CLASS ACTION SUIT JULY 2010 TEXAS

PLAINTIFFS’ ORIGINAL COMPLAINT

I. PRELIMINARY STATEMENT

1. Plaintiffs are and represent people who purchased their first homes between 1994

and 2006, usually with loan assistance from the Federal Housing Administration and the U.S.

Department of Veterans Affairs. Their loans were all serviced by Defendant BAC, which is a

wholly owned subsidiary of Defendant Bank of America, N.A.

This lawsuit complains not of

poor customer service by BAC, but of a systematic home loan servicing scheme that includes

hours of telephone runaround, misleading and inconsistent information, lost correspondence,

verbal abuse, and extensive delay, all of which have documented costs not only in terms of

money, but in health. The facts in this case reveal the harsh reality that underlies the loan

Case 6:10-cv-00051 Document 1 Filed in TXSD on 06/29/10 Page 1 of 51

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servicer’s press statements about loan modifications and forbearance agreements following

collapse of the U.S. housing market.