Fannie BofA Probe | Letter From Rep Issa to FHFA Director DeMarco

 

Issa launches probe of Fannie, BofA mortgage servicing deal

Rep. Darrell Issa, chairman of the House Oversight and Government Reform Committee, opened an investigation into the reported Fannie Mae purchase of a Bank of America mortgage servicing portfolio…

“Some commentators have labeled this transaction as a back-door bailout of BofA by permitting the bank to shift part of its risky portfolio to American taxpayers. Under these circumstances, I am unclear why the Federal Housing Finance Agency allowed Fannie to proceed with the transaction,” Issa wrote…

BofA’s response?

“Bank of America periodically sells mortgage servicing rights (MSR) or transfers mortgage-related assets to third party business partners,” a BofA spokesman said. “This is a commonly accepted, industry-wide practice that many mortgage loan servicers, including Bank of America, have engaged in for many years.”

Oh, I guess since it is a “commonly accepted, industry-wide practice” it is all legal and stuff…

Geez, that’s the only answer they can seem to come up with lately…

Full letter below…

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4closureFraud.org

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Issa Letter to DeMarco RE Fannie BofA Deal

 

Comments
20 Responses to “Fannie BofA Probe | Letter From Rep Issa to FHFA Director DeMarco”
  1. Ali says:

    Tell me how you really feel! Fuck them all. Even all the mortgage brokers are saying the same thing. “WE always give every loan a MERS number and securitize the loan”. Even the VA said that to me today, except he said “I don’t know what you mean by securitize”. I really got angry and told him how in the hell did you get your job, we have lost much treasure in these phony wars and the one that came home came home to a foreclosure, he even tried to deny that!!!!!!Either a bold faced liar or a really dumb fuck!!!! I am so angry about all this I could explode. They are gonna have to drag me kicking and screaming from my house, I hope BOA isn’t holding thier breath waiting for a pymt from me!!!!!!! Fuck them too!!!!!!!!

  2. lvent says:

    The Federal Government wants to steal all of these homes from the U.S. TAXPAYER….HOMES THE AMERICAN PEOPLE FULLY FUNDING THE BUILDING OF AND WE PAID FOR ALL OF IT….THIS IS A TYRANNY….A FOREIGN GOVERNMENT LAND GRAB UNDER THE DISGUISE OF WE THE PEOPLE OWE A DEBT WHICH WE DO NOT OWE..THE U.S. GOVERNMENT IS ALLOWING THIS….VIA THE JUDGES IN COURTROOMS ACROSS AMERICA!!!!…WE THE PEOPLE PAID FOR EVERYTHING THRU OR TAXES…….THIS IS A COMMUNIST PLAN TO TURN AMERICA INTO A TOTALITARIAN DICTATORSHIP UNDER THE DISGUISE OF FALSE DEBT THAT WE THE PEOPLE DO NOT OWE AND NEVER DID OWE….THIS IS THE END GAME OF A RULING ELITE PONZI SCHEME SWINDLE AND HEIST OF THE AMERICAN PEOPLE’S PROPERTY RIGHTS………….AN ATTORNEY CONFIRMED TO ME THAT THIS IS ALL ONE HUNDRED PERCENT TRUE…THIS IS AN EVIL PLAN BY THE NEW WORLD ORDER, THE RULING ELITE, THEY USED THEIR WALL STREET PERPS TO RING US UP WITH 140 TRILLION IN MORTGAGE FRAUD DEBT…..WITH NO COLLATERAL TO BACK THAT DEBT UP…..THESE RULING ELITE NWO CRIMINALS ARE STEALING THE HOMES OF THE PEOPLE THEY DO NOT OWN VIA THE BANKS, SERVICERS AND A CORRUPT JUDICIAL SYSTEM……THIS IS A MASSIVE ROBBERY OF EVERYTHING THE AMERICAN PEOPLE OWN…..WAKE UP AMERICA! SPREAD THE WORD…..!!!!

    • lvent says:

      THE GSE’s ARE OWNED AND OPERATED BY THE RULING ELITE CRIMINALS WHO ROBBED AMERICA…..BLOOMBERG REPORTED THE IMF IS THE BIGGEST BONDHOLDER IN FANNIE MAE, YET THEY ARE IN THE PROTECTIVE CUSTODY OF THE U.S. TAX PAYER….AND THEY ARE TRYING TO SAY THE OWN OUR HOMES…THEY DO NOT……THEY INVESTED IN THE MONEY FLOW, THE MORTGAGE, THEY DO NOT OWN OUR HOMES…THE U.S TAXPAYER OWNS THESE HOMES…..THIS IS A SHAM AND A FRAUD…A MIND GAME…..BY THE RULING ELITE WHO DO NOTHING BUT LIE, DECEIVE, CHEAT AND STEAL EVERYTHING AWAY FROM THE PEOPLE…..THEY ARE AFTER NO LESS THAN OUR NATIONAL SOVERIEGNTY…
      THE ILLUMINATI BLUEPRINT FOR ONE WORLD GOVERNMENT ENSLAVEMENT CLEARLY CALLS FOR CONFISCATION OF ALL PRIVATE PROPERTY AND CONTROL OF INDIVIDUAL EARNING POWER…..
      THE 16th AMENDMENT INCOME-TAX TRAP WAS INTENDED TO CONFICATE THE EARNINGS OF THE COMMON HERD, YOU AND ME, A NATIONWIDE TAX REVOLT IS IN ORDER…………..THE RULING ELITE IN ROME COLLECT ALL U.S. TAXES…..THEY HAVE BEEN RULING AND STEALING AMERICA BY SECRECY FOR MANY DECADES!!!!!!!!

      • lvent says:

        LET ME CORRECT MY COMMENT, THE GSE’S ARE IN PROTECTIVE CUSTODY OF THE U.S GOVERNMENT….AND HAVE BEEN EVER SINCE THE MANUFACTURED ECONOMIC CRISIS HIT IN 2008. THE GSE’s DO NOT OWN OUR HOMES AND BUSINESSES, THE U.S. TAXPAYER DOES……..

  3. Readdocs says:

    Goldman, Sachs has also been associated financially with Solyndra, the bankrupt solar
    business.
    “Goldman, Sachs & Co. acted as exclusive financial advisor to Solyndra
    in connection with this loan guarantee application.”
    http://www.zerohedge.com/news/another-popular-name-emerges-solyndra-scandal

    There is no keeping this one dammed up.
    As has been proven historically, someone, somewhere has a copy of every damning
    piece of evidence. So let them shred away.

    • lvent says:

      Readdocs, Bloomberg reported today that Goldman might be breaking up and selling off..I have a feeling Solyndra could just be the ticking time bomb that blows everything wide open.. They are all getting caught up with…

  4. talktotennessee says:

    So will all of the mortgages/notes that support the collateral for these mortgage backed portfolio/products show a chain of title or ownership transfer?
    – – – – NO! They are all in a ‘days’ transfers for MERS database! Right?

    • lvent says:

      talktotennessee, I followed the trail of my own fraudulent loans and found both of them were dumped in a HSBC GLOBAL TRUST…….AND THAT HAPPENED AFTER THE BUBBLE BURST….I see what they did, they dumped all of the toxic crap in a Global Trust…..to try to fix and cover up for all of their fraud and the fact they lent us no money….Dumping fraudulent loans in a Global Trust DOES NOT make a fraudulently induced loan SECURITIZED……That can only be done 90 days from the closing…..Everything they do is a scam and a fraud…..They want us to “think” they are securitized….SECURITIZED is another brainwashing tool the establishment uses to “trick” us into believing lies……97% of the loans in this country are unsecured…….the U.S. TAXPAYER funds and pays for everything…Everything is a ponzi scheme,….The top is stealing from the bottom, that is why we are getting financially raped and pillaged to cover up for all of their fraud……..THE U.S. TAXPAYER IS WHO IS OWED ALOT OF MONEY, NOT THE PRETENDER LENDERS…..SECURITIZATION IS A GIGANTIC SHAM AND A FRAUD……MERS is yet another attempt by the establishment to cover up all of the fraud they committed off of the backs of the U.S. TAXPAYER…..

  5. Not my home your not says:

    I wouldn’t put it past the banks to get rid of the mortgages that have no Notes or allonges pertaining to the mortgages, and may not be even legal to forclosure. Maybe they are dumping the bad mortgages that were forged so the evidence is destroyed before the government had made this deal to keep the banks out of the light of the fraudclosure gate. I can bet the government is trying to keep all the fraud covered up so the TBTF banks are bailed out several more times behind closed doors. Just watch what happens in the following months, you’ll not hear about this again, it will be covered up again by our government to give away more tax money to the banks without anyone finding the man behind the curtain.

  6. Jim Bethea says:

    It just totally amazes me that Fannie Mae, Freddie Mac and Ginnie Mae are still allowed to be promoted as government agencies when they are nothing but a criminal cartel clearing house to further the mortgage & promissory notes sales in collusion with the Tres Dept ~~

    They were allowed to be exempt from the New Financial Reform [BS] that Frank & Dodds Bill laid out ~ What a scam?? [Frank & Dodd are puppets for the big banks and Fed Res] ~

  7. Hell No, No More Blasted Bank Bail-Outs says:

    Well, we could still have a wolf in sheep’s clothing here. If he opens the investigation and then proceeds to do a media white-wash, we will know it was all a scam by his office to provide a pro-bankster media pipeline.

    Issa may have awakened to the fact that the banks many not be able to deliver votes at any cost.

    • lvent says:

      Yes, there is definitely alot of deception going on..They are still trying to get away with it and throwing stuff out there to see what our reactions will be..I will settle for no less than a full loan recission and clear title to my home…The property taxes they collect and the home maintenance costs are bad enough because of what they did….The fraudulent debt they created out of thin air is unsustainable and they are who should eat it….We The People DID NOT AGREE to participate with the suicide bankers 40 TRILLION COLLATERAL FRAUD ECONOMIC BANK BLOWOUT……They took out up to 10 mortgages on each piece of property and robbed us of our weatlh, and still are, to pay for all of their collateral mortage fraud…….They can JAM IT..

  8. leapfrog says:

    I’ve always despised Darrell Issa – arsonist and car thief – but maybe I have to look at him in a new light now…hmmmm. But I also cannot forget he has a staff member who was a former VP and lobbyist at Goldman-Sachs and changed his last name to avoid detection.

    Dare we really hope here? I know the old saying that anyone who pins any hope on politicians is a fool, but I remain eternally optimistic.

    • Jim Bethea says:

      Leapfrog; if you take a close look at all of the really big scam artist and crooks who are either working for the alleged Treasury Dept or Fed Res ~~~~ you will find they all either worked for the Fed Res or Goldman Sachs ~~ Volker, Paulson, Geithner, Ben Bernanke and the list goes on ……….

      • leapfrog says:

        All roads lead back to the Vampire Squid.

      • lvent says:

        leapfrog, that is right, and all roads from there lead to Rome who owns the vampire squid….Goldman Sachs is the one of the largest SMOM/VATICAN/JESUIT BANKING PROXIES IN THE WORLD……..THEY ARE THE OWNERS OF THIS MASSIVE PONZI SCHEME….THEY OWN ALL OF THE PERPS VIA MANY PROXIES…..

    • I believe this is just political theater

      • lvent says:

        All of this crap is a show..alot of b.s…none of these criminals ever thought they would get caught..their owners thought they bought or owned all of the protection they needed…..Well thanks to some really honest American patriots, the jig is up and they ALL got caught and now they are ALL going to have hell on earth to pay for throwing America and the American people under the ruling elite bus…WHAT A BUNCH OF LOUSY, FILTHY DIRTBAG PONZI SCHEMING INGRATES….They all need their butts dragged out into the heart of middle America and be held accountable for what they did….All of them from the top down….They very deceptively used trusted names like GOVERNMENT SPONSORED ENTERPRISES and FDIC insured banks, HUD SETTLEMENT STATEMENTS……TITLE AND TRUST COMPANIES who were supposed to be regulated by GOVERNMENT AGENCIES LIKE THE SEC…..and they used those TRUSTED NAMES to murder America and the American dream…..DESPICABLE and UNFORGIVEABLE…..NOW THEY ARE AT AGAIN WITH THE CIVIL COURT SYSTEM THAT THEY ARE TRYING TO USE JUDGES TO STEAL HOMES AND BUSINESSES FROM THE AMERICAN PEOPLE THAT THEY DO NOT OWN, UNDER THE DISGUISE OF RULE OF LAW…..THERE IS NO LAW WRITTEN THAT SAYS IF YOU DO NOT PAY A MORTGAGE YOU LOSE YOUR HOME OR OR BUSINESS..QUITE THE CONTRARY, THERE ARE LAWS THAT PROTECT THE AMERICAN PEOPLE’S PROPERTY RIGHTS FROM THE VERY PREDATORY LENDING PRACTICE OF SEPARATING THE NOTE AND THE MORTGAGE….WHICH DESTROYS CHAIN OF TITLE AND THEREFORE, NULLIFIES THE LENDERS RIGHTS TO TAKE PROPERTY…….. IT IS ALSO TRUE THAT FRAUD ANYWHERE IN A CONTRACT, NULLIFIES THE CONTRACT…..NOW, JUDGES ARE FORCING HOMEOWNERS TO NEGOTIATE ANOTHER FRAUDULENTLY INDUCED DEBT….WITH NO COLLATERAL TO BACK UP THAT DEBT…IN AN ECONOMY THAT IS CLEARLY NOT RECOVERING……THAT IS MORE FRAUD AND ANOTHER SET UP TO FAIL…….WE THE PEOPLE CANNOT ALLOW THIS…..THIS IS NOT HOW DEMOCRACY IS SUPPOSED TO FUNCTION, THIS IS ILLEGAL TYRANNY…………THESE FRAUDULENT MORTGAGE DEBTS MUST BE EXTINGUISHED, THEY ARE UNSUSTAINABLE…..CLEAR TITLE GOES BACK TO THE HOMEOWNER…..

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