Side Deal With Bank Of America Would Cede Liability In Exchange For Homeowner Relief

“For example, it could involve a release from liability for alleged lending abuses; alleged failure to properly securitize home loans in accordance with state laws; alleged abuses of distressed borrowers who fell behind on their payments; alleged illegal behavior when foreclosing on those homeowners; immunity from suits involving a combination of those claims, or from all of them — an effective grant of immunity from prosecution.”

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And the catch?

“Their mortgages would have to either be owned by Bank of America or be serviced by the bank on behalf of private investors. Fannie or Freddie loans would not be eligible

So, essentially, no loans will be eligible for their program…

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Side Deal With Bank Of America Would Cede Liability In Exchange For Homeowner Relief

WASHINGTON — Federal and state prosecutors are in advanced negotiations with Bank of America in pursuit of a settlement that would forgive the bank for a broad range of past mortgage abuses in exchange for fines that would finance a significantly expanded relief program for struggling homeowners, according to three people with direct knowledge of the matter.

The negotiations are separate from ongoing talks between the nation’s five largest mortgage handlers and the U.S. Department of Justice, the Department of Housing and Urban Development and all 50 state attorneys general. Those talks, led by Justice and involving all five companies, are seeking a settlement to resolve allegations of past wrongdoing like so-called “robo-signing,” in exchange for lower payments and reduced mortgages for potentially millions of troubled borrowers.

But the options under discussion with Bank of America, the largest U.S. bank by assets, go beyond what’s on the table in the larger group talks. Justice, along with a small band of state legal officers, is pursuing an agreement that would have the bank forgive what participants described as a significant amount of mortgage principal owed by distressed borrowers in exchange for receiving an effective grant of immunity from government prosecution related to alleged mortgage and foreclosure wrongdoing.

Check out the rest here…

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4closureFraud.org

Comments
45 Responses to “Side Deal With Bank Of America Would Cede Liability In Exchange For Homeowner Relief”
  1. lvent says:

    Here is another blatant example of the tyranny we are all living under and how they are trying to annihalate the American people who are struggling to keep their heads above water…..I received a $597.66 light bill from Commiewealth Edison today…….The bill states $395.28 for electric supply charges, $114. 54 for delivery charges $39.63 in past due charges and the rest, $48.21 is in TAXES AND OTHER CHARGES…………..THEY TAX THE PEOPLE ON ELECTRIC!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! .

  2. Malcolm in the middle says:

    Listen , I started this tirade and I will finish it . #1 Forenesic Securitization Audit =900.00 Your filing fees w/ service = 125- 175 , serve american brokers conduit ( outta business ) Anthony Mizzola ( countrywide Do I need to say it ?) and B of A then bank of america home loans servicing then , since july of 2011 B of A again ??????????????// anyone of the defendants summoned not show up ???? Well what do you think the Judge will say , save your money , grow some balls and stand up to these freakin maggotts . They are full of crap and do the same shit you do , they are human .OUTSMART THEM !!!!!!!!!!!!!!!Study ,be dilligent yet humble , learn , shut up and read and listen ! .Critical Thinking , it’s the first freakin college course that and power point , F-in useless power point I mean , most def. not critical thinking . Just read suscrribe to LivingLies and Foreclosefraud both . com and educate yourself and for the love of GOD grow a pair , I will do it for your if’n you tooo sceered

    • lvent says:

      I have found the easiest way to learn and retain what you learn is to take ALOT of notes about any important info that you hear and make copies of information that you can print out so that you can study it.. Sometimes you may need to re-read things many times because it is a very complex web they have woven. But not impossible to untangle once you get it than it really flows and you can catch on quicker and quicker…

      • Malco says:

        I agree , and it is freakin overwhelming and unbelievable I vent. This is the largest Ponzi scheme of all time . From the top down we need to take OUR Country The UNITED STATES of AMERICA ( I know you love the caps ) back . We are now a police state , I am no crazy wingnut , I read and learn and the more I do the more scared I am for my son and 4 grandchildren and you should be for yours , our country has been sold out from under us . Who profits ?, read , print re-read and ask questions if you do not get it -hint it started in the 30’s on a small island off Georgia – The Federal Reserve

      • lvent says:

        LOL Malco, I am A/K/A the ALL CAPS TERRORIST. I just got through watching a program on HISTORY INTERNATIONAL called “Secret Societies”. Experts on the subject of the ruling Global Elite A /K/A THE U.N./NEW WORLD ORDER stated in no uncertain terms what they want is a ONE WORLD NAZI GERMANY…………….They are all FREAKING NUTS!!!!!!!!!!!! The only thing keeping them from acheiving their evil goal is our U.S. CONSTITUTION and Obama and CONGRESS are working hard to destroy it……..This is no longer a crazy conspiracy theory, there are FACTS to back it all up…. The Plutotarchs are MANIACAL and DIABOLICAL but they are also getting way out of hand and many are waking up to the truth… I look at it like this, If they can’t RULE BY SECRECY, they can’t rule and Empires always fail because they get too GREEDY. The Evil Revived Roman Empire will burn and I want to watch.We The People of the UNITED STATES and the World have to rout them out and expose all of their evil plans and who they are and throw them in prison to rot until they die. Even that is too good for them. I say off with all of their heads. Esp. the treasonist traitors within our own Government both past and present. They are especially despicable…

      • lvent says:

        Malco, DEATH THE GLOBAL BANKING CARTEL!!!!!!….INCLUDING THE FEDERAL RESERVE…THEY ARE GLOBAL FINANCIAL TERRORISTS……………….

      • Malco says:

        I vent, My Dad A WWII vet was a mason and after he passed left me many books which should not be read unless you are a “member ” .I like many, have done research on my family tree and found we may have had actual “Knights of the Templer” in our family , it’s not the society , it’s the members and how they use that knowledge . I am fortunate to have been raised by depression era parents , they knew to be thankful to have one stick of gum to go the movies , we have turned into a a people who excel in the seven deadly sins . I am not a religious man , yet very spiritual .Whatever your higher power may be ask Him to have mercy on us “little” people and unleash a hellstorm on those pilfering and raping our future ,I Vent , I wish you the best and never give up the fight , I am having a very “low” day today , so I ask my Lord to give me strength and help me fight thru this day and He will ,he never forsakes us , sometimes it takes a while -PEACE

      • lvent says:

        Malco, my Grandma came from County Kerry in Ireland. You are right there is real evil in the world. There are evil forces working from within and from outside that are working hard toward our demise as a free and soveriegn nation as the S&P downgrade proves… My Grandma who passed a few year ago told me once that she really hated how in some movies they make Satan look more powerful than God. My Grandma told me that was a great deception..God is way more powerful..I believe her.

    • Malco says:

      My surname originates from MacSwiney , see who died on a hunger strike in the county of Cork Ireland in 1729 , that is my ancestor .All of the “little people have made those in power since the dawn of man wealthy -WHY ? – because , we the little ones allow it , so change can occur if we band together and rise up , that is what they fear , and that is why we now have concentration camps in our own country . Well hear me loud and clear , I know and have worked for many “alphabet ” agency people . I will take 20 of you w/ me , you may have posistions of power , but hey we all run our finger thru the paper now and then , and you ARE not superior to me in any way shape or form , bring it .

      • lies is all they tell says:

        @malco we are all in the same boat each of our stories are similar and have fraud written all over them. the problem in a,merica is eveyone is sleeping. we are a a sleeper cell of people whom know what is happening. how do you wake up the rest of america. 60 min is rerunning the robosigning thing but it is much larger then that. these banks did not fund these mortgages. these mortgages were funded by invesors. none of these mortgages any wherein the country are valid, yet daily people pay hteir mortgages to whom? we need to know how to fight. none of us know wht to do i have asked many times we need a leader someone good at protesting. get a petition going to recall folks not for the americans. i thought there were safe guards in our constitution to fight tyranny so we do not have a dictattor. ?????

      • Malco says:

        If we liquidate everything and put all the money in the WHOLE world on a table it is around 55 trillion+- ,not including QE#1 or #2 , so explain how the bankers have 265 TRILLION in securities ? Put down your blackberry or smart phone , kill your television ( now I get it 30 years later) and EDUCATE yourselves , we our the only hope this world has , it is UP TO US to fix this NOW NOW NOW !!!!! I vent so true that satan ( will not capitalize the beasts name ) The Lord is all we have and we must surround ourselves w/ His glory and he will protect us , call me a nut – I should be dead 20 X’s over , yet I live , why ? I live on his time and he will bring me home when my job is done here . The stories I could tell , but why ? All my experiences were of His doing to prepare me for whatever he has in store for me , maybe it was to write this , drugs ,alcohol, high speeds racing cars in excess of 140 mph and motorcycle accidents yet here I am , THANK YOU LORD -Malco

  3. These banksters have committed such a horrific crime against American’s, they should not get off on one crime. They need to be prosecuted to the max and their victims should be 100% compensated. If the law allows the victims should be compensated treble for the “RICO ” crimes committed against them. No shoveling us under the carpet.

  4. abs says:

    BOA–Bank of Atrocity

  5. lvent says:

    ROBO-SIGNING IS ANOTHER WORD FOR FRAUD…….THE MEDIA ARE TRYING TO DISGUISE WHAT THEY DID……… MASSIVE AND PERNICIOUS FRAUD AND GIVE IT A BETTER SOUNDING NAME……PAPER WORK MISTAKES,ROBO-SIGNING, CLOUDY TITLE, MERS ARE ALL JUST NICE SOUNDING NAMES FOR FRAUD…….THAT IS WHAT FORECLOSUREGATE IS, THE COVER-UP FOR THE BIGGEST PONZI SCHEME SWINDLE AND HEIST IN HISTORY………….FEDERAL CRIMES, WHITE COLLAR CRIMES THAT AREPROSECUTABLE UNDER RICO….SECURITIES FRAUD, CURRENCY REPORTING VIOLATIONS, AIDING AND ABETTING, PATTERNS OF RACKETEERING ACTIVITY,ILLEGALLY COLLECTING OF AN UNLAWFUL DEBT, EXTORTION, ILLEGAL GAMBLING AND LOAN SHARKING ACTIVITY,…JUST TO NAME A FEW……,………………..A COVER UP FOR ALL OF THE FRAUD AND WHO THE FRAUDSTERS ARE…….THEY ARE FOREIGN OWNED MULTINATIONALS POSING AS AMERICAN INSTITUTIONS AND AMERICANS…THE DEVILS ARE ALL HERE…..

  6. Ron Moss says:

    I can imagin the Constitution was changed the same way. Remember “Congress has the power to coin money and change the value thereof” not the federal reserve. In fact the federal reserve was not established untill 1913 several hundere years after 1776 when our nation was founded. Why do we need Bernanke to send our money to Europe?

    • Malcolm in the middle says:

      Who has interest in China =Soros .Who developed the euro-nation =Soros . Who is trying to abolish our constitution by making Mexico , USA and Canada one North American Nation = Soros , do your homework and study history , it does repeat itself and we will see what happened in Egypt very soon in our backyard , have your go bag ready boys the fun is about to start , and I have a list of all the bankers in it .

      • lvent says:

        MALCOLM IN THE MIDDLE…..THE ELITEIST PLUTOCRAT EVIL NEW WORLD ORDER PLAN FOR WORLD DOMINATION IS WAY BIGGER THAN GEORGE SOROS, GOT IT??? YOU NEED TO DO YOUR HOMEWORK IF YOU THINK THIS IS ALL GEORGE SOROS DOING….HE IS A PERP THAT IS ALL, JUST LIKE THE BANKSTERS/WALLSTREET, THE FED AND THE TREASURY….WAKE TF UP.

      • Malco says:

        I didn’t mean it was only Soros , it is deep within EVERY country in this world , IMHO he is dead set on the North American Nation and that will strip OUR Constitution – I am WIDE AWAKE BABY -I did not intend to upset you , we need unity not division and we all let our emotions type at times , I apologize if I offended you , have a great day -M

      • lvent says:

        malco, I know you are wide awake. At the time I though you were attacking me about my ALL CAPS useage. Now I know you were only joking….

    • lvent says:

      Because Bernanke is working for the NEW WORLD ORDER or may be a member…….This is an ELITE GLOBALIST NEW WORLD AGENDA TO TAKE OVER THE WORLD….THEY BLEW UP THE WORLD ECONOMY AND ARE TRYING TO WIPE OUT THE MIDDLE CLASSES WORLD WIDE AND MAKE EVERY NATION LIKE MEXICO, RICH AND POOR…..ONLY THE RICH HOLD ANY ASSETS OF ANY VALUE (WEALTH) AND THEY WANT EVERYONE ELSE TO RENT AND BE THEIR DEBT SLAVES ON THEIR WALL STREET SLAVE PLANTATION FOR ALL OF ETERNITY……..THIS IS A FOREIGN AND AMERICAN ELITE GLOBALIST AGENDA TO DESTROY NATIONAL SOVEREIGNTY, PAPER CURRENCY, THEY WANT TO MICROCHIP US AND ENSLAVE US………….CONFORM OR PERISH IS A BIG PART OF THEIR GLOBALIST AGENDA. THE U.S. GOVERNMENT IS INFILTRATED BY THE NEW WORLD ORDER AND THEY ARE IN ON THEIR AGENDA 21. THAT IS WHY WE HAVE FORECLOSUREGATE…… THE ILLUMINATI, A TRANCH OF THE NEW WORLD ORDER OPERATES IN SECRET BY USING PROXIES SUCH AS WALL STREET INVESTMENT BANKS LIKE, MORGAN STANLEY, GOLDMAN SACHS, THE BIG BANKS,THE FEDERAL RESERVE,THE U.S. TREASURY,THE MAINSTREAM MEDIA, THE LAWYERS, THE SCHOOL SYSTEM AND THE POLITICIANS IN CONGRESS AND IN THE WHITE HO– USE…… THEY OWN AND CONTROL THE MEDIA, FINANCE, LAW, GOVERNMENT AND EDUCATION……..VIA MANY, MANY PROXIES….

  7. Flex says:

    America,
    If the government officials give in with BOA proposal of absolute immunity in exchange of principal reductions of loans that they don’t even own, another way to cover up their wrong doing, and get away with murder.
    Is there anything else that BOA would like for their sleazy order, how about cream and a cherry on top?
    Amazing that Fannie Mae and Freddie Mac keeps coming up in the picture when other deals have been struck with the government to buy all their toxic assets and then rent the homes to people, making uncle Sam, your new landlord.
    Americans, are you ready to write your checks to the Federal Government for your rent?
    Who are you going to call when the water pipe breaks? The ghost busters?
    BOA is a classic move after donating hundreds if not thousands of homes and the bulldozers turn them down to the ground. The question is, what happens to the land? Does it go back to the Federal Government, or City Government will have a new problem to deal with, wait a minute, no problem, we just charge more taxes to the home owners left who can still pay their mortgages, and then we squeeze some more from the small business owners and corporations.
    I said NO DEAL. We will see you in court and we will fight for our rights. If BOA or any banking institutions, as they are only institutions, Do business with transparency and honesty or Get out of Business. Our main mistake is that No matter what the banks do, we still keep doing business with them.
    Why don’t we all pull the plug on all too big to fail banksters and let them fail? But No, my credit card has my picture on it, and I like the rainbow in the free checking account. And I can not let go of my 10 credit cards that I love to death paying compound interest to the bank. A debt that I will never pay even If I live to 100 years.
    As always, when we will ever learn?
    Good luck for the hard times that are coming ahead?
    God Bless All and God Bless America.

  8. Diana Cessna says:

    Very bad deal for the housing market and for home owners. Homeowners that are paying their mortgages and playing by the rules are harmed by the bank’s illegal actions. That is what we need to stop. This doesn’t stop that at all.

    This is like saying, “if you let us get away with ripping people off that can pay, we’ll temporarily help the ones that can’t pay”

    • lvent says:

      Homeowners who are paying their mortgage DO NOT know they are aiding and abetting the terrorists who robbed us and are allowing the SAME FINANCIAL TERRORISTS to keep the ILLEGAL PONZI SCHEME CHARADE GOING. BLOOMBERG REPORTED THAT THE FEDERAL RESERVE COLLECTS TRILLIONS IN MORTGAGE MONEY TO BUY TREASURIES WITH…THEY ARE DOING A PONZI SCHEME WITH TREASURIES AT THE FED, THE TREAS AND ON WALL STREET AND RECYCLING THE SAME OLD DEBT…. Those who are supporting and using the TBTF BANKS WHO ROBBED US BLIND AND STILL ARE, are also aiding and abetting the crooks who robbed us in the BIGGEST PONZI SCHEME SWINDLE AND HEIST IN HISTORY…… HOMEOWNERS PAYING THE MORTGAGAE are sending money to people who don’t even own their loan for the Love of God…. Stop the nonsense and the deception….and if you don’t know what i am talking about which I doubt:

      WATCH THE MAX KEISER VIDEO ENTITLED; BANK OF AMERICA SUCK & BLOWS (E107)

      • lvent says:

        The Ponzi Schemers are causing ECONOMIC STAGFLATION because all they are really doing is recycling the same fraud over and over. .They blew up the world’s economy and they want to prevent the peasants they have created from ever recovering…..The U.S. GOVERNMENT IS ALLOWING THE FINANCIAL TERRORISTS ON WALL STREET AND AT THE FED and THE U.S. TREASURY, TO DO THIS TO THE AMERICAN PEOPLE..THROW THE TRAITORS OUT, AMERICA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! THAT MEANS THAT COUNCIL ON FOREIGN RELATIONS TRAITOR TIMOTHY GEITHNER TOO…CONGRESS SUCKS AND THEY ARE COMPLETELY CORRUPT AND — USELESS. THE SUPREME CONGRESS A/K/A THE SUPER COMMITTEE IS AN ACT OF TREASON AGAINST THE AMERICAN PEOPLE BY CONGRESS AND THE OBAMA ADMINISTRATION…AND SO IS THE DEBT DEAL….THEY ARE ALL THE POT CALLING THE KETTLE BLACK..WAKE UP AMERICA!!!!!..THEY ARE ALL A BUNCH OF TRAITORS AND TREASONISTS TO THE UNITED STATES OF AMERICA AND OUR FREEDOM………..

    • Malco says:

      Thank you , you drove the nail home, hit it outta the park there -Malco

  9. debi p says:

    Any settlement for fraud is digusting and unacceptable. How do we “opt
    Out” of this fiasco?? Are they serious? I am so sick of this vast deception
    With criminal fraud. The top execs at BOA are still in their beautiful
    Estates without mortgages that linda green satisfied. This is fraud
    Upon america. No settlement can undo the evil twisted web they wove
    On our backs without our permission. They already modified all the
    Loans when they pretended to securitize them all. This America is
    Like china or another communistic country. They are trying to take
    Over the global real estate market leaving upheaval pain and death
    Behind. When is there going to be a senator or congreeman who will
    Stand up for “we the people”. They are ALL self serving evil fuks that
    need and
    Deserve jail time. Is this really america?
    Where the F do we go from here. So many liars and thieves. What
    A horrifying time to be an American. Debra. 5613899339

    • housemanrob says:

      Facism, not communism.

      • housemanrob says:

        I feel we all should take a crash course on the differences between….Capitalism, socialism, communism, facism and the relation to democracy! It is very enlightenig, for those who have not researched and goes a long way to help understand what is happening!

      • lvent says:

        I don’t know Rob some highly educated people like Michael Savage who has a PHD from Berkeley said the other night that we have our first communist president in America and that Obama is a Leninist and we have the most corrupt CONgress in history and we will be lucky to live through it. Michael also said all roads lead to Rome….Fascism is State controlled Capitalism…. What we have here is FOREIGN MULTINATIONAL CONTROLLED CAPITALISM and the U.S. GOVERNMENT IS AIDING AND ABETTING THIS BY ALLOWING THESE FOREIGN GLOBALIST ELITE FASCISTS TO ROB THE AMERICAN PEOPLE WITH IMPUNITY…….THEY ARE THE NEW WORLD ORDER AND THEY ARE THE FOURTH REICH, THE NAZIS…THE REVIVED ROMAN EMPIRE. THEY ARE BEHIND ALL OF THE EVIL IN THE WORLD PAST AND PRESENT:::
        http://www.theforbiddenknowledge.com/hardtruth/jesuit_world_control.htm
        Here is a good video entitled INVISIBLE EMPIRE-FULL MOVIE PARTS 1-14
        ALL THE DEVILS ARE HERE.

      • lvent says:

        Rob did you not see what happened up on WALL STREET today? They robbed us blind again…’Now if there was any political willl to stop them there would be no need for a debt deal or a Super Congress…All the corrupt politicians need to do is re-enstate Glass-Steagall, re-enstate the uptick rule, tax the top 2% and Nationalize the banks……..But they won’t because the enemy is in plain sight posing as American politicians and American Institutions. They are either NEW WORLD ORDER PERPS or NEW WORLD ORDER MEMBERS…..THEY ARE COUNCIL ON FOREIGN RELATIONS MEMBER SUCH AS TIMOTHY GEITHNER AND THEY ARE U.N. MEMBERS SUCH AS OBAMA as well as they use a DUAL ISRAELI-AMERICAN CITIZENSHIP LIKE RAHM EMMANUEL AND NICHAEL CHERTOFF….GOOGLE IT. THE PROOF IS ALL THERE FOR ALL TO SEE….They really cannot hide who they really are and who they work for and it not us…….ALL THE DEVILS ARE HERE AND THEY ARE DESTROYING US FROM WITHIN……..

  10. losing my home in florida says:

    people let everyone know the secret if the loans were not properly securitized the contract is null and void. these banks did not lend us the money it was investor money and they are not on the mortgage or note. we need to su e for promissary esstopel

    • housemanrob says:

      Actually, the money is created out of thin air, by the banks and approved by Congress!

      • A man says:

        The thin air our currency system is created from comes from the private sovereigns signature monetized into the public trust and loaned back (at interest) to the public debtor person. Notes for notes. that’s what make the muse-sick.

        Too big to prosecute, because everyone’s a prostitute.
        if everyone was a responsible, knowing being there would be no need for a currency system like this.
        and that ain’t gonna happen…. but individually?

  11. Litgant says:

    So our rights to redress over fraud will be taken away. Judges will not even need a rocket-docket. All that will be needed is another cheat-sheet with a few check-offs, and affirmation certain things are certified, present this to a judge and he can have his JA stamp it without even a review, and the property is foreclosed. No need of answering a complaint. No need of motions of any kind. A new non-judicial kind of property law will take over the land. Who cares that Republicans are pushing this through on many levels of government? And where are the Democrats yelling against it? America has become a sham nation with sham government, sham court systems, and sham financial systems. Maybe China really does need to throw in the American dollar and go Euro. Maybe they need to cash out JUST LIKE THE BIG BANKS. Where are the real Americans in America who believe in homes, property rights, apple pie, Chevrolet, and God? Will they reduce us to discouraged people who do not care about the nation any more? Will they take away our pride of home ownership, employment, and going to church, temple, or mosque? To big to fail? What about us, the American people?

    • housemanrob says:

      Yea, but……….about all those title problems! A broken title chain is just that and is highly destructive to the future of title insurance. Title companies are now reluctant to insure any secutitized instrument…….and why not? It’s because they risk going broke!

  12. Malcolm in the middle says:

    I am playing Brian Moynihan like a fool , he is the CEO of B of A , and i hope his people read this , yes , I did call you ” boy” Mr. Moynihan You entire staff knows or has talked to me , yet , they have no answers . Do I have aces up my sleeve ??? Hell yeh!! So try to take my property and I will have my County officials on your ass so fast your head will spin , see I ride Harleys and play pool w/ the County commissioners , Lawyers , in my county.+ Yeh we are buds too just like all the police , and the ace of spades is the EPA , so foreclose you ass munch and enjoy the 200k cleanup the EPA will throw at you , turn a profit on that one boy -Illigitimus non Carborundrum google it

    • housemanrob says:

      What are you smoking Malcolm……..I want some!

    • see says:

      Malcolm sounds like your property is full of hazardous waste.

      • Malcolm in the middle says:

        No,I have a Class III firearms instructor / friend and an ATF agent next door and about 2000 POUNDS of lead in the ground , no dump site , plus the federal agents up the street at the “secret” base have even joined in w/ there MP-4’s .I hear them up at the “secret” base doing 3 round bursts every morning , and Rob only the best my friend 😉

      • lvent says:

        Are we feeling rebellious yet?

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