Bank of America Corp. is looking to sell mortgage servicing rights (MSRs) on $93 billion of mortgages to Walter Investment Management. Green Tree Servicing LLC, a subsidiary of Walter Investment Management, has had a significant number of consumer complaints regarding its debt collection practices. Thousands of homeowners will be charged inflated mortgage servicing fees if the sale is completed. For this reason, we the people of the United States petition the Obama Administration to prevent the sale of MSRs by Bank of America to Walter Investment Management until Bank of America explains how the sale of MSRs to Walter Investment Management will “improve customer service capacity” and complaints regarding Green Tree Servicing LLC debt collection practices are addressed.
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