Fraudclosure | Remarks By John Walsh Acting Comptroller of the Currency Before The American Banker Regulatory Symposium Washington, D.C.

Good afternoon. Thank you, Rob, for that kind introduction, and thank you for inviting me to participate in this important symposium. Many months ago, when I agreed that the OCC would participate in this program, I did so with confidence that a new Comptroller of the Currency would be nominated and confirmed, and I would never have to write a single word to say to this audience. But the process did not work quite as I anticipated and here I am.

Nice way to start off the speech…

Great job Johnny boy…

Full remarks below…



Remarks by John Walsh

4 Responses to “Fraudclosure | Remarks By John Walsh Acting Comptroller of the Currency Before The American Banker Regulatory Symposium Washington, D.C.”
  1. N.light says:

    A time frame, well because they were not quite as clever as they are after Dec. 31, 2010. The fraud was more apparent then, now they are fining more clever ways to foreclose. They think that they are covering their basis since then, but they are still using robo-signed documents and they are still using bogus assignments, and the OCC knows all about it, yet they are not trying to put a stop to it.

    Going back and finding ways to review the past foreclosed cases is fine, but they will be putting those same homeowners through another wringer in order to qualify for any restitution! If they are saying how difficult of a task this will be then why don’t they put a stop to the madness and stop the foreclosure now and review them before they are filed, that would make more sense and less time consuming.

    The fact that they are admitting wrong doing and misrepresentations and of course fraud by the banks is enough to fully investigate those banks and see to it that they are governed properly and punished accordingly.
    What are they going to do with those being foreclosed on since Jan., 2011 up till now and beyond, this process may take to the end of the century to get resolved, meanwhile, the economy will stay where it is or dive farther into oblivious.

    people filed complaints with the OCC including me on several occasions asking them to look into the matter before the foreclosure process began but they ignored it, they did nothing knowing that the bank is using fraudulent documents to foreclose, and the loan is not in default, and they did nothing; go figure!

    Their job is to over see, enforce regulations, look into what banks are doing, prevent such crime and such misrepresentations, and protect consumers, but that would mean they have to do their job. What really gets me is that all these organizations knew what these financial institutions were doing long ago, and till now they are still allowing them to function in the same manner without putting an end to it, What’s that say for them and for our government?

    they should not be worried that the people are losing trust, people who lost their homes, their shelter, their income, their health and in some cases their lives, you better believe that they lost trust and faith. How can we ever forget and forgive these monsters for stealing our dreams and our hopes and our children’t future. It’s not just the homes that were foreclosed on, the doors and windows of our economic stability and future were also foreclosed upon!

  2. Jeffrey Donnilon says:

    This crony won’t do anything but the Banks work. That’s what the OCC is, a Bank Owned Government agency.
    Obummer says that Banks and Financial Institutions were “immoral” in a weekend where he didn’t annouce killing someone important overseas. What a terrible tragedy, these idiots are watching the country explode. And vultures have the criminal right to steal land coast to coast.

  3. Katheryn says:

    It all sounds like the same BS….”recklessness”. They will never admit that it was all a planned and well orchestrated event. How did they determine the dates for qualification? What happens to all those who fall before or after their chosen time frame to be eligible? Same ole same ole garbage in garbage out.

  4. Michael Olenick says:

    Obviously, I don’t trust the reviews .. so much so that I’m creating a tool allowing the public to “review” lots of paperwork to refute when they presumably say there were no problems. But, at least, the clarification that the reviews will be foreclosures active during the time period — not initiated during that time frame, but active — does help expand the scope to a more reasonable level. I don’t know why they have a time-frame at all though.

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