Whistle-Blower: Citi Defrauded Fannie and Freddie — How About Borrowers?

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EDITOR’S COMMENT: Once again, we have acknowledgment that one of the major bank was behind the de-underwriting of loans, certifying that they had conducted all due diligence and analysis, reviewed the data, obtained there own, when in fact none of that ever happened.

And once again, the story stops at Wall Street without considering the effect of the revelations on the loans themselves. If Citi intentionally wrote bad loans and then misrepresented them to Fannie and Freddie how does anyone stop before asking about the impact of the obvious violation of truth in lending laws?

Let me spell it out. If Citi wrote a loan it knew would fail and did not conform with Fannie standards, then it had no source of funding and the loan should not have ever happened. That sounds like rescission territory to me and more than that, rescission with no defenses. Why isn’t the headline “Borrowers Defrauded by Citi”?

How can anyone stick with this blame the borrower narrative that the banks have spent so much money on in getting the “message” out? And if Fannie and Freddie are victims of improper loan underwriting why do we not consider the borrower to be a victim of improper loan underwriting?

http://news.businessweek.com/article.asp?documentKey=1376-LZRVYJ07SXKZ01-0QPPTOEPUIV8O0RNA4GCK0SOTC

Citigroup ‘Defrauded’ Fannie, Freddie, Whistle-Blower Says

February 22, 2012 2:28 PM

(Adds Hunt’s share of settlement in fifth paragraph.)

Feb. 22 (Bloomberg) — Citigroup Inc., which last week admitted breaking Federal Housing Administration rules and paid a fine, also violated regulations for home loans sold to Fannie Mae and Freddie Mac, according to a whistle-blower’s complaint.

The bank “defrauded, falsified information or misled federal government entities” by selling or securing insurance for mortgages with defects such as improper appraisals and not reporting them as required, Sherry Hunt, a Citigroup quality- assurance vice president, said in her complaint, which was unsealed yesterday. It was filed under the False Claims Act in federal court in Manhattan in August.

Hunt’s charges formed the backbone of the U.S. Justice Department’s case against Citigroup, which paid $158.3 million in a Feb. 15 settlement and admitted that it certified loans for FHA insurance that didn’t qualify. Her complaint provides additional details into the bank’s broken mortgage-processing system. In last week’s agreement, the government reserved the right to pursue criminal and other charges related to mortgages originated or underwritten by Citigroup and not insured by the FHA.

“Everyone is a little bit guilty for not keeping an eye on the processes and doing what we should have been doing,” Hunt said in a telephone interview from her home in Silex, Missouri. “Managers have to take ownership of their area, know what’s going on and make sure they’re doing the right thing.”

Loans Repurchased

As a whistle-blower, Hunt’s share of the settlement will be $31 million before taxes and attorney’s fees, she said in a Feb. 15 interview.

For Citigroup, the third-largest U.S. bank by assets, the high defect rates could be costly. It might be forced to buy back substandard mortgages sold to government-controlled Fannie and Freddie, who buy or guarantee most U.S. mortgages.

Last year, Citigroup repurchased 6,600 loans from government buyers, an 89 percent increase from 2010, according to a presentation on its website. The bank set aside $1.2 billion to buy back defective mortgages as of the end of 2011. That’s the most ever, and up from $969 million in 2010.

“We take our quality-assurance processes seriously and have pro-actively undertaken process improvements to ensure that they are as strong as possible,” Sean Kevelighan, a Citigroup spokesman, said in an e-mailed statement.

Andrew Wilson, a spokesman for Washington-based Fannie Mae, and Chad Wandler, a spokesman for McLean, Virginia-based Freddie Mac, declined to comment.

Flawed Mortgages

Hunt said Citigroup knowingly vouched for the quality of loans that were “deficient” in income documentation, had incomplete borrower job histories, appraisal problems, errors in closing paperwork, missing credit reports and miscalculated maximum mortgage amounts, among other flaws.

Some managers’ compensation was tied in part to reducing the defect rate, Hunt said.

CitiMortgage Inc., Citigroup’s home-loan unit, is run by Sanjiv Das, who was hired by Chief Executive Officer Vikram S. Pandit, 55, in July 2008. Das reports to consumer-banking head Manuel Medina-Mora and Eugene McQuade, head of Citibank N.A., the bank’s deposit-taking unit. Both Das and Pandit are former Morgan Stanley executives.

During an April 7, 2010, meeting with Freddie Mac executives at the main Citigroup mortgage-processing facility in O’Fallon, Missouri, Mike Mazanec, head of CitiMortgage’s Fraud Prevention and Investigation unit, said all loans flagged for possible fraud were resolved within 15 to 30 days — “a false statement,” Hunt said in the complaint.

‘Systemic Failure’

In fact, in a list of about 1,000 loans referred to the fraud unit because they were suspected to be fraudulent, many were more than a year old and some were eventually erased from the Citigroup computer system, according to Hunt’s complaint.

Attempts to reach Mazanec for comment at a telephone number listed under his name were unsuccessful.

Hunt cited an “overall systemic failure” in her complaint that she said in a May 2011 letter to the Securities and Exchange Commission “threatens the thin ice the entire market is treading on.” The letter was also released yesterday.

For certain types of home loans, Citigroup’s “defect rate” — the rate at which the underwriting raised questions — was 80 percent, said Hunt, 54.

Taxpayer Lifeline

Fannie Mae and Freddie Mac have survived on taxpayer aid since September 2008, when losses from failing home loans forced them into government conservatorship.

Since then, the companies have drawn more than $180 billion from a U.S. Treasury Department lifeline. Today, they guarantee about $100 billion worth of new mortgages a month, about three- fourths of all single-family home loans.

Hunt said she was hired by Citigroup in 2004. She said she worked for Richard M. Bowen III, the former Citigroup underwriter who testified in April 2010 to the Financial Crisis Inquiry Commission, the panel created by Congress to investigate the causes of the 2008 financial meltdown.

The case is U.S. ex rel. Hunt v. Citigroup Inc., 11-cv- 005473, U.S. District Court, Southern District of New York (Manhattan).

–With assistance from Bob Van Voris and Donal Griffin in New York and Lorraine Woellert in Washington. Editors: Anne Reifenberg, Peter Blumberg.

25 Responses

  1. @enraged – forget reading a doc at scribd – download and then read

  2. Get a load of this! Our morgage was sent to us from the V.A. Apparently “This Mortgage is not Assumamable without the Consent of the Dept. Of Veterans Affairs”. We also had title insurence. This was in 2005. The originator tried to securitize the loan (probably did) it was given a min #. We knew nothinfg of this and after refinancing (to build a fence), the games began. So I went to the County Recorders Office appoxamately 4-6 months ago to find out how Countrywide/BOA had our mortgage, and much to my surprize there was a 1) “Satisfaction of Mortgage”, 2) a certicate stating “Loan Paid in Full”, #3 A “Release of Mortgage” from title insurer. My original wet ink “Affidavate of Title/Bill of Sale” signed in blue ink. This was all done through Wells Fargo. My guess is that there was securitization fail as the min. was “deactivated” off of ther MERS system also and the “Satisfaction of Mortgage included MERS name. These documents were dumped in the Recorders file with no notice to us. So 7 years later , no notice of default, just BOA wearing their collectors hat trying to collect. What happened to the 36k we put down? I have notifyed our insurance co. and made copies to send to the treasurers office to send our tax bill directly to us. The recorders office confirmed their is no lein , the Dept of Veteran Affairs confirmed loan paid in full and yet BOA is still climbing up our asses, and everyone else wants to modify our non-mortgage. We bought a safe and are keeping the bare min in our bank. and just waiting to see what happens next.ur almossst 100 yr. old dream house turned into our nightmare house. We have Alllstate and know they are already pissed off because they got screwed by Countrywide and are sueing them for fraud. They are not as nice as they used to be. Oh well I guess maybe we should sell, or quit claim it to our grandkids or something. The originator told me that they only keep their records for a certain amount of time and ours were destroyed, sounds like they didn’t want to mess with the Feds over a VA loan. The broker became the lender and immediately signed it over to MERS as nominee. I think that is what happened. If they don’t have records How can BOA even complete chain of title.
    I did through my own investagation, but I keep getting stuck on the securitization part. Looks like “securitization fail”, which I read on your site Neil, Thanks for all you do, you sure have educated me inso many ways. By the waty TheFirst Mortgage Corp. is the brokers name and First American title is the insurers name. I loooked them up on the Recorders web site and they have done this thousands and thousands times (same way) my neighborhood is full of foreclosures. No info available from States Atty., Recorders office. The silence is deafening. What a shame. I even offered my services at the Recorders office if and when they want to look into the fraudulent practices of “THE FIRST MORTGAGE CORPORATION”. I guess I need an audit and quit title action.

  3. Yes hman, AZ gave them what they wanted. And in November, the MI Supreme Court in its infinite wisdom decided to overturn a very well thought out ruling that questioned the legality of thousands of foreclosures, pretty much ordaining MERS, even though anyone and everyone who can walk upright know that MERS is a criminal organization guilty of RICO infractions, just for starters.

    And that MI ruling as well as the MN Supreme Court ruling before that that also ordains MERS were both written by…who else….MERS! And our legislators were simply paid to pass the bills and now…. they hear nothing….see nothing…..care about nothing but re-election.

    The 99% Declaration – IT’S THE ONLY WAY

  4. In AZ it’s really bad. In Cervantes versus country wide the AZ Supreme Court in all it’s wisdom reasoned that AZ statute do not require assignments to be recorded prior to foreclosure. They also said the borrower is notified via trustee sale who the correct party to modify the loan is. I can’t make this stuff up. Even the AZ attorney general wrote in favor of the plantiff.

    Now there is another landmark case in Hogan versus Washington Mutual. It is being plead by a 3rd year law student? Yup. The certified question that they are answering here is whether homeowners can challenge the authority of a lender or other foreclosing party to sell their house. More specifically does the trustee have to own the security insturment to foreclose. Seriously. I don’t yet know the verdict to this case.

  5. @All,

    It’s coming down, one way or the other. Look up the list of the heads that have rolled worldwide below and you’ll see that it is coming down.

    All we can do, right now, is hold our respective fort and fight. The US appears to be the only reluctant party to the global clean up. It’s going to be cleaned up, one way or the other.

    @Ian,

    I didn’t mean to brush you off but looking at the big, worldwide picture, it suddenly became obvious that we are running completely counter to what is going on in the world. It can only last so long before it crumbles. Viewed under that angle, we have to resolve to look at it as a sick game played on us by our own government and banks whose rules are hidden from us, the American people, but those rules will become clearer and clearer in the months to come. The resolution of this atrocious situation is coming. All we can do is fright today’s fight. Trying to understand the what from the where and the how becomes an exercise in futility. And, Ian, my house is on the line too. But somehow, the fear is completely gone.

    Most questions asked here are relevant and pertinent. Your TARP question is as well. The thing is: even though we ask the right questions, no one wants to hear them. I truly and firmly believe that, for the time being, we need to focus on the questions that work. I think we all need to go back to basics and ask ourselves: “What are the lawsuits and/or arguments that have, thus far, better served the homeowners and allowed them to keep the house and discharge the “debt”. And then, we need to stop wasting time running after every rabbit and concentrate, instead, on setting up a good attack or a good defense.

    My take on it but once you get there, all of a sudden, you regain incredible perspective.

  6. @ L Dean,

    It’s not just the great state of Texas, it’s all across the land. It’s a bigger land grab than the 19th century ever saw. The ones you mentioned; Recontrust, AWL, B of A, BONY, they, along with all the others are all simply planting stakes where borrowers used to ply their trades, where they used to send their kids off to school, where they went to church…..these and the other too big to fail banks are now the majority land owners of America.

    What can L Dean do about it?

    Write your legislators. Uhm, I hate to be the bearer of bad tidings, but half of them are trying to figure out what role women’s vaginas should play in their lives, while the other half are pricks just trying to stay out of trouble until their hoped for re-election occurs. Lay-Low governance.

    Contact the OCC. They’ll be happy to simply re-lick the envelope and send it off to the bad actors you identified in your letter. It’s very much like complaining to the commandant about the conditions in your stalag. Good luck with that.

    Hire an attorney. I’m sorry, I just spewed coffee on my monitor just rehashing old experiences with this concept! Foreclosure defense perfectly defines the old gag, “99% of attorneys give the rest a bad name!” The vast majority have no clue. One I spoke with, and I swear on dear old Mammie’s grave that this is true, after our introductions this guy then asked with an authoritative voice, “Now which one again is the mortgagee, and which one is the mortgagor?” I glanced over at his letter opener and kid you not…. if I could have reached it; I would have needed another flavor of attorney, a bail bondsman, and likely one of those hockey masks and hand trucks like they used on Anthony Hopkins.

    Contact NACA. They loved the AG settlement and will tirelessly work towards continuing the fraud through modifications with people who have as much right to modify your loan as I do. Come to think of it, contact me, I’ll give you a screaming deal.

    Contact the Treasury Department. After all, it was their Consent Order that threatened stiff consequences if certain illegal conditions were not remedied. Oh wait….there seems to be some confusion as to whether or not the banks were actually supposed to act upon the consent orders, since none of them have. Check back in the next year or so. Maybe 2020.

    Other than the above, take your place at any of the foreclosure blogs where in four minutes you’ll uncover more fraud than Eric Holder’s staff has been able to find since taking office going on four years ago. And then you’ll share horror stories with all of your forum-mates until they drop off one after the other into the inevitable black hole that comes with the wifi-less lifestyle that is tent living. Whoever would have thought hoping for change would mean looking under couch cushions?

  7. Well, knowing what we know about these repurchased loans, where does it leave the poor borrower? There are seldom any assignments recorded, the loans were just keystrokes where no money changed hands, and they were traded around among the reserve system’s member banks as many as ten times apiece. Does the borrower now have to shell out money for an attorney and sue to quiet Title, and try to get discovery out of one of the entities squeezing the last drop of blood from the system? Banks are STILL winning in court because of the conflicts of interest and the “free house” mantra they’ve indoctrinated the uninformed public with. What do the borrowers whose loans were crap and have been repurchased do?

  8. Enraged/Abdulla- my question yesterday, “Does anybody know why servicers/debt collectors received TARP money, when all they are doing (purportedly) is collecting debts for third parties?”
    This is important, as the people overseeing TARP must know that,
    1. Alot of the servicers’ “loans” they are “servicing” are charged off debt, (false collection rights to defaulted debt, ala ANONYMOUS which they, the servicers, OWN. As such, they are unsecured.
    2. The major servicers are either the banks themselves, or wholly owned subsidiaries of banks, or investment banks.
    3. The TARP overseers would also know that under all PSAs, whether the trusts exist or not, the servicer has to advance the borrowers’ payments whether they (the borrowers) pay or don’t pay. So the servicers have to be kept afloat, to maintain appearances of legality.
    4. Normal debt collectors who are not ‘mortgage servicers’ didn’t get a dime from TARP. The reasons are evident. Keep the balls in the air and deny everything.

  9. meanwhile the middleclass that were are short selling they cant be bothered or they cant afford to litigate or they lost their job anyway… when everyone starts fighting out of utter frustration from spineless leadership, will they ever truely know why
    isnt that what goldman sachs wanted, a big distraction

  10. Every financial institution in the mortgage business is doing the same thing!!!! It Is called the “GSE Business Model”.

    If you think that the GSE’s Fannie and Freddie did not know what was happening and is happening, you must believe in Santa Claus. The Model was authored by Fannie who is operated by remote control by its contractual partners (banks) who are now all sucking on the big tit………….courtesy of the taxpayers.

    This is what a prosecutor would call “A simple theft by deception scheme……with the taxpayers as victims”. It is not rocket science, all you have to do is follow the money!

  11. Why, please tell me why nobody is going after Bank of New York.
    In Texas all of the homes that are being for closed on in Harris County TX are being foreclosed by Recontrust/Bank of America, The document that is signed in Harris County by Robosigners reads
    for example Signed by Mercedes Judilla – Assistant Secretary of Mortgage Electronic Registration Services, on behalf of America’s Wholesale Lender but if you look on the Harris County Appraisal District, the homes were given back to Bank of New York. Recontrust
    website says the homes were sold to the Beneficiary. Would somebody please research this? I do not think anybody realizes what a huge player Bank of New Yorks role is in these foreclosures. If you write to Bank of New York or MERS, they will sign the Certified Mail receipt but nobody will respond. MERS and Bank of New York have no interest in the property and MERS /Bank of America has foreclosed using robosigning in Harris County with documents as recent as January 18, 2012. Please will somebody look at the information I am flooding you with and tell me what is going on? http://www.recontrust.com
    go to Texas, go to Harris County, open up homes sold, look at all of the homes sold to Beneficiary. Now look at how many more homes are up for foreclosure between March 6, and April 3 which is next schedules for Substitute Trustee’s sale. Now, go onto hcad.org and look up reasearch by property, look at the top of the page and type in Bank of New York, look at how many homes Bank of New York has taken over just since January 2012, Even look at the homes foreclosed under the name of MERS. Folks, something is wrong and I mean very wrong. Yesterday Bank of America was out here at my house taking pictures to post on internet. These people are crooks.
    On and by the way the people who come out to take pictures of your home have a sign on their vehicle which reads CTC Real Estate
    my son took pictures of the vehicle. as we all know CTC real Estate is also listed as a Grantee on the deed of trust. America’s Wholesale Lender is lender; CTC Real Estate and Mortgage Electronic Registration Services as nominee and beneficiary for successors and assigns.

  12. I wrote my lender alleging underwriting defects in my loan. They responded saying that they had no knowledge and did no wrong doing.

    OK make sense since they are not a party of interest to the contract. Anyway, about 3 months ago they sued my original lender for breach of contract and among other things underwriting errors & misrepresentations. WTF? First they tell me they have no knowledge then they sue the broker for the things they have no knowledge of?

    To be fair the party suing the originator was Lehmans. Lehmans requested the originator repurchase the loans. So they want an company out of business since 2008 to repurchase a handful of loans?

    I went down to my court house to get copies of the case. Especially the complaint. They didn’t have the Verdict available for view or in PDF. Hmmm? So I don’t know what the outcome was? At least it’s a piece of info I can use to show they have knowledge of the defects.

  13. Here is the list of all those resignation. The names can be found on the link I posted earlier.

    These resignations have appeared in the trade press, mainly, as individual stories. No mainstream media journalist, yet … and for obvious reasons, has attempted a pull together of all of this …. So we can make a start here:

    •1: ROMANIA ~ Romanian prime minister and cabinet resign en masse.
    •2: GERMANY ~ Embarrassment for Merkel as German president resigns in disgrace
    •3: SWITZERLAND ~ Bank chief resigns over £1.5bn rogue trader crisis.
    •4: CHINA ~ The top executives of two of China’s biggest banks resigned Friday.
    •5: INDIA ~ 22 out of 25 directors of top Indian bank, BDCCB, resign.
    •6: SWITZERLAND ~ Switzerland’s biggest bank said Yasuki Matsui resigns as chairman of the investment banking division in Japan
    •7: IRAN ~ Iran’s Bank Melli CEO resigns over biggest loan scam in Iran’s history.
    •8: SWITZERLAND ~ The Swiss National Bank chairman has resigned abruptly, bowing to a public uproar over private currency deals.
    •9: BRITAIN ~ Lloyds Head of Wholesale quits.
    •10: SPAIN ~ The head of operations in the Americas for Spain’s biggest bank Santander resigned on Wednesday.
    •11: ROME ~ Four priests charged in Vatican banking scandal.
    •12: INDIA ~ Tamilnad Mercantile Bank MD resigns
    •13: KUWAIT ~ The head of Kuwait’s central bank of more than 25 years has resigned, state media said Monday
    •14: NICARAGUA ~ Nicaragua’s Central Bank President Antenor Rosales quit amid differences with President Daniel Ortega
    •15: BRITAIN ~ Malcolm Hayday, CEO and one of the founders of Charity Bank, has decided to step down from the post this year.
    •16: GLOBAL ~ World Bank President Robert Zoellick said Wednesday he is stepping down
    •17: SLOVENIA ~ Slovenia’s Two Biggest Banks’ CEOs Step Down as Woes Mount.
    •18: SAUDI ARABIA ~ Saudi Hollandi Banks Managing Director Geoffrey Calvert has resigned
    •19: AUSTRALIA ~ Stephen Williams quits his role of leading Royal Bank of Scotland’s Australian arm.
    •20: RUSSIA ~ The head of supervision at Russia’s central bank has resigned after series of scandals & massive mismanagement
    •21: AUSTRALIA ~ Kevin Rudd resigns as Foreign Minister, condemns Julia Gillard’s silence (but may not be connected to banking scandal).
    •22: US: Two top Morgan Stanley investment bankers resigned today, increasing the pressure on Chief Executive Philip Purcell and raising questions about whether the securities firm can remain independent.
    •23: INDIA ~ Amitabh Chaturvedi quit as managing director and chief executive officer (CEO) of private sector lender Dhanlaxmi Bank Ltd on Monday
    •24: NEW ZEALAND central bank Governor Alan Bollard will quit in September
    •25: UK: Three senior investment Royal Bank of Scotland bankers were among the 16 individuals arrested last week as part of an investigation into allegations of tax evasion involving film financing schemes.
    •26: CARACAS — President Hugo Chavez lost one of his closest and oldest collaborators as Science and Technology Minister Jesse Chacon submitted his resignation after his brother was arrested in connection with the crisis in which state control has been imposed on six banks.
    •27: SWITZERLAND ~ The Swiss National Bank said Friday its council president, Hansueli Raggenbass, has decided to leave later this year
    •28: GHANA ~ Investment banker, Ken Ofori-Atta has stepped down as the Executive Chair of the Databank Group.
    •29. UK: Senior private banker resigns from Coutts.
    •30: FRANCE ~ Michel Péretié, head of Société Générale’s corporate and investment banking division, is leaving the French bank to pursue other opportunities
    •31: UK ~ CEO Nick Fletcher leaves private bank Saunderson House after 22 years with company and 15 years on board.
    I’ll try to keep this list updated with new information as events unravel, although it’s moving very fast.

    In the meantime, hang on to your hats, dear friends, for I think we’re about to enter some ‘interesting times’!

  14. Humor – HOW TO START EACH DAY WITH A POSITIVE OUTLOOK
    (chuckle) HOW TO START EACH DAY WITH A POSITIVE OUTLOOK:

    1. Open a new file in your computer.

    2. Name it ‘Barack Obama.’

    3. Send it to the Recycle Bin.

    4. Empty the Recycle Bin.

    5. Your PC will ask you: “Do you really want to get rid of “Barack
    Obama’?”

    6. Enjoy clicking your answer!

  15. UN-BE-LIE-VA-BLE!!!

    Bankers and governments resign all over the place, including in… Vatican! because of financial scandals but… our bankers get promoted to key position within our own government. Isn’t that something???

    http://jhaines6.wordpress.com/2012/02/21/a-double-list-of-bank-resignations-from-rumor-mill-news-reading-room-as-listed-on-httpnesaranews-blogspot-com/

  16. @Abby,

    Scribd is paaaaaaaiiiiiiinfully slow. Any idea what to do to speed it up? That doc has 71 pages but i couldn’t even scroll down…

  17. @Nabdulla,

    I already answered.

    “….Anybody know why servicers/debt collectors, who “service mortgages for trusts and investors” are receiving TARP money?”

    Because… everybody is, except homeowners. Homeowners are there to make it so everyone else can enjoy it. Now get back to work! 🙂

  18. @ All
    Ian, on February 21, 2012 at 5:19 pm asked the question:

    “….Anybody know why servicers/debt collectors, who “service mortgages for trusts and investors” are receiving TARP money?”

    Will someone PLEASE answer this question for me. Thank you. 🙂

  19. abby

    thanks for the post. the justices mention the bank/closing agents deciding to split for instance a title insurance fee after they decided to just use the old title insurance. mmm. i wonder where i have seen that???

    THANKS

  20. Tammy Freeman v. Quicken Loans -Oral Args Transcript at the US Supreme Court re: RESPA

    http://www.scribd.com/doc/82506786/Tammy-Freeman-v-Quicken-Loans-US-Supreme-Court-Oral-Argument-Transcript-of-2-21-2012-Case-10-1042-Re-RESPA

  21. If the borrower should never have had the loan and fannie sues to put back the loan or recover damages from the originator then how the heck is this flawed loan enforceable?

    Has to be rescission and not the timed out BS TILA rescission. Should just be contract rescission. I don’t know the terms, but if originator did not meet Fannie contract specs to sell the loan then originator did not meet review/fiduciary specs to provide the loan to borrower.

    Title moves both ways. Money moves both ways. You can’t have fraud at the investor end without fraud at the origination end.

  22. why the heck do they think this is isolated to citigroup???? they all did this come on wake up. what about wells fargo

  23. @Java,

    Well, the rope is getting longer by the day. You shall get your wish, my friend! Can’t promise when but it’s coming!!!!!!!!!!!

  24. i have not evne read the whole blog all i read was de-underwriting and citigroup snd i just want to vomit!!!! my sister had one of thos loans. 2 years ago when i found all these web sites and the wonderful people on foreclosure hamlet taught me how to research my own loan info i started getting curious and wanted to check out what happened to my sister. she had 2 foreclosures down in south florida. One she just walked away because her loan adjusted to 2300/mon her entire salary the other house was part of a quick claim deed scam. a co worker/ respiratory therapist in hollywood florida had his real estate license and worked fo rhtis broker that said he was buying my sisters home.. had no reason not to trust right. so she went to closing to buy her new house and sell her old one. double closing. she thought it was a regular closing she signed off on on e house and then closed onthe other. her old home was quick claimed to the broker and the new house he put a 40k baloon with 13% intrest to pay back if she sold. there was about 50k equity she did not collect from “selling” the old home. months down the road she finds out both mortgages are still in her name and he quick claimed her house 2 more times. her new home she adjusted and she left and then her old home was foreclosed on as well. now my sister is a widow and they did this to her. so fast foward i was doing research noticed in my own foreclosure wells fargo has been my servicer but i have no assignments i wonder if my sister has one. so i look up her to properties and there listed as owner of one of properties in citigroup, the other was chase. her assignment has that robosigning guy from largo , florida brian and the notary in california. she didnt knoe back then she could fight this fraud. stealing homes like thisis a crime. we tried many times to report htis guy and never could get anywhere… so sad for americ i will go back and read the blog now. if anyone knows a lawyer in south florida hollywood/pembrokes pines area/ miramar and want to take my sisters case pro bono or at least if my sister get her properties back and sell she can pay. would be great. this needs to be dealt with and people go to jail. you can reach me on foreclosure hamlet i am saving myhomein florida. and yes i am. i have great lawyer team all good.thaNKS EVEYRONE WHO CAN FIND MY SIOISTER A LAWYER TO HELP HER.

  25. Hang Vikram Pandit

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