Foreclosure Fraud Panel One Hearing Testimony – Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing

Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing

Date: November 18, 2010

Time: 10:00AM

Location: 2128 Rayburn House Office Building

Witness List & Prepared Testimony:

Ms. Phyllis Caldwell, Chief, Homeownership Preservation Office, U.S. Department of the Treasury
The Honorable Elizabeth A. Duke, Governor, Board of Governors of the Federal Reserve System
The Honorable David Stevens, Assistant Secretary for Housing and Federal Housing
Administration Commissioner, U.S. Department of Housing and Urban Development
Mr. John Walsh, Acting Comptroller of the Currency, Office of the Comptroller of the Currency
Mr. Edward DeMarco, Acting Director, Federal Housing Finance Agency

Full testimony below…



Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing

5 Responses to “Foreclosure Fraud Panel One Hearing Testimony – Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing”
  1. Zion says:

    I didn’t like Maxine Waters, until this hearing. Either she is a total fake, but good actor, or she’s digging for real answers and asking relevant questions to get them. I particularly liked her comment that she was frequently reminded that the people in foreclosure were deadbeats trying to get a free house. She retorted, “No one can tell me that millions of Americans became deadbeats at the same time. SOMETHING happened. I want to know what that was.”

    I think she made an astute observation. And I think when homeowners not in foreclosure wake up and see how these foreclosures uncovered the biggest fraud of all time and that the fraud affects them as well, they will join the fight. Homeowners fighting foreclosure should be our heroes for fighting for their Constitution-provided property rights and due process. If they lose these rights, then every American loses his or hers. The outcome here is very serious.

  2. kravitz says:

    Barney, honey…

    Yess, Miss Frank. I mean you, girlfriend.

    Why are you in such a rush to foreclose? I suggest you tell me and the rest of us how much money you have personally tied up in the success or failure in the banks and hedge funds right about now.

    That’s the only logical explanation for a guy from a state where “RE-FORECLOSURE” has become the word of the year.

  3. Lit Gant says:

    All these hearings have one purpose: To white-wash the fraud, give the appearance of investigation when it is all a dog and pony show with legislators making it appear they are concerned.

    The fact is, until there is a call for arrests, for convictions, for investigations concerning obstruction of justice, IT IS ALL NOTHING BUT Congressnauts doing their part in the rocket-docket.

    I am not convinced these hearings are going anywhere. I heard Dodd say they already had over 60 hearings as far back as 2007, and yet out of all these sham-proceedings nothing of substance has come forth. The American people have put trust in falseface politicians. I warn every American in foreclosure: do not put your hope in Congress or Obama. There is no fairness coming from Washington. If you want equity and justice, seek it on the street level. File complaints and law suits against the appraisers who conspired with the predatory lenders. Yes, go back and get the name of the appraiser on your purchase or refinance. File a complaint against this appraiser and his license with the state regulatory board that issues the appraiser’s license. You can allege he conspired with lenders and falsified the appraisal to make sure the loan was accepted in the subprime markert. Sue the lender and if it does not exist, seek the mortgage be resinded under TILA.

    File law suits against the plaintiff or who ever is trying to foreclose on you. File suits to have summary judgments set aside. File bankruptcy. Put every kind of stumbling block you can in the court system until you can get justice. Use your mortgage payment money to pay attorney fees and cost to stop this mess.

    For those who will not win, do not give up hope. For the rest of your life vote against every Republican who voted FOR THE NOTARY ACT. As a Republican I will not stand for my party voting for fraud. I will re-register as an Independent. I recommend all Republicans in foreclosure do the same thing. Go online and re-register. DO IT RIGHT NOW! Why stand by a party that voted us out of our houses? It is insane to stay in the Republican party. Make them pay in 2012. That said, do not join the Democrats either. Make all of them come begging in 2011. And if there is no justice, then in 2012 vote out all who will not stand for justice.

    God bless America, and may its people stand up and demand their homes back.

    Lit Gant

  4. kravitz says:

    She’s swearing in the banksters!They’re under oath! If they lie to her…..


  5. kravitz says:

    Waters beats them up about the fact these government agencies have done nothing to show they are serious that the banks help customers. No fines, penalties, nothing.

    Since about 11:30, she has been ruthless!

    Maxine Waters 2012?

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