FAIL | Reports Fault Regulator of Fannie, Freddie

“Fannie’s internal review found no evidence that homeowners had been improperly placed in foreclosure, but it said that foreclosure attorneys working on Fannie’s behalf in Florida had “routinely made” false statements in court in an effort to more quickly process foreclosures, among other warnings”

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Reports Fault Regulator of Fannie, Freddie

Regulators don’t have enough examiners for mortgage-finance giants Fannie Mae and Freddie Mac, and have struggled at times to develop risk controls for the companies, according to two reports to be released Friday by the inspector general of the Federal Housing Finance Agency.

One of the reports implied that better risk controls at Fannie Mae could have helped avoid potential foreclosure abuses that erupted into public view a year ago, forcing banks to slow down and revamp their mortgage-handling processes.

The inspector general reached that conclusion because it said Fannie missed deadlines set by its regulator, the FHFA, to implement an operational risk-management program. Those failures, it added, had potentially prevented the company from addressing problems identified in an internal Fannie review from 2006 on potential foreclosure abuses by law firms that handle foreclosures.

The FHFA disagreed with some of the inspector general’s findings and allegations.

The 2006 review was conducted by an outside law firm for Fannie after a shareholder raised concerns about the industry’s foreclosure-handling practices. That report’s findings were first reported by The Wall Street Journal in March.

Rest from the WSJ here..

The shareholder who raised concerns…

Our friend Nye Lavalle…

His 2004 REPORT ON PREDATORY LENDING & SERVICING PRACTICES & THEIR EFFECT ON CORPORATE
COMPLIANCE, CONDUCT, ETHICS & ACCOUNTING is below…

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4closureFraud.org

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2004 Report on Predatory Lending & Servicing Practices & Their Effect on Corporate Compliance, Conduct, Ethics & Accounting

Comments
14 Responses to “FAIL | Reports Fault Regulator of Fannie, Freddie”
  1. Jeff Fronglet says:

    Foreclose on me, destroy my family, make it hard, destroy people.

  2. Susan Fraud says:

    Fannie Mae is investor owned – know your enemy.

    • lvent says:

      Know your enemies is right on…..! Look at what is says on that money….NOVUS ORDO SECLORUM..NEW ORDER OF THE AGES/New World Order…..In God We Trust……means to them In Vatican We Trust….The vatican owns and controls the money system via the World Bank and the Federal Reserve, Central Banks……Wall Street and the Banksters were the perps and the scapegoats for the NWO…….Just like in Nazi Germany they blamed the Jewish Banksters…when the real culprits were hiding behind the scenes in Rome….Bloomberg reported that the biggest investor/bondholder in Fannie Mae is the IMF….who owns the IMF?…The World Bank…who owns the World Bank? THE SMOM/VATICAN/JESUITS AKA THE UN/NWO…They own Wall Street via many proxies…..Who owns Goldman Sachs? Goldman Sachs is one of the largest SMOM/VATICAN/JESUIT banking proxies in the world…They were also the most overleveraged before the intentional stock market collapse, Goldman Sachs was overleverated 333:1…..that says it all that all=EVIL……

  3. Charles says:

    let us not forget Freddie and Fannie originated MERS along with the banks in 1994. Then dropped their membership this year once all the lawsuits were being filed against them. They will continue to lie just like the banks.

  4. woodknot says:

    STOP PASSING THE BLAME ! WE WANT SOLUTIONS ! There is not enough time to LIST ALL RESPONSIBLE
    Enough Investigations Enough Lawsuits-we all know the Why, Where, How – Securitization caused this Systemic collapse of our Economy stole our homes & Jobs…….FIX IT !
    It is time to enforce regulations-it is time to come to a SOLUTION !-FIX IT
    There has been enough Law Suits, Investigations of Investigators ! ENOUGH FRAUD & LIES-FIX IT
    It is TIME FOR ACTION NOW- !!!!!!!!!
    SHUT UP ABOUT WHO CA– USED WHAT WHEN WHERE-ALL GOVERNMENT AGENCIES ARE RUN BY THE FED-SO COME ON FEDERAL RESERVE- TREASURY-you may as well FIX IT-you CA– USED IT

    • Tommy Joe Donilon says:

      The Justice Department needs to go after… oh the hell with it. They too, are bought and sold. Who else is seriously worried about tomorrow? We have a Government and leading “business men” who have repeatedly said people deserve to be put on the street. There is no way are people going to take this much shit peacefully, and the corrupt pigs are aware of this too!

      • lvent says:

        Oh yeah, they are….The DOJ is all in on FRAUDCLOSUREGATE…….THEY ARE COVERING THE U.S. TREASURIES ASSES AND CONgress’ ASSSES…SO IS THE FEDERAL RESERVE, BY CREATING MASSIVE INFLATION AND DEFLATION THEY ARE TRYING TO MAKE US BELIEVE WE ARE BROKE WHEN IT IS WALL STREET WHO OWES THE MASSIVE 140 TRILLION COLLATERAL FRAUD DEBT……..If and when the truth gets out that all of our homes are paid for they know it will be chaos…..and they are preparing for that chaos…..WE THE PEOPLE MUST CREATE A PEACEFUL UNITED FRONT…………THE TRUTH NEEDS TO GET OUT TO ALL OF AMERICA THAT THE PRETENDER LENDERS are who were lent the money from the U.S. TREASURY, and the U.S. TAXPAYERS SIGNATURE COLLATERALIZED THE DEBT AND THE AMERICAN PEOPLE PAID FOR THEIR HOMES WITH TAXPAYER DOLLARS….AND WALL STREET IS WHO CANNOT PAY THEIR BILLS BECA– USE THEY WERE ALLOWED TO OVERSPECULATE AND OVERLEVERAGE (A NICE NAME FOR FRAUD) OUR COLLATERAL, OUR HOMES, TO FUND THEIR MASSIVE PONZI SCHEME…..140 TRILLION IN DEBT THEY CREATED FOR THEMSELVES WITH 13 TRILLION IN COLLATERAL, OUR HOMES, THAT WE PAID FOR…….AND WALL STREET and all of their minions and cohorts ARE WHO CREATED THIS UNSUSTAINABLE DEBT……..THIS WAS A RULING ELITE PLAN INSTITUTED BY THEIR OLIGARCHY, BEGINING WITH FANNIE AND FREDDIE…..AND THE IMF IS WHO ACTUALLY ARE WHO ARE TRYING THEIR DAMNDEST TO THROW AMERICA UNDER THE BUS….. THEY WANT TO MAKE ALL OF US BELIEVE THEY OWN OUR HOMES BUT THEY DO NOT OWN SHIT…OUR HOMES ARE PAID FOR, AND ALL THEY INVESTED IN WAS THE MONEY FLOW…….THE MORTGAGE……IT WAS A GAMBLE AND THEY ARE THE LOSERS….NOT WE THE PEOPLE….THEY WANT TO MAKE US “THINK” WE OWE SOMEONE THIS MONEY BUT THAT IS A BIG MANUFACTURED LIE AND THIS WAS A BIG MANUFACTURED, FINANCIAL CRISIS……….CREATED BY THE NWO VIA CONGRESS IN ORDER TO STEAL OUR WEALTH AND THEN OUR COUNTRY……DO NOT BELIEVE THEIR LIES..THIS IS AN ATTACK BY THE RULING ELITE ON THE LITTLE GUY…THIS IS MASSIVE NIETSZCHE STYLE CLASS WARFARE RIGHT OUT OF THE NAZI PLAYBOOK……..THEH TRUTH IS, OUR HOMES ARE PAID FOR FREE AND CLEAR….THE PROOF IS IN THAT STAMPED PAID COLLATERAL DEED YOU HAVE IN YOUR POSSESSION AND HAVE HAD SINCE THE ORIGINATION……..FRAUDCLOSURES ARE AN ILLEGAL SHAM AND A FRAUD… A MIND GAME…..THERE IS NO LAW THAT SAYS IF YOU CAN’T PAY YOUR MORTGAGE, YOU LOSE YOUR HOME….THE PRETENDER LENDERS FRAUDULENT CONTRACTS ARE NULL AND VOID…SPREAD THE TRUTH TO EVERYONE THAT YOU KNOW!…..WE THE PEOPLE CANNOT LET THEM GET AWAY WITH THIS EVIL NWO PLAN TO STEAL AMERICA……..!!!

  5. Readdocs says:

    Fannie Mae failed her contract with the public and the government.
    In 2000 FM discovered one of the countrys’ largest warehousing
    mortgage companies, Taylor,Bean,&Whitaker, was committing
    fraud. FM failed in its lawful responsibility of reporting the fraud.
    Instead FM quietly cut all business association with TBW.
    Within a week TBW was doing business as usual with Freddie
    Mac and Ginnie Mae. In 2002 TBW was put under investigation,
    and then allowed to run lawlessly until August 2009.
    How many people were financially ruined by this lawless group
    before they were shutdown?
    In the prosecution of TBW there has been no hint of prosecution
    of those responsible at Fannie Mae who allowed this lawlessness to
    continue to run rampant through thousands of lives, as well aiding
    and abetting in breaking of the law.

    • lies is all they tell says:

      tou know what taylor bean did?? the same as all other mortgage companies they forged the amount people made on the mortgage applications. it was easy especially to do to nurses and especially if the nurse was moving from out of town so all documentation was sent in the mail and the mortgage application was the last form to sign at closing. i figured it out. nurses who are hourly employees and whats called “per diem” or “pool” still make a good yearly income but they way the mortgage comapny learned to cheat is pathetic. you see full time for a nurse is 36 hours per week. and some nurses get cancel for low census. so when the figures the salary (even though told i am a contract employee) the used a 40 hr work week. they learned how to add to the real salary so no one would notice. if you add less then 1k it does not change the montly salary of lets say 4k. this was done to unsuspecting nurses. whom now their spouses can not find work and am finding it difficult to make a payment based on false information. and lets not forget the appraisal fraud, securities fraud, origination fraud. whom ever is on the mortgage did not fund the mortgage. the real entity who funded the mortgages was left out on purpose so we would have no clue what was happening. sad part is taylor bean was not the only entity that did all these crimes they all did this why are they not in jail and we are losing our houses.

  6. lvent says:

    Bloomberg reporting Solyndra CEO and cohort, pleads da fif….to CONgress…..See the funny video by Dave Chapelle….http://dailybail.com/home/dave-chapelle-on-white-collar-crime-i-plead-the-fifth-video.html
    Bloomberg also reporting….IMF chief Christine Leguarde says downside risks in the economies threaten the Global Economy…..God Bless America…!

  7. Maggie May says:

    DO YOU EVER REPORT HOW CLOSE MEDICARE FRAUD AND BANK FRAUD ARE RELATED???? IS THIS HAPPENNING IN LONDON AND SCOTTLAND TOO?

    • lvent says:

      Oh yeah, everything is a Ponzi Scheme with taxpayer dollars….The pigs at the top who collect the tax money are REDISTRIBUTING OUR STOLEN WEALTH AROUND THE WORLD TO ALL OF THEIR CRIMINAL FRIENDS AND MAKING ALL OF US PAY FOR ALL OF THE MISSING MONEY THEY STOLE AND STILL ARE STEALING….BECA– USE OF THAT THEY ARE INTENTIONALLY WEAKENING THE CURRENCIES TO MAKE US WEAK………ALL OF THE TREASURIES AND BONDS THE RULING ELITE OWN ARE BACKED BY OVERSPECULATION CREATED BY OVERLEVERAGING OF ALL OF OUR ASSETS…….THEY HAVE MANUFACTURED THIS WHOLE CRISIS…….AMERICA IS NOT BROKE, THE OLIGARCHY IS……

      • lvent says:

        The sooner the people wake up and realize, everything the Government(s), the media, the legal system tells us are all manufactured lies…..and they are not our friends……at all, the sooner we all get to the truth…..that they all have owners, not WE THE PEOPLE, the sooner AMERICA will begin to recover from this Global ruling elite plan and this manufactured entire crisis.

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