithitsprincipalplaceofbusinesslocatedinCharlotte,NorthCarolina.Atall11timesmaterialhereto,BankofAmerica,N.A.wasacorporationregisteredtodoanddoing12businessintheStateofArizona.
13
8.
DefendantBankofAmericaCorporationisaDelawarecorporationwithits14principalplaceofbusinesslocatedinCharlotte,NorthCarolina.BankofAmericaCorporation15isaholdingcompanyandtheparentcompanyforDefendantsCFCandBankofAmerica,N.A.169.OnJuly1,2008,DefendantBankofAmericaCorporationannouncedthatithad17completeditspurchaseofCFC,includingCountrywideHomeLoans,Inc.,FullSpectrum18Lending,Inc.,andCountrywideHomeLoansServicing,LP.1910.DefendantBACHomeLoansServicing,LP("BAC")isalimitedpartnership20withitsprincipalplaceofbusinesslocatedinAustin,Texasandisauthorizedtodobusinessin21Arizona.BACisasubsidiaryofBankofAmerica,N.A.2211.DefendantReconTrustCompany,N.A.("ReconTrust")isanon-deposittrust23companyandawholly-ownedsubsidiaryofBankofAmerica,N.A.thatservicesdefaulted24mortgagesinanumberofstates,includingArizona.Atalltimesmaterialhereto,Recon'Irust's25principalplaceofbusinesswaslocatedinThousandOaks,California.2612.UponitsacquisitionofCFe,BankofAmerica,N.A.throughBACassumedthe

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