Where is the OUTRAGE? Fed Report Finds No Wrongful Foreclosures By Banks BUT JPMorgan Disagrees

Definition of Wrongful Foreclosure

“Repossessions of borrowers’ homes who were not significantly behind on their payments.”

Based on that definition — the homeowners were already in default — the Fed found the foreclosures to be justified, members said.

OF COURSE THEY ARE IN DEFAULT. THE QUESTION THAT NEEDS TO BE ADDRESSED IS WHY!

EXAMPLES

Escrow Manipulation

Forced Placed Insurance

Misapplied Payments

Junk Fees

HAMP

Loan Mod Lies

Told to Stop Paying

Servicing Errors

I can go on and on. These are well documented issues.

And do you know how many loan files the fed examined for this report?

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500!

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Fed Report Finds No Wrongful Foreclosures By Banks, Consumer Advocates Slam Methodology

WASHINGTON, D.C. — A months-long investigation into abusive mortgage practices by the Federal Reserve found no wrongful foreclosures, members of the Fed’s Consumer Advisory Council said Thursday.

During a public meeting attended by Fed chairman Ben Bernanke and other regulators, consumer advocates on the panel criticized federal bank regulators for narrowly defining what constitutes a “wrongful foreclosure.” At least one member of the panel voiced concerns that the public would not take the Fed’s findings of improper practices seriously, since the wide-ranging review did not find a single homeowner who was wrongfully foreclosed upon.

The Fed’s findings seem to support claims from the banking industry, which has admitted to sloppy practices but has maintained that the homeowners whose homes have been repossessed were substantially behind on their payments. The Fed’s report has not been released to the public.

If you have the stomach for it, you can check out the rest here…

If I can get my hands on the report I will put it up…

How can the fed produce a report like this when JP Morgan just admitted they were wrongfully foreclosing on Military Families? They even had CONgressional hearings on the WRONGFUL FORECLOSURES? And yes, these “DEADBEAT” Military families were “significantly behind on their payments.”

From the WSJ

J.P. Morgan Acknowledges Wrongful Military Foreclosures

NEW YORK—J.P. Morgan Chase & Co. admitted that it wrongly foreclosed on 14 active-service military families and overcharged thousands more on their mortgages, a continuing internal bank review has found.

So, if the banks didn’t give a s*** about military members with multiple protections from foreclosures, let alone  “wrongful foreclosures” how do you think they fair against the “civilian population.”

This is just completely OUTRAGEOUS!

They are just trying to convince the public that everyone facing foreclosure is DEADBEAT.

So just remember, all you peasants out there, there are no rules for the elite and there is nothing you can do about it.

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4closureFraud.org

Comments
38 Responses to “Where is the OUTRAGE? Fed Report Finds No Wrongful Foreclosures By Banks BUT JPMorgan Disagrees”
  1. The banks will deny everything. In fact, they have owned up to literally nothing. What we call fraud, they call “mistakes.” That is the nature of the problem here. Steve Vondran, Arizona Foreclosure and Bankruptcy Laywer

  2. and don’t forget to press the mill attorneys for violations of their oaths, Bar rules and Rules of professional conduct…

  3. Pamela says:

    True dat I vent

  4. l vent says:

    Did anyone happen to catch Obama’s lying sack of shit speech today? He claims the economy is improving. LIAR!!!! He is claiming the housing crisis is due to the huge bubble that popped, but nothing about who caused the bubble in the first place or who popped it. LIAR AGAIN. He is claiming that 200,000 new jobs were created in the private sector last month, OUTRAGEOUS LIE. He is claiming that the 20,000 jobs lost last month were public sector jobs, teachers jobs and the like. That is a very deceptive statement.The reason the public sector jobs are being lost is because of all of the FRAUD AND CORRUPTION that is DESTROYING and BANKRUPTING STATE and LOCAL GOVERNMENTS. He is clearly a puppet for the NEW WORLD ORDER. That speech should be PRINTED on the WHITE HO– USE TOILET PAPER. That is where it belongs.

  5. Pamela says:

    Marilyn, you are 100% correct right down the line.To coin a phrase you are spot on with your assesment of the situation and the cure of it. I agree, agree ,agree.

  6. A month long investigation by the Federal Reserve…..First off…what took them so long for a few foreclosures? Second…who really gives a shit what they found or what they say…..they need to be SHUT DOWN…..they are a big…a real big part of this whole corruption set up. Third…they never looked a any foreclosures…if they did…the fraud would have struck them between the eyes….so they said they found nothing wrong….thinking their word is the truth of this land…they like playing the evil villian…put a VICE on their heads…a evil action…make them feel at home…and turn the vice everytime the graph say’s they are lying…a vice is an evil act..just like the vice they planned on every citizen in this country and the world….An eye for an eye………..
    We need not even read the crap from inside investigations….these investigations are fraud…not one word is the truth…time is running out for them…not many excuses are left in the grab bag.
    Of course Goldman-Saks gave Obama a big chunk of champaign money….so did the other racketeers in the financial corrupt house. Let’s not forget CONgress…they got their share of deep pockets…..all paid by fraud money. What about the bribes by the lobbyists…bribes…a felony…..and Obama was going to end the lobbyists…excuse me while I laugh….another one who has a difficult time telling the truth…and he is running our country….oh hell…I got ahead of myself….he is just the puppet…the banks pull his strings….that is the answer as to why there has been no arrests and a total zero help for the people….So force is needed to bring an end to this whole massive sick corruption…..

    • l vent says:

      Spot on Marilyn. Their strategy appears to be either ignore us or investigate and say there is no fraud and then they pass the hot potato on to someone else in the cabal. The whole casino gulag model that they are using as a business model for a financial system in this country is a completely rigged game. America is One Giant Ponzi Scheme with fascist dictators hiding behind the scenes..These dictators are well hidden behind the biggest players in the game and they want to achieve their ultimate goal of Bankrupting America and make the U.S.A a serfdom where NO ONE owns anything and EVERYONE is working as slaves for them . They also want no National Sovereignty from them for they are I believe the beast of Revalation. The you know who is still hiding behind the scenes and wont arrive on the scene to “fix” everything until all of his destruction is finished. They have very long tentacles CENTRAL BANKS and STOCK EXCHANGES that reach into every nation so they can DESTROY IT and then OWN it. They are hiding behind the Federal Reserve Bank and they are using Ben Shalom Bernanke as the front man there. and they are behind Goldman Saks, one of the largest banking proxies in the world who are owned by the SMOM/VATICAN/JESUITS. They also use “front men” to hide behind. They have infiltrated and corrupted very many of the politicians and pretty much everything, everywhere. There are very many traitors to America in our midst, roaming around helping the beast devout everything.

      • l vent says:

        I goofed on my last sentence but I feel it is important to clearly state exactly what I meant: There are many traitors to America in our midst, roaming around, helping the beast DEVOUR everything.

      • l vent says:

        I suggest we take a trip to you tube and search for the worlds, black pope. Or you may just yahoo or google search those words, or what the hell, Bing search those words.He is the sneak, hiding behind the scenes, running the whole evil show.

  7. Tim Bryant says:

    I actually find this humorous, considering they sued Countrywide over loans they purchased which were fraudulent.

    I can hear the calliope music already….

  8. l vent says:

    So everyday we are here at this website wondering when will the fraudclosures stop? Where is the hope and change? It is not happening as long as Obama is in office. MSNBC just had Matt Taibi on The Ed Show, the columnist from Rolling Stone. The Ed Show let the cat out of the bag about who was one of the largest contributors to the Obama campaign? It was non other than…… Goldman Saks, . That’s right, one of the biggest SMOM/VATICAN/JESUIT owned banking proxies on the planet. Now lets dig a little deeper. Who holds all of the land in America in fee simple? The U.N. Who is the U.N.? The SMOM/VATICAN/JESUITS. We The People are HOSTAGES to the revived roman empire who is the NEW WORLD ORDER. We will remain hostages because as long as we believe in a COMPLETELY CORRUPTED 2 PARTY SYSTEM, nothing will ever change, it will keep getting worse. The democrat/ republican paradigm is a sham and a fraud. We dont elect anyone, SO STOP VOTING FOR THE BASTARDS. Take to the streets and mob Wall Street, flood the streets of all of the major cities with a massive nationwide protest, PICK A DAY AND ALL OF AMERICA, WALK OUT ON EVERYTHING AND HIT THE STREETS. STOP PAYING THOSE FRAUDULENTLY INDUCED PROPERTY TAXES. NATIONWIDE TAX, GAS, GROCERY, SHITTY LOW PAYING JOBS, HYPER-INFLATED GROCERY PRICES, WE NEED TRUCKERS, PUBLIC TRANSIT WORKERS, FIRE FIGHTERS, COPS WE NEED EVERYONE, FROM EVERY WALK OF LIFE TO PARTICIPATE. WE ALL GOT ROBBED We need a REAL TEA PARTY in America. WE MUST ALL GET UP AND STAND UP FOR OUR RIGHTS, NATIONWIDE AND INDIVISIBLE. WE MUST STAND UP AND SAY LOUD AND CLEAR WE THE PEOPLE WILL NOT BE SLAVES TO THE ELITE NEW WORLD ORDER BASTARDS.

  9. Diana Cessna says:

    The law enforcement officers have said they’ve found banks violated numerous state laws. The banking industry has admitted to sloppy practices. Nevertheless, we are to believe that out of all the delinquent borrowers, none of the records or accounting that prove the delinquency have any “errors” in them.

    Yes, there are many borrowers who defaulted but there are also many borrowers that were forced into default by servicing “errors” that were beyond their control and abusive in many ways. Anyone that works in the field has witnessed the later. The banks are criminal and too sloppy to differentiate between who is legitimately delinquent and who is just a victim of their “sloppiness” and law breaking.

    This report defined “wrongful foreclosures” as repossessions of borrowers’ homes who were not significantly behind on their payments. The proof that they were behind on their payments came from sloppy law breakers. It can’t be more clear. IMHO, all the defence of the banks just proves their criminal enterprise more.

    Obviously, the whole chain of title and proof of ownership issue wasn’t even considered in this report. That’s still considered just minor bureaucratic mistakes. Somehow, it isn’t wrongful for a party that forges documents to fake ownership and foreclose.

  10. housemanrob says:

    FIGHT THEM………..FIGHT THEM…………FIGHT THEM……..FIGHT THEM……….FIGHT THEM……..I AM………..UNTIL THE BITTER END!!!!!! AND I WILL NOT QUIT! NEVER…..NEVER…..NEVER. THEN I’LL REALLY START TO FIGHT!!! GET AN ATTITUDE PEOPLE! REALLY……WHO IS IN THE RIGHT HERE!

  11. joe parisi says:

    Business as usual. Fight them in the courts. Stand up for your rights and push on, don’t give up!

  12. Pamela says:

    Of course they don’t see anything wrong we should run title searches on all thier mortgages to show them that the fraud is also being perpetrated against them as well.You do not become concerned unless it directly affects you.Even then most of these morons couldn’t see it anyway.Truly thier is none so blind as those who will not see.”He who passively accepts evil is as much involved in it as he who helps to perpetrate it,He who accepts evil without protesting against it is really cooperating with it.” Martin Luther King Jr.

  13. Bust them! says:

  14. ok, THAT IS IT, EVERYBODY IN THE STREETS !

  15. agage46 says:

    The reason they see nothing wrong with there insane ruling is because they were a very big part of the problem, they help create this MESS and then through the public under the bus time and time again
    well i guess come election time we will get our say and that is >> GET TO HELL OUT OF THE PUBLIC’S OFFICE AND GO BACK UNDER YOU ROCK WITH YOUR INSANE IDEAS .

  16. Richard DeSimone says:

    Learn how to tell the government to stick it where the sun don’t shine. You have the right, for it is written: “When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the Powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.” The government only has the ability to rule you if you live on land owned by the United States of America or land ceded to it by the states and nothing more. All courts and law enforcement are bound by those very same boundaries. Oh yes, there is one more way, and that is if you let them have the power because you are afraid to stand up to them.

  17. Nye Lavalle says:

    I love you Michael, you know I do. However, I only have ONE criticism in your writing to date. NEVER, EVER, EVER — USE THE WORDS “ERROR” in anything to do with banking and mortgages. These were calculated, complex, and fraudulent “financial engineering schemes!” Make no bones about it! Even mentioning the word error validates the scum bucket’s frauds. Keep the good work up mate!

  18. l vent says:

    There is a gigantic unseen, unholy alliance that is out to strategically destroy America. This is clearly heading towards Anarchy. What else is left when the victims are left unprotected by the rule of law and therefore there is no rule of law? The victims are being treated like the criminals and the criminals are being treated like they are saints.

  19. leapfrog says:

    They are just trying to convince the public that everyone facing foreclosure is DEADBEAT.

    Yes, indeed. The bankers think tanks are on damage control over at Huffington Post. The deadbeat mantra is being astroturfed so fast the posts are piling up. Just as you start to read, there are 87 new ones in the space of 1-2 minutes and most are the spin doctors with their deadbeat borrower meme & crowing about victory of the banks.

    • Antipodeus says:

      To be fair to HuffPo it’s not all astroturfers on that thread. I caught the story pretty early in (my – AEST) morning when there was only 4 pages of comments. By the time I’d read, & occasionally commented on, the 4 pages it was up to 12 pages. By the time I went to bed it was up to over 50. As of a couple of minutes ago, the score stood at 112 pages, with over 3,800 comments!

      Yes, there are quite a few ‘astroturf’ comments, but they seem to be jumped pretty fast and pretty damned hard. There are an awful lot of ANGRY, DISBELIEVING commenters there. Be of good cheer – people ARE on to their tricks.

      Bottom line? At 500 (!) test samples out of 3 MILLION foreclosures this laughable ‘review’ is of absolutely NO statistical significance, and thus, totally useless. It’s a bit like saying that because you have found 250 live Jews in Germany on VE-Day that the ‘Holocaust’ never happened!

      Best solution? LAUGH AT THEM! By all means get angry & full of righteous indignation, but don’t forget to LAUGH AT THEM – “serious people” HATE being laughed at, at not being taken seriously. After all, they’re “serious players”, “important people”, “experts”, blah, blah, blah. LAUGH AT THEM. It makes you feel better, too1

  20. J A says:

    The feds need to see my half-inch thick file (actually, thicker) proving all the fraud in my foreclosure case from loan origination (three different mortgage loan amounts listed/mentioned in three different places in the paperwork) to the bitter end when my house was “sold” (not really) at “public auction” (not really) via title transfer with faked signatures by the VP of my mortgage company (not really –she’s a VP of the infamous LPS however), a title that was not notarized, and was drafted by New House Title LLC, a company owned by the infamous Florida Default Law Group. Inside Job, anyone?

    I hope the poor schmuck living in my former home, dutifully making mortgage payments on HIS mortgage loan, realizes he’s living in a house with a clouded title. The insider investors affiliated with FDLG and New House Title who “bought” it at “auction” and then sold it to him didn’t mention any of these shenanigans to him, of course.

    • J A, SEND COPIES TO THE FED, LET THEM THEY DON’T FOOL YOU

      • J A says:

        I’ve been thinking I need to do that, but I don’t know which agency (of all the alphabet soup agencies) is the best to send it to. I have already sent it to the Florida AG’s office and have gotten a response.

        Any suggestions would be welcome. My situation really is a perfect-case scenario of how lightning fast the fraudulent procedures sped along in the foreclosures of 2007 and 2008 before Obama got into office and HAMP slowed down/entangled the process more. My case is also perfect because it shows what happened to a regular homeowner in those ‘early days’ of the recession–whereas most talking heads in govt think anyone who was foreclosed on at that time was an investor flipping houses. Not true!

    • barbara burton says:

      AMEN SISTER, SAME STORY HERE!!!

    • CaitlinO says:

      J.A. – Send a copy of your paperwork to your old address, too. The new owner should be asking some very pointed questions of the bank he purchased your home from, like:

      “Why did you sell me property that you don’t actually appear to own?”

      Get at them from both sides – the new and the old owners.

  21. Amy Tyler says:

    Well of course the feds see nothing wrong. They see nothing wrong with anything that’s corrupt and / or broken. The only things they have problems with are the little people who should shut up and go along for the ride.

  22. Zoe says:

    The deadbeat mantra is definitely being rolled out again. Time for each of us to post the truth on blogs! We stopped that song for a while, we can do it again!

  23. Again why would the FED rule against itself? is this so difficult to understand?

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