NY Times: Proposed Settlements on Foreclosure Worsen Situation

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SCAM CONTINUES: EVERYONE KNOWS BUT NOTHING IS DONE

EDITOR’S NOTE: The fear that the sky will fall prevents “responsible” journalists and government officials from using the f-word, so I will. This was a fraud from start to finish and anything short of reversing it is ignoring established law, decency and common sense. The foreclosure methods employed were fraudulent because the entire scheme was a PONZI-like scam. The mortgages and notes are invalid and unenforceable, the liability has been paid, and any home taken in foreclosure — past, present or future — is an extortion payment to the financial industry that has already been paid several times over.

Editorial

Wrongful Foreclosures

Published: April 16, 2011

We were worried recently when we saw an advance draft of legal agreements between federal regulators and the nation’s big banks to address and correct foreclosure abuses. The actual deals were as bad as we feared.

It turns out that the inquiry that preceded the agreements was limited to reviews of “foreclosure-processing functions” — things like paperwork handling and work-force supervision. The reviews found big processing problems — no surprise there — and the agreements call for more staff and better management.

What was not looked for is far more significant. Because so few files were examined, the regulators’ report says, “the reviews could not provide a reliable estimate of the number of foreclosures that should not have proceeded.” So much for the burning question of the extent of wrongful foreclosures. The reviews also did not look at potential abuses outside the foreclosure process, including unreasonable loan fees and misapplied loan payments. Such faulty charges can precipitate default by making it impossible for borrowers to catch up on late payments.

Nor did the reviews focus on faulty loan-modification processes, like instances in which bank employees wrongly told borrowers they needed to be delinquent to qualify for new loan terms. Delinquency subjects borrowers to late fees, damaged credit and an increased risk of falling hopelessly behind. It also harms mortgage investors who are stuck with the loan losses. But it can be profitable for banks that service loans; they can extract late fees from the borrower or upon the foreclosed home’s sale.

To add insult to injury, the agreements leave it largely up to the banks to investigate themselves on those issues. They require banks to choose, hire and pay independent consultants to check a sample of pending foreclosures; banks are then supposed to reimburse wronged borrowers. The regulators pledge to ensure that the reviews are comprehensive and reliable. We’re not holding our breath.

The agreements do not include monetary penalties, though regulators say fines are coming. Regulators appear divided over whether the agreements should preclude efforts by the states to correct and punish foreclosure abuses. The Federal Reserve and the Federal Deposit Insurance Corporation have stated clearly that the agreements do not stop other enforcement actions. The Office of the Comptroller of the Currency has not ruled out such interference. Over all, an important opportunity has been missed for real reform, redress and accountability.

19 Responses

  1. I found this on the web an wanted to share:
    Banksters are Devils stealing Million$ while homeowner crash and burn!!

    Bank of America’s “Tasmanian Devil” says we shouldn’t be thinking of our homes as “assets”.

    It should be readily apparent that there are an overabundance of reasons for Bank of America’s CEO, Bryan Moynihan, to be regarded as a massive rear end in a province undeniably replete with rear ends of utterly mammoth proportion.

    Even the adjectives in that last sentence don’t begin to do the nature of his posterior justice.

    To begin with, let’s just acknowledge that Moynihan is a corporate lawyer. He graduated in 1981 from Brown University… a history major that co-captained the rugby team. He then went on to Notre Dame Law School.

    In 1993 he went to work at Fleet Boston as deputy general counsel, but after Bank of America acquired Fleet in 2004 Moynihan became the bank’s president of global wealth and investment management, and from October 2007 to December 2008, he served as the bank’s president of global corporate and investment banking. But from December 2008 to January 2009, Moynihan once again returned to his roots, serving as general counsel for Bank of America, and he became CEO of Merrill Lynch after its oh-so-well-thought-out-and-executed sale to Bank of America in September 2008.

    A history major that co-captained the rugby team transformed into Bank of America’s president of global corporate and investment banking… okay, sure… why the heck not? His predecessor, Kenny-They-Made-Me-Do-It-Lewis started his climb to the top of the largest financial institution in the country, as a credit analyst with a B.S. in Finance from Georgia State at what would soon be NationsBank before merging with and becoming today’s Bank of America. As they say… the smartest guys in the room, no two ways about that.

    Back in 2005, Bank of America was trading at around $50 a share, as was JPMorgan. As I write this you can buy the stock at an overpriced $12.82.
    Kenny was singlehandedly responsible for the bank’s spectacular decline, paying way over mini-bar prices for Countrywide and Merrill Lynch. JPMorgan’s CEO,

    Jamie Dimon, meanwhile, managed to pay essentially bupkis for the assets he purchased during the crisis, and along with the Federal guarantees he was able to extort… I mean, successfully negotiate… his financial behemoth has recovered almost all the shareholder value that it lost during the meltdown. So, very well done there, and as a taxpayer let me just say that I’m glad to have been able to help.

    Kenny, by the way, after costing his shareholders roughly $150 million, retired with $83 million in cash, according to the Wall Street Journal… including a $4.2 million salary in 2009, if you can comprehend that. I can’t, by the way, so if you can… well… you’re completely insane.

    Lewis had a nickname for Bryan Moynihan, this also according to the WSJ… the Tasmanian Devil, and he used it to convince members of Bank of America’s Board of Directors that Bryan was the right man for the CEO position after his ouster. The “Tasmanian Devil,” in case you don’t recall your Saturday morning cartoons, is the Looney Tunes character that can’t form complete sentences and creates sand storm hurricanes everywhere he goes.

    Nancy Bush, a well-known independent banking analyst at NAB Research, in so many words, confirmed to Bloomberg that Moynihan’s nickname has basis, saying:
    “He’s always thinking way faster than he can talk,” Bush said. “The thoughts tend to run together, and it’s been somewhat of an impediment to getting people to focus on what he’s saying, rather than the way he’s saying it.”

    In his new book, Crash of the Titans, Financial Times’ writer, Greg Farrell tells the tale of how Moynihan got his job, first as General Counsel for Bank of America Merrill Lynch, and ultimately as the bank’s CEO. Apparently, Moynihan was all set to leave Bank of America, the bank had even prepared a press release announcing his departure, when out of nowhere, Kenny decided to can the bank’s General Counsel, Tim Mayopoulos, a guy Farrell describes in his book, which is a fabulous read by the way, as an “egomaniacal wild man.”

    So, then one day he was shooting at some food, and up through the ground came a bubbling crude… Bryan’s the bank’s new GC… and Kenny’s best guess for the new CEO. One of the reasons Ken recommended Moynihan was that he actually wanted the job, which should make you throw up in your mouth a little bit, assuming you own the stock as almost everyone does in one fund or another.

    Today, Bryan Moynihan is known for an uncanny ability to put a positive spin on any situation, which I find a lovely euphemism for saying he lies well, assuming such a thing is possible. He’s driving a financial institution that required TWO federal bailouts totaling $45 BILLION in cash, to say nothing of the federal guarantees, and is today being sued by so many consumers and investors that I can’t even keep up anymore.

    As of the end of 2010, more than 1.3 million of the bank’s mortgage customers were delinquent on their loans, close to 200,000 of those haven’t made a payment in at least two years, and a third of the homes facing foreclosure are now vacant, making them costly to maintain and, shall we say, a tad difficult to sell. A report issued by Moody’s at the end of last year showed that when talking about resolving delinquent sub-prime loans, Bank of America lagged behind ALL of the other six major servicers.

    Moynihan’s statements about the bank’s inability to clean up its mortgage mess include saying things like: “At the end of the day, we could have done better,” which is the kind of thing that makes me want to scratch his eyes out. He has also pointed out that the scale of Bank of America’s modification efforts far exceed those of his competitors, and that the bank has completed 725,000 modifications since January 2008, but other numbers tell a different story.

    Of the homeowners who failed to get their loans permanently modified under the federal government’s HAMP program, only 14 percent were granted in-house modifications by Bank of America, compared with 31 percent at JPMorgan Chase, 27 percent at Citibank, and 40 percent at Wells Fargo.

    Stories about Bank of America customers enduring year long… and longer nightmares in order to get answers about loan modifications are so common as to be safely considered the norm. As of September 2010, of the 425,000 Bank of America mortgagees deemed eligible for HAMP, only 0.7 had begun trial modifications, according to the federal data.

    It’s improved since then, but when you’re talking about millions of loans, improvements that are measured in tens of thousands just isn’t going to cause anyone to stand up and cheer.

    A year ago, the bank posted a “profit” of $3.2 billion or 28 cents a share, and in mid-April 2011 the bank’s revenue declined 16% versus a year earlier, and it posted a first quarter “profit” roughly $1.2 billion under that number… at 17 cents a share. Since he took the helm, the bank’s shares have fallen something like 20%, and with the potential losses on the bank’s $2.1 TRILLION in mortgages still to come being estimated by some at $35 BILLION, it’s little wonder that the bank’s stock, although inexplicably (Ha ha) still rated a “buy” last time I checked, is seen by investors as a significant risk.

    Mr. Moynihan, however, says everything is going swimmingly.
    “While still soft, the economy is healing; we see retail spending up versus the year-ago period and continued declines in bankruptcy filings and delinquency rates,” Moynihan said. And last December he told the New York Times: “It’s been a great year and we’ve learned a lot… there’s not a better job in the world.”

    Most recently, Moynihan launched a Jimmy Carter-esque type approach to fixing the bank’s woes. Referred to as “Project New BAC,” it basically means that 44 executives and a couple of consulting firms will fan out and scour the mega-financial-mess that is Bank of America in an effort to glean ideas from the rank and file as to how expenses might be lowered, and how revenues and/or productivity might be increased. (Are you feeling all warm and fuzzy about this initiative?

    Yeppers… me too.)
    Now, if all of that weren’t enough to make the case for Bryan Moynihan being this month’s REAR, here’s what really got me started on him in the first place. Last month, at the 2011 National Association of Attorneys General conference, Moynihan actually came out publicly and said that HOME PRICES MAY NOT REBOUND LONG-TERM, in some areas anyway. According to Moynihan, homeowners may need to look elsewhere for their long-term investment returns… and forget about their homes being worth more than they owe… like, in their lifetimes. He blamed population growth, by the way.

    According to an April 12th, 2011 story by Joe Rauch for Reuters: “It’s sobering to think, but some people shouldn’t be thinking of (their home) as an asset, they should be thinking of it as a great place to live.”
    Is that right, Bryan?

    A great place to live… and dramatically overpay for, I suppose. Because we shouldn’t be thinking about our real estate holdings as “assets,” is that what you said? You’re a real asshat, Mr. Moynihan, you know that? Modify the predatory loans, Mr. General-Council-turned-CEO. Stop being part of the problem, and help stop the financial and foreclosure crises that you and yours created.

    Or, I’ll tell you what… we’ll stop looking at our homes as financial assets as soon as you stop looking at the garbage Collateralized Debt Obligations and mortgage-backed securities you defrauded the planet with as securities… how about that?

  2. Wisc. Decision : Aurora does not contend that Exhibit D is admissible on this basis.

    Aurora argues that Conner’s testimony is sufficient to support the circuit court’s finding that Aurora had been assigned the note. Our review of her testimony, however, reveals that Conner lacked the personal knowledge needed to authenticate Exhibit D. See WIS. STAT. § 909.01 (documents must be authenticated to be admissible, and this requirement is satisfied “by evidence sufficient to support a finding that the matter in question is what its proponent claims”). Relevant here, Conner made general assertions covering several documents. Conner either affirmatively testified or agreed to leading questions with respect to the following:

    M.Soliman – There is no dispute, as the information is open and notorious by now that Aurora is acting as a “Bad” Bank. It’s actually a ghost of Lehman Bros bank and assets held by Aurora . In the case referred to on this site in late March

    Either party fails to address that issue of MERS roles as a nominee on the behalf of – Lehman assets were assigned to a receiver and placed with Aurora. Insitinctivly , I hold that MERS is a Bad Bank and Planitff , if so with standing under MERS ; If one reasons MERS enables FDIC to avoid having to expose itself to claims of forfeiture without a right of hearing – MERS, representing the FDIC is the logical choice for the more compelling response “which is “does Counsel work on the FDIC payroll” and is this a matter of a receiver issuing a Pro Tanto order to repossess title. Discovery would require the parties to divulge in more difinitive statements the ownership of the asset ; under TARP and yet the MERS controversy lives – – -M.Soliman

  3. Your work has helped me most on my four fraudulent loans that no one knows who owns and I’ve been fighting 3 YEARS AND i DID GET MY N.C. HOME FORECLOSED ON ABOUT A YEAR AGO AND THERE WAS PERJURY, AND PREDJUDICED AGAINST FLORIDA OWNERS AND LEGAL AID IS THE ONE WHO WORKED FOR ME I THOUGHT, BUT IT ENDED BEING COUNTRYWIDE AND B OF A. WHAT CAN I DO WHEN 2 ATTORNEIS LIED ONE TOOK MY MONEY AND WASN’T EVEN LICENCED I N TH E STATE.

  4. Date :Monday, April 18, 2011
    To: Counsel

    Fr: Expert.witness@Live.com
    Re :Debt Collectors

    Su: Federal Deposit Insurance Corporation (FDIC) Receivership Assistance Contractor

    Herein below is one of the service providers assisting the FDIC with past placement of legal services contractors. The company provides services for legal professionals that staff the Federal Deposit Insurance Corporation (FDIC) Receivership Assistance Contractors. They have been in business for more than 15 years.

    I submit you use caution in how you approach these matters engaging legal services contractors that pose as debt collectors. Their engagements with the FDIC will allow them to take a more aggressive view towards claims made by Plaintiff’s, especially those suing Lenders that no longer exist.

    At Expert.Witness we provides analysis and testimony that is not buying into Banksters and Bank misfeasance in foreclosure nor does it buy into foreclosure claims versus a Pro Tanto repossession of title to homes.

    Our continuing focus is on the debt collector’s as representing a charge or write down for a defunct lenders balance sheet and amount due that is now a burden on the tax payer. This is why some of the recent decision’s I have seen are not going to stay up very long if the D’Oensche Doctrine kicks in . It is also why I believe the future of MERS is here to stay as the only way and means of reviving a “cyber” loans to form and substance.

    MERS none the less serves the homeowner for claims that make MERS a victim of a material misrepresentation and support for your claim.

    Every homeowner has rights and the civil right to due process. Some of the claims I see that are brought into a court are like the recent wave of mass joinder cases. They squander the victims’ rights on a frivolous claim

    This organized national effort is an interesting form a forfeiture with no right to eminent domain hearing as the compensation received on a loan at settlement may act as satisfaction required to transfer title as part of the liquidation of the failed lenders inventory.

    Therefore the lenders obligation may be construed as a purchase money event. Repossession of title is likely drawn out over time in an orderly liquidation and by foreclosure in abstention.

    It’s a procedural effort critical for perfecting a claim by the FDIC against your lender bank.

    You can talk yourself blue trying to make lawyers hear the message and rightfully so where it’s hard to release the idea of a conventional foreclosure. Repossession of failed banks assets, brought by the FDIC is permissible under the agencies repudiatory powers and power to stay a circuit courts decision for equitable claims. The claim is for transferring title away from the property to a receiver for bank management’s outstanding liability. The liability does not transfer to the successor bank.

    The effort is none the less a tax payer liability which is transferring your home as a remuneration for an outstanding amount is due under TARP. TARP in my view is the missing link for capitation to take place. And the concept discussed here is the only logical way to shore up the missing capital piece for with the creditor is a receiver and the debt collector is coming after the real property asset to capitate the gap in losses

    For more information as to personal views
    MailTo:Expert.witness@live.com

    ———————————————————————-
    Federal Deposit Insurance Corporation (FDIC) Receivership Assistance Contractor

    MMC has been awarded task orders to provide receivership assistance services and/or staff management and transition services to sixteen (16) failed financial institutions, including Washington Mutual Bank, IndyMac Bank, Franklin Bank, Bank United and Silverton. In 2008 alone, MMC has provided these services to failed financial institutions (receiverships) with assets totaling more than $343 billion and deposits totaling more than $210 billion. The staffing of receiverships has varied from as few as ten (10) personnel to more than five Hundred (500). An intrinsic part of the responsibilities include matching of staff to the size of tasks and replacement of staff in critical areas. Since many of these institutions have numerous subsidiaries in a variety of industries, staffing includes supporting all subsidiaries, including hospitality, real estate, construction, leasing, automotive dealerships (including maintenance), utilities, brokerage, insurance, and financial services.

    Expert.Witness

  5. “Rep. Maxine Waters (D-California) has revised a bill she’s brought to the table several times before that would compel lenders to engage in what she says are “reasonable loss mitigation activities” for all delinquent homeowners.”

    Her husband got busted taking TARP money for buying rehab property

  6. John Anderson,
    I forward your post to Matt Weidner Esq and Chip Parker Esq. Kudos to you, keep fighting. We are with you.

  7. KEEP FIGHTING. KEEP PUNCHING. KEEP KICKING. DON’T STOP, DON’T LET UP. BURY THEM WITH REQUEST FOR ADMISSIONS, REQUEST FOR PRODUCTION, INTERROGATORIES. REMEMBER THE COURT CANNOT GRANT SUMMARY JUDGMENT WHILE DISCOVERY IS OUTSTANDING.
    YOU PEOPLE THAT FIGHT ARE HEROES. WE POST THE WORK AND SHARE THE MESSAGE SO YOU SEE GOOD ATTORNEYS EXIST.
    WE ARE ALL IN THIS TOGETHER.

  8. The banks will NEVER straighten out the mess unless they are tried and found guilty of crimes and sent to jail. Burmese8@yahoo.com

  9. By the way – I do not bank at any of the top ten banksters – stopped doing that back in 2000.

    After I began to see the independent companies fund the sub prime loans and then the top banksters start to acquire them in 2008-2009, I knew we were in trouble.

    At first, the top ten did not want the public to think they participated in such loan activitiy, but it was the only way they could get a piece of the pie since it appeared to be so lucrative – so it appears they started buying out the little mortgage bankers and of course any servicing operations that came on the market.: Goldman bought Litton, It appears that Chase bought Bear Stearns for 287 million just days after the tax payers contributed 28 Billion to honor Bear Stearns debts – BOA Bought Countrywide – Well there you go!!! – this step had to be taken before the process to massivey foreclose our homes could begin – control.

    They played one ploy after another through the use of the administration with its Housing REcovery assistance, the Home Affordable Plan – Message to buy time to execute the plan. And it worked, that is so far.

    Surely I must be wrong about all of this !!!! – message – we will control the people – well they are trying hard enough even when some of these fraudsters have admitted the fraud.

    All of these banks now have an opportunity to straighten out this mess which could result in a win win situation – All they have to do is tell the stockholders they need immunity from them, then they can begin to work with the Homeowners to end the housing crisis and they in turn, along with the rest of the nation, can go to sleep at night knowing a resolution to end this crisis is just a step away.

  10. TO Angry & Not Taking It Anymore –

    Thanks, thanks, thanks.

    Now the only reason for confronting the Feds is so they can hear the voice of the people – As you said – you are not taking it anymore and we will simply use that which we can coordinate and effect.

    Yes, everyone knows about the fraud, how it came about and lastly, the pitiful way that law enforcement, the politicians and this administration is going to handle it –

    I don’t care now whether they admit the fraud or not, what is done is done and we are now at a cross roads. The banks and financial service participants are counting on us “not to have a voice”, so far, we have proven them right.

    Thanks again – to everyone on this site that has contributed so much – I have to wonder now why, we don’t even respond to the people who certainly made a difference in my decision making process even though I have been in the business for over 40 years. We have the leaders, we just don’t have the drive – or do we?

  11. Joyce Cauthen.. even if you confronted the fed the results will yield the same fraud.. THEY [fed] ADMITTED THE FRAUD IN THE REPORT. everybody knows!

  12. Joyce Cauthen you are 100% correct.
    fwiw – anyone who reads this blog & still has a
    [ voluntary ] bank account at ANY of the major criminal banks you are a problem – for yourself & more importantly all of us fighting these vampires.
    the power is in your decision ..use it!

  13. I don’t want a loan modification! I don’t want a settlement by the AGs of the fraud committed by the banks and Wall St! I want the courts to follow the rule of law! Especially the rule of the CLEAN HANDS DOCTRINE, that requires the court to deny relief to a petioner, who lies, or uses fraudlent documents to win their case. Do you think Judge Judy would rule in favor of a party who produces a proven, fraudulent document?
    It is hard to get the judge to look at the fraud of bogus assignment of mortgages, robo-signed affidavits, and any other obvious frauds upon the court action by the foreclosure mills and law groups because they know that EVERYBODY DOES IT, and they don’t want to follow what the law requires, because they do not want to be known as the judge that crashed the banks and the economy.
    They have a conflict of interest, as their state pensions, are all invested in this scam that has been perpetrated on the American citizen and the whole world.
    In my case the assignment of mortgage was filed only after the judge required them to present it. The lawyer for Ben Ezra & Katz PA was asked about the assignment after I asked the judge to show me how I was being sued by Liquidation Properties Inc, when my loan was through Quick Loan Funding. The Judge asked the attorney where the assignment was as he looked through the papers, and she replied “Isn’t it with the papers?.
    The hearing was postponed for 30 days and when my wife and I showed up we were told that the hearing had been canceled by the plaintiff. The assignment was not filed at the courthouse until 2 weeks later on 07/27/2009, with a bogus effective date of 10/01/2008.
    The assignment was prepared by the now infamous DOCX of Alpharetta GA, owned by L.P.S. of Jacksonville FL, it transferred the mortgage from Quick Loan Funding to Liquidation Properties Inc, and was signed by Korell Harp and Tywanna Thomas as Vice President and Asst Vice President of MERS Inc as nominee for Quick Loan Funding.
    Quick Loan Funding’s license was revoked by the Department of Corporations of the State of California on 05/27/2008 case # 603-8736 over three months before my foreclosure case was filed. MERS continued to list Quick Loan as my servicer for over a year until on 02/22/2010 I filed a
    “Notice of Filling of Evidence in Support of Defendants Opposition to Plaintiff’s Motion for Summary Judgement”, in which I presented evidence to show the fraud in the assignment. Included in the notice was a Affidavit of Lynn E Syzmoniak, as a expert witness concerning the signatures on the assignment, a copy of my assignment and three other assignments signed by Harp & Thomas showing different job titles and wildly different signatures all notarized by the same notary Brittany Snow, that are exactly the same to the point of being a obvious stamp imprint. According to the GA Court Clerks Co-Op Authority website there is no record of a Brittany Snow ever being a notary in Fulton County, but when I called them the other day, they confirmed that she was a notary in Fulton County and her commission expires on 05/20/2011. I am filing a official complaint against her. I urge others to do the same.
    We are losing more than our homes in this! What is at stake is rule of law! They are all dragging their feet while the pretender lenders are stealing homes that are really the properties of the investors who put up the money, and ether lost all or most of that money “if they did not have AIG insurance” and are forgotten in all this.
    Using advice from Niel Garfield Esq, Chip Parker Esq, Lynn Szymoniak and local foreclosure hero Matt Weidner, and others I have managed to stay in our home of 36 years, and I thank them.

  14. I would bet good money that they in fact DID look. I would also bet the results were so bad if they announced them the economy would tank.
    Real estate is what keeps bank solvent. They been a parasite on real estate for 50 years getting a slice of nearly every property sold .

  15. Well, there you go!!! Everyone on this cite is still talking, talking, talking – no takers to confront the Feds for what they have allowed to be done to the American people and the rule of law itself.

    The banks pay billions in advertising costs to get your business and the American people continue to do business with them – I don’t want the banks to fail – but what I do believe is that we the people should decide whether they pass or fail – and people, you simply are not stepping up.

    What happen to the movement for the people? The Tea Party has an organization in place that we can trust – why has some effort not been coordinated with them to organize a movement – not against the banks or the Feds per se – but a movement for the people that will “take their country back” and that the banks need us every bit as much as we might think we need them. The politicians and AG’s have clearly let us all down and we are yes, still voting them in and allowing this to go on and on.

    I don’t want to hear anymore whining about how these banks and other fraudsters took the American people and our Country down – Hell, we are out there helping them do it. And yes, there is not a newspaper in this world that should be purchased by one American because they use us as their customer base – and then they sell us a bunch of malarky – and guess what, we are buying it. Pelly on 60 min saying they have just now heard about the securitization “mess” – please. Had they been on it years ago when so many of us knew, they could have saved the american people so much anguish and it would have reached perhaps some people who want to make a difference and I am not talking about the politicians and AG’s.

    It is hard I know to take such desperate steps so as to possibly cause further stress to this nation and its people, but people, you voted today and this is what you got. Instead of the rule of law, we got the rule of the Banks.

    I want all of the non profits Neighborworks, NCRC, the Organization for REsponsible Lending and others to please stand up – How about fessing up to the paychecks of the Officers of your company and tell us how how much money was derived from the FEDS (taxpayers). And tell us what you accomplished – I am listening. Not only could they have done much to prevent the mess, money paid to their organizations should have gone to the homeowners –

    One last thing – the reason, that if we do fail to win as homeowners, one must consider the key factor of that failing – Homeowners across this nation and as a whole, blamed the housing crisis on that sector of the homeowners who signed up for loans they could not afford to repay. Had they joined together to show that the actions of the banks was totally unacceptable back in 2005 forward, the banks could never have made such progress. Unfortunately, the homeowners doing well, could not under the issue as a whole – that the banks did what they wanted, when they wanted and now they, along with their attorneys are winning the last lap, maybe.

    . The ony good issue that has surfaced is the fact that we now know we do not have a “rule of law” to protect us,

    I want the best for our country, the best for the businesses who seek the activity of the American people, but most certainly, it is the people from which all of this must exist – where is our voice.

  16. AMAZING…but why should we be surprised by the lunacy of the investigation. The banksters has the government in their hands…bought and paid for by the taxpayers.

    The only thing missing from the 27 page fluff piece they call regulations is the words…. Mommy says

    Ridiculous…..none of these bastards are EVER going to be punished. I hope they all die slow and painful deaths.

  17. it also doesnt address the loan modifications which were made for the sole purpose of creating fresh paperwork. again, in my case it involves the servicer lying and saying they were my lender and holder of my mortgage, then assigning it to a securitized trust that closed 5 years ago through MERS. we did our homework AFTER the mod and learned that our servicer never held our mortgage and was never our lender. they lied, and we fell into it hook, line and sinker. where are the penalties or new procedures for frauds like this?

  18. At what point do people just turn their backs on this viciousness? I mean, there must be a breaking point out there somewhere. I hate to say it, but this is what being on the receiving end of organized crime looks like. Very depressing.

  19. Where is WILLIAM BLACK?? This is so insane I can’t see straight. We r living in a joke of a society. We are infested with liars, greed and deceit. William black can tell everyone very clearly what has transpired. I can’t even think straight as I’m seeing only red. They are the bull and we all are the target – surrounded by clowns. Sick world. What a Sick and corrupted America. Debi

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