“It really does show you, though, left to their own devices, [the banks] no sense of community, no sense of what’s right for our country,” said Pelosi.
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“Just get something so we can turn it into a financial instrument so we can short it or long it or whatever, and privatize the gain and nationalize the risk, both to the taxpayer, to the homeowner, to the consumer, it’s stunning. This is a very big deal.”
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House Speaker Nancy Pelosi and the other California Democrats are calling for an investigation into the foreclosure fraud scandal that has forced the nation’s biggest banks to halt foreclosures in 23 states.
“It just shows the irresponsibility of the banks, so eager were they to securitize those loans they didn’t care almost what they were,” said House Speaker Nancy Pelosi (D-Calif.) in an interview with HuffPost on Tuesday.
Bank of America, JPMorgan Chase, and Ally Financial (formerly known as GMAC) halted foreclosures in 23 states after employees admitted in sworn depositions that they didn’t verify information in thousands of foreclosure documents.
The California delegation sent a letter to Attorney General Eric Holder, Fed Chairman Ben Bernanke, and Comptroller of the Currency John Dugan demanding an investigation into “possible violations of law or regulations by financial institutions in their handling of delinquent mortgages, mortgage modifications, and foreclosures.”
In the Senate, Sen. Bob Menendez (D-N.J.) sent letters to Bank of America, JPMorgan Chase, GMAC, and 117 mortgage servicing companies demanding to know what they’ve done in light of the paperwork scandal. Menendez and Sen. Al Franken (D-Minn.) asked the Government Accountability Office to investigate as well, and Sen. Jeff Merkley (D-Ore.) sent a similar request to Treasury Secretary Tim Geithner and Housing and Urban Development Secretary Shaun Donovan on Monday.
“After all that has transpired in our economy, Wall Street should act responsibly toward and cooperatively with Main Street families,”
Catch the rest here…
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Please don’t underestimate the power of the pen, Don’t forget Rob McKenna and his silver spoon Running for governor in WEashington State.
And no one should underestimate the power of the blogosphere………They are hearing our voices here loud and clear……..MAKE WALL STREET PAY FOR THEIR CRIMES……………..RESCIND THE FRAUDULENT MORTGAGES……………………CLEAR TITLE GOES BACK TO THE HOMEOWNER IF THERE WAS FRAUD COMMITTED ANYWHERE IN THE LOAN HISTORY, AND THE ‘LENDER’ LOST TRACK OF WHO OWNS THE MORTAGE, THEY DISHONORED AND BROKE THEIR CONTRACT WITH THE HOMEOWNER………
To Dance – google April Charney and Matt Weidner, and Matt Gardi in Florida. I think those are right. http://www.livinglies.wordpress.com is also a site with a list of lawyers that “get it”. Hope that helps.
“The California delegation sent a letter to Attorney General Eric Holder, Fed Chairman Ben Bernanke, and Comptroller of the Currency John Dugan demanding an investigation into “possible violations of law or regulations by financial institutions in their handling of delinquent mortgages, mortgage modifications, and foreclosures.”
HAHAHAHAHA LOL>
And nothing happened especially in none judicial states. Foreclosure fraud and illegal filing are happening left and right.
The Banksters are WAY ABOVE THE LAW. and there is nothing we homeowners can do about it, unless a homeowner can find and afford a decent attorney. (Good Luck)
The Banksters know this, and aware of the fact that it has been aknowledged by the OCC and the Treasury as well as Eric Holder AG.
Just ackonwledged, no punishment applied to bankers and they will not be punished, Because they are ABOVE THE LAW.
Bend over American families, these thugs JP Morgan Chase, BofA Wells Fargo, Ally, Citi, will have their way.
They received a letter? So what: do anybody really think these thugs bankers scared? Come on America wake up.
When we will read the headlines in the news in the future:
AMERICAN BANKS MADE 50 MILLION MEN WOMEN AND CHILDREN HOMELESS. even then nothing will happen to these thugs. Even in recent news we could read : The senate threw homeowners under the bus. Revoking the 35 Bill. that would of helped homeowners.
NEED WISE COUNSEL (help!) does ANYONE have current info or insight re: WELLS FARGO not halting foreclosures….ANY effective ACTIONS in SOUTH FLORIDA…..ANY ANY uncorrupted, effective, homeowner defense ATTORNEYS active in MIAMI/ dade FL??? is case w/ WELLS, WATSON, MERS, GMAC, now FANNIE, et al…… IS ANYONE challenging them (effectively?) what is their immunity? and how might HR 3808 impact ability to SECURE CLEAN TITLE to sell home with SOME EQUITY REMAINING? any point in bringing current/reinstating loan and attempting to sell home when has been reported that WELLS will provide, at best, something similar to a ‘quit claim’, and will not assume any liability re: buyer/new homeowner? (= WHAT buyers?) also, any forecasts re: report that the federal government stated that decisions to halt foreclosures is ‘best left to the states’? SOUTH FLORIDA may finally sink into the pits of HELL under the weight of corruption and dirty deals – with county officials leading the way – still taking kickbacks from developers, further devastating honest homeowners. yes, am new to this forum. and all questions based on reports read. future posts will be brief. ANY HELP or GUIDANCE OUT THERE? Very much appreciated.
Does anyone know who the 117 servicers are and is MERS on the list?
RE: HR3808…
This bill doesn’t solve banks problems…if you read that Kentucky “Racketeering” lawsuit, servicing banks can’t be trustees for MBS, so they have no right to foreclose… I strongly suggest reading whole lawsuit posted on this website, to get the scope of the issue…
Just because someone notarizes something, doesn’t mean it’s correct or gives someone right to take someone’s home…it still has to be correct information
If this blows wide open, it will kill stock markets worse than 2008/2009…issues with MBS are much worse for the Wall St. than stalled foreclosures. They are trying to sweep it under the rug, but it’s getting close to point of no return, as it should be…
c
I WONDER IF THE 23 STATES ARE ALL JUDICIAL STATES? IN CALIFORNIA, THEY HAVE NOT RECORDED ASSIGNMENTS, WHERE AS IF WE DID THAT THE COURTS WOULF LAUGH US OUT OF COURT.
HERE,WE ALL BAILED OUT FRAUDLENT BANKS, AND THEY ARE SHAFTING THE PUBLIC. IT IS NOW SEEN HOW THE MODIFICAN PROCESS WAS A SCAM, AS A CLIENT OF MINE WAS FORCLOSED ON, AND MOST PEOPLE ARE AS SOON AS THE LENDER CAN CHECK THE BOX SHOWING THEY TRIED TO MODIFY. IN MOST CASES, THE MODIFICATIONS HAVE HIGHER PAYMENTS THAN THE CURRENT PAYMENT.
WE ARE LOANING $$ TO MEXICO AMD BRAZIL IN THE TUNE OF 2 BILLION DOLLARS FOR THEM TO DRILL DEEPWATER OFFSHORE, WHILE OUR GUYS ARE GETTING THE SHAFT!
WISH SOMEONE WILL SHOW AVERAGE JOE THE AID WE GIV AND TO WHOM? WE SHOULD BE TAKING CARE OF OUR OWN TAXPAYERS AND MILITARY. TIMMER
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Arizona is non judicial and there is nothing in the works for us here! We are so corrupt. I am praying that some miracle happens for us………
Leapfrog-
I wouldn’t be surprised if they did.
Corruption !!!!! Bankers are illegally using fraudulent papers to steal people’s home. I think everyone should understand why this is not just a problem for the homeowners that are fighting foreclosure, this is everyone’s problem. When your judicial right is taken away who or where can you turn to?
We need to clean up the corruption from bottom up.
I wish the media would stop sugar coating the real issue, the problem is not just the robo-signers not verifying before signing, the real core issue is the fraudulent papers fabricated by foreclosure mills and companies like LPS…
Lucy
Well if they pass their bill, HR 3808, won’t that take care of their problems? Then it can be neatly swept under the rug and no more investigations. MERS, big banksters, the doc mills and foreclosure mills will be back to “business as usual.” Of course, there’s just those nagging, few tiny pieces of the puzzle…among them, FRAUD and the fact these securitized mortgages were never properly “securitized”.
What’s next? The “The Pretender Lender Fraud Forgiveness Act?”
What’s next? The “The Pretender Lender Fraud Forgiveness Act?”
LOL ….sorry, that was funny…….
We the people just need to keep the heat on the banksters, if enough of us get together and sound off we can make changes……keep fighting!!!!!!