FDIC Report | “Special Foreclosure Edition” Regulatory Actions Related to Foreclosure Activities by Large Servicers and Practical Implications for Community Banks

Supervisory Insights Special Foreclosure Edition

Regulatory Actions Related to Foreclosure Activities by Large Servicers and Practical Implications for Community Banks

This Special Foreclosure Edition describes lessons learned from an interagency review of foreclosure practices fraud at the 14 largest residential mortgage servicers and includes examples of effective mortgage servicing practices derived from these lessons.

Full report below…

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4closureFraud.org

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FDIC Report | “Special Foreclosure Edition”

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22 Responses to “FDIC Report | “Special Foreclosure Edition” Regulatory Actions Related to Foreclosure Activities by Large Servicers and Practical Implications for Community Banks”
  1. A non-lawyer would have a tough time getting nominated to be a judge; the President has to pick them. While I think most of the legal profession has blown it I’m not so sure it’s a good idea. The problem is that lawyers — good one’s at least — learn not only the law in law school but also the history and public policy; how it came about. There are a lot of laws and processes that look awful on their face but, if you look at how we ended up with them, we’ve tried lots of other alternatives over history and they were worse.

    That doesn’t mean vast parts of the system don’t need to be radically approved, or that a non-lawyer legal historian or something similar might not make a great judge, only that as bad as the current system is we have to be careful not to make it worse. With the exception of a small but well-known group of lawyers, unfortunately, pretty much the entire legal occupation isn’t doing much to bolster the credibility of this vantage point.

    • marilyn lane says:

      I agree a non-lawyer would have a hard time getting nominated to be a Judge.

      All lawyerss seem to learn the law but few pay attention to our history , public policy
      and the Constitution.

      The Constitution was founded primarily on the belief that the Government would be our entity
      that created our money supply. Not since Thurgood Marshall declared contracts written beyond
      a banks charter are “ultra vires” has the Supreme Court addressed this issue and instead let the banks and Wall Street go wild with greed.

      The fake money issues in the system has deteriated our property rights and you don’t hear the
      Supreme Court saying” what happened to …no state shall coin money, nor emit bills of credit…”
      The country is falling apart and they are in a fog.

      In 1997 I had my case Marilyn Lane v. Astoria Federal/Fidelity docketed in the US Supreme Court under Federal Question: Can a bank create money prohibited by Art. 1 Para 10 Cl 1 of the Constitution.?

      I had reached that point after the bank hid four of my mortgage checks, in order to fake a default, accelerate, foreclose and demand real money for their fake money.

      I was ousted from my two nyc condos because of the bank’s scam. I went thru the whole process of courts the trial court, appellate court, bankruptcy court, Federal courts etc all the way to the US Supreme Court. and every judge knew the law and let me in and each time after the banks came in the back door my rights went out the window.

      As it is now our courts are controlled by the Banks, Wall Street and the Title Companies and it should be he other way around. I would think it far more just if someone lie an I vent were sitting and deciding the fate of “we the peope” lives.

  2. Joe Loomer says:

    I’m driven to state the power of blogging is almost overwhelming when I read on this and other posts how it has given Ivent the tools necessary to seek the legal remedy due in her situation. Fight On!

    Navy Chief, Navy Pride

    Augusta GA Homes

  3. marilyn lane says:

    Don’t call I vent HE. She went to court with her husband. I had the gut feeling that I vent was a female.

    • l vent says:

      Thanks, Marilyn! Looks like I fooled a few, but not you!! Maybe it could be my occasional cursing, oh well, life’s a beach!!!

      • marilyn lane says:

        I vent
        Forget going to the beach after today you should be going to the bench…
        The following comes from WikiAnswers

        Do you have to be a lawyer before becoming a judge?

        Answer:
        It depends on the jurisdiction. Many state judges are elected by that state’s population. When it comes to the US Supreme Court, ANYBODY can become a judge. The US Constitution does not have any educational or bar passage requirements for becoming a Supreme Court Judge. All you have to do is be nominated by the President and confirmed by the Senate as provided in the US Constitution (see Article 2, Section 2, Clause 2).

        Remember that the United States is a federal republic. In other words, there are many jurisdictions, each with their own rules regarding the election or appointment of judges and other public officials.

        You may not have to be a lawyer to be a judge, but you still have to convince a lot of people (or a few powerful people) that you are right for the job
        ..
        This is the perfect job for you.

  4. l vent says:

    I saw a crawl line on the news about 216 cook county homeowners saved from foreclosure. I can’t seem to find out how or why. Anyone hear about this?

  5. l vent says:

    God Bless America. Just got back from my court appearance for my frauclosure complaint. In the answer to the complaint by my pretender lender, I asked them to show proof of standing. I also called them out on all of the fraud. The judge asked me if I wanted a loan mediation and I told him that I already tried to get a loan mod and I told him the horror story, and how I was supposedly denied at the last second for the mod by of all entities, the U.S. TREASURY. The judges looked a wee bit put back by that response. Then I told the judge that in the answer to the complaint I asked the pretender lender to show proof of standing. The judges eyes got rather large and the Judge said, have you hired an attorney? Yes, your Honor, I replied. He said, consult with your attorney.There will be no further mediations here , this is now between you and your attorney and the pretender lender. I said their is fraud in the entire loan, your Honor. He said tell that to your attorney, you may leave now. The attorney for the plaintiff, the pretender lender did not say ONE WORD through out the enitire appearance in their defense. I must add, the Judge was very kind to me and my husband. I feel he gave everyone there a fair and fighting chance. There are fair and honest judges still left in America.

    • AliceN.Wunderland says:

      I vent, you were lucky to get a very smart judge. I have no doubt there are fair and honest judges out there and I hope they continue to do the right thing. This is a defining moment in the history of this country and I have always believed the truth will win. There are no more dark places to hide.

      • l vent says:

        Absolutely, positively right on Alice!!!!!! I think that there are enough good and honest Americans left to get America back on the road to prosperity and not down the road to perdition. God Bless America!!!

      • Mrs Doutfire says:

        Congrads IVENT!!! and many more wins to you!

      • l vent says:

        Thanks, Mrs. Doubtfire!! We are all in this mess together!! Good Luck to you as well. We all have to keep fighting the good fight!!!! I was really shocked today to see how many homeowners haven’t got a clue about the rampant mortgage fraud. Sometimes I wonder if we are all living on the same planet. I guess they aren’t mad enough yet. Gotta get really mad to find out the truth. Being in danger of losing life and limb will do that to a person. Have a great night!!

    • l vent says:

      Thank You 4closurefraud for giving me the knowledge I needed to fight for my home. I could not have done it without you.Thank you also to ProPublica.org, for leading me here. The fight is not over yet, but at least I have the knowledge that I need to have a fighting chance!! Have a blessed day!!!

      • Katheryn says:

        Well Done I Vent! I’m glad the judge let you speak your piece. I’m afraid whenever the time comes to get in front of the judge I’ll get tongue tied and not be able to say a word that makes any sense even if he/she lets me speak. Best of Luck with the Next go round or maybe they’ll give up!!!!!!!!!! Every win or status quo makes the rest of us a wee bit more confident.

      • l vent says:

        Thanks, Katherine!!! I was pretty nervous going in there without an attorney. The judge did not make me feel intimidated, Thank God!!! ! think I wounded a pretender lender today. It wasn’t a fatal wound I don’t think, but a small victory none the less. I will keep you posted about what happens next. God Bless!!!

    • housemanrob says:

      HALLELEULA, I VENT, THE CHAMPAGNE IS ON ME!

      • l vent says:

        Thanks guys!!! Couldn’t have done it without all of you and this website!!! We have to keep fighting the good fight and sharing!!! God Bless America!!!!!

      • l vent says:

        Cheers, housemanrob!!! To all of the honorable judges and honest Americans! We will kill all of the terrorists, one bin laden at a time!

    • HEY WOMAN…..GREAT JOB…KNEW YOU COULD DO IT…..DID YOUR HUSBAND GET ANY CHANCE TO TALK??? LOL…..I CAN IMAGINE WHAT WENT THRU THE PRETENDER LENDERS LAWYERS MIND….. HE PROBABLY THOUGHT….’ WHY ME LORD…OF ALL THE CASES I GET HER…’ …I BET HE DRANK HIS LUNCH…. WELL, NOW THEY KNOW…NEVER GET A WOMAN MAD CA– USE YOU WON’T WIN THE BATTLE…. BUT THAT IS GREAT….NOW YOU CAN SWAMP THEM IN PRIVATE WITH YOUR LAWYER….. RELAX NOW AND TRY AND ENJOY SOME TIME…..WE ALL BEEN THRU HELL AND WE ALL ARE PUTTING UP A GOOD FIGHT…… CHEERS TO YOU AND YOUR FAMILY……….

      • l vent says:

        Thanks Marilyn! The judge pretty much spoke directly to me for whatever reason. My husband did tell the Judge that my wife has been working really hard to find all of the fraud, I had stack of it on hand just in case the Judge asked me to see some. I am sure the attorney for the pretender lender did not like the sound of that. I made sure that I told the Judge I did not even begin to look in to the mortgage fraud until I in good faith, tried to do the honest thing, and seek a loan modification from the lender. I did not want the Judge to think I was a gamer. The attorney was completely silent, though he did receive a copy of our answer to the complaint a month ago, certified mail, so he clearly knew he needed to show proof to be granted his evil wishes.. He did look like he couldn’t wait to get out of there. Cheers right back to you and your daughter!!!! My house and yard is a mess, gotta get the yard ready for a big summer POOL PARTY!!!!! I’ll check in now and then to see how we are all progressing in our good fight!!!!! God Bless!!!!

  6. “To the extent an institution has a practice of paying law firms, servicers, and employees bonus incentives to process high volumes of foreclosures, the practice should be discontinued.”

    You’d think that would be a little higher than the last paragraph.

    Or even spelled out which institutions are engaged in this practice, who exactly was paid, how much they were paid, and whether a reasonable person would have probable cause to believe crimes were committed in exchange for those payments.

    • AliceN.Wunderland says:

      This will take years to sort out, what they did was so extensive and to undo the last few years will probably take double that to fix in any meaningfull way. That is why the foreclosurs have to stop now. Every day that they continue adds another year to the fixing. When will the government declare a national moratorium, how much pain do they want to endure, how much ridicule. I read on one of these posts that someone said that foreclosures weren’t the problem, jobs were. Well start hiring people to work on this mess.

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