Mandelman | I, Robosigner… A three act play about affidavit fraud in AG Masto’s Nevada

I, Robosigner… A three act play about affidavit fraud in AG Masto’s Nevada

ACT ONE – The shot across all bank bows

As the month of August came to a close, Nevada’s attorney general, Catherine Masto, filed her second amended complaint against Bank of America and friends.  Yves Smith provided the analysis in her post on Naked Capitalism, Nevada Lawsuit Shows Bank of America’s Criminal Incompetence, and all I can tell you is that it reads like a John Grisham or even a Robert Ludlum novel, I don’t know if it quite rises to the level of a John le Carre, but it’s a great read.  Oh, and spoiler alert… there’s going to be a sequel.

She says that the litigation by the attorney general is “significant not merely due to the damages and remedies sought, but because it paves the way for private lawsuits.”  So, that I like the sound of that… private lawsuits are good where Bank of America is concerned.  Here’s what she had to say about the complaint itself…

And make no mistake about it, this filing is a doozy. It shows the Federal/state attorney general mortgage settlement effort to be a complete travesty. The claim describes, in considerable detail, how various Bank of America units engaged in misconduct in virtually every aspect of its residential mortgage business.

The complaint describes abuses from the very outset of the securitization process: how borrowers were mis-sold mortgages (it describes how entire products were effectively predatory), how investors were misled as to their quality, how they were not conveyed properly to securitization trusts, how borrowers were subject to abusive servicing (as in charged improper and impermissible fees), how promises made under the old consent decree regarding mortgage modifications were violated (for instance, even though interest rate reductions were promised, instead modifications often resulted in HIGHER interest rates), and the filing of fraudulent paperwork to execute foreclosures.

Metaphorically, this complaint was a shot across all the bank bows.

ACT TWO – A robo-felony is born

Check out the rest here…


4 Responses to “Mandelman | I, Robosigner… A three act play about affidavit fraud in AG Masto’s Nevada”
  1. Granicus says:

    Are Satisfactions of Mortgage or Release of Liens executed by MERS and signed by one of it’s officers legal in Florida? Recently I came across two of these documents which are recorded in Seminole County, Florida and It dawned on me that maybe Sats and Releases Have no more standing than the foreclosures by MERS. On one of these sats there was a robo signer.

  2. lvent says:

    This woman is a true American Patriot! We need alot more like this lady…The other AG’s are going to have to follow her lead…and end the illegal fraudclosures….If they don’t they will definitely all have egg all over their faces and alot of problems down the road ….The more homes they are allowed to steal, the worse it is going to be when the people come back to claim their stolen homes..THERE IS NO LEGAL FIX FOR WHAT THEY DID NOT DO…If they continue to ignore the massive fraud, they are doing that at their peril..

  3. Ron Moss says:

    Ron Paul is in line to salvage this nation by his knoweldge of the economy I am so thankful for All of you plus Catherine plus M. Andelman plus Nevada Ag’s office NewYorks Ag’ office Delewares Ag office for the courage to argue our Common law from England.

  4. John says:

    I’m shocked an AG would go against a bank or financial institution.
    They have a 98% win rate in Federal Court and unlimited funds to fight with..

    Most won’t fight even if they see and think there has been wrong done as in the past it has been impossible to win.

    This a brave woman! Semper Fi, do or die!

    My hat is off to her.

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