Bank of America Corp. is facing a new lawsuit that accuses the financial services giant of misleading borrowers about loan modifications so it could acquire properties through foreclosure.

At issue are borrowers who applied for a modification through BofA utilizing the Home Affordable Modification Program.

It’s not the first such lawsuit filed against the Charlotte, North Carolina-based company, and many allegations in the new case are similar to, or cite, those made in previous HAMP-related lawsuits.

Source: Mortgage Daily