Fraudclosures | Federal Reserve: They Broke The Law (via Foreclosure Fraud – Fighting Foreclosure Fraud by Sharing the Knowledge)

On By southwerkIn business ethics

For about seven months now, I have argued over and over again that lying to the courts with false affidavits and actions amounting to fraud were prosecutable. I have used the word, crimes, and I meant it.

Why is it that if one of my students breaks the law by stealing a few dollars that he will go to jail and these banks can commit these acts and reap huge profits without fear of prosecution?

I want these law-breakers, these greedy well placed fraudsters, to go to jail, to do the perp walk, to pay enormous fines, and to serve as a warning to every Armani clad crook haunting the board rooms of our great investments banks.

James Pilant

My thanks to “Foreclosure Fraud – Fighting Foreclosure Fraud by Sharing the Knowledge.”

Fraudclosures | Federal Reserve: They Broke The Law The Market Ticker – Federal Reserve: They Broke The Law but nobody cares…. (including us) The reviews found critical weaknesses in servicers’ foreclosure governance processes, foreclosure document preparation processes, and oversight and monitoring of third-party vendors, including foreclosure attorneys.While it is important to note that findings varied across institutions, the weaknesses at each servicer, individually or collectively, resulted … Read More

via Foreclosure Fraud – Fighting Foreclosure Fraud by Sharing the Knowledge

2 thoughts on “Fraudclosures | Federal Reserve: They Broke The Law (via Foreclosure Fraud – Fighting Foreclosure Fraud by Sharing the Knowledge)”

  1. Marianne

    I am presently going through a foreclosure although I am attempting to save it.  I will lose a considerable amount that I actually put down ( 700k) if i lose my house.  I only owe 400k. I have proven that I can make the payments for 9 months now but they have still denied a loan mod.  It turned out that one of the sources of income, well they didn’t think was ‘sustainsble’.  The loan payment in the end can be reduced to 33% of my income. Yet they require that I make a certain amount to be approved.  They repeatedly ask for documents that Ive sent them numerous times.  Every time I call it’s a different story.  I keep getting denied.  If they auction the house, it is worth more than the loan so they are antsy to sell it. I will literally lose everything.  What is worse is I can’t place it on the market because I will then no longer qualify for a mod.  I simply must make more money, prove it AGAIN, or give them the full amount plus attorneys fees.  I have used every option and honestly they won’t even tell me what I need to make every month to qualify. I would attempt to take then to court, but I simply cannot afford an attorney.  And people wonder why suicide rates have risen.

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  2. Pingback: Matt Gardi | Key West News – Untangling the Foreclosure Mystery (via Foreclosure Fraud – Fighting Foreclosure Fraud by Sharing the Knowledge) « Raleigh Mortgage Guy

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