Reuters | Analysis: Doubts Raised on OCC Foreclosure Estimate

Analysis: Doubts raised on OCC foreclosure estimate

(Reuters) – A Reuters analysis raises doubts about a widely cited statement by U.S. Comptroller of the Currency John Walsh that only a “small number” of wrongful foreclosure sales have occurred despite widespread misdeeds by banks that are the leading mortgage loan servicers.

In a February appearance before the Senate Banking Committee, Walsh testified that formal examinations of 14 banks contradicted fears that many thousands of homeowners had been evicted erroneously because of mistakes and wrongdoing by the banks.

“Our work identified a small number of foreclosure sales that should not have proceeded,” he said.

The examinations followed disclosure that banks had mishandled or lost crucial records, and had mass-produced fraudulent documents filed in courts.

The OCC is preparing to move without state attorneys general in the next couple weeks and impose sanctions on the banks, according to a source familiar with the process.

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Comments
6 Responses to “Reuters | Analysis: Doubts Raised on OCC Foreclosure Estimate”
  1. Peggy Johnson says:

    John Walsh HEAD OF THE OCC should be sued PERSONALLY under the Bank Fraud Statute for FAILURE TO PROVIDE THE INTANGIBLE RIGHT TO HONEST SERVICES! – THE AGENCY IS A DUMMY PROGRAM – HAS BEEN FOR A LONG TIME – — USELESS AND FULL OF S++T AND MY TAX DOLLARS BETTER NOT GO TO FUND THIS AIDING AND ABETTING SORRY COWARD. A CLASS ACTION SUIT SHOULD BE COMMENCED ALLEGING JUST THAT — BANK ASS SUCKER!.

  2. jeff says:

    The OCC is the Marketing arm of Banks. Subprime crooks hid behind John “Terrorist” Dugan, who’s now back at Covington Burling. (working as a bank lobbyist)

  3. Plutocracy!!! government by the wealthy, wealthy class that controls a government, often from behind the scenes, group of privileged people might shape the economy and government for their own benefit, banks, and other businesses come together as a corporate community that dominates the federal government in Washington. Their real estate, construction, and land development companies form growth coalitions that dominate most local governments. Owned by the hyperwealthy and operated in their own economic self-interest, Government by the wealthy. A country or state governed by the wealthy people

  4. Pamela says:

    Tru Dat, a small amount of foreclosures were done incorrectly.I guess it goes by definition as to what small is:my personal take on a small number would be 200 or less anything beyond that number needs to be carefully examined.Walsh has no idea on the numbers as he is bank bought and controled.He couldn’t see two inches past his own nose if you paid him money to do it. Oh wait a minute we do pay him.Maybe with increasing age he needs bifocals to bring things into perspective.He needs to go now.

  5. sr says:

    well I think all of us that have had fraud and lost our homes should send in our paper work so he would not have to search for the wrongful foreclousers. we got it in our hands yet no one wants to except the truth or fact that this has happen to us and many, thousand others from 2004 until today.

  6. l vent says:

    LIARS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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