Criminalizing Mortgage Delinquency | Bailed Out Wall Street CEOs of Recidivist, Predatory Financial Institutions Blame Homeowners in Foreclosure Fiasco

“Your mortgage didn’t get to a robo-signer by accident, it’s because you’re not paying.”


Wall Street blames homeowners in foreclosure fiasco

(Reuters) – Wall Street’s reaction to the allegations that some banks cut corners while foreclosing on 3 million homes since 2007: Pay your mortgage in the first place.

Some quotes from the asshats in the article…

“If you didn’t pay your mortgage, you shouldn’t be in your house. Period. People are getting upset about something that’s just procedural.”

Walter B. Todd, III

Walter B. Todd, III, Principal
Greenwood Capital Associates

“Everyone’s responsible for following the law. If we all don’t have to pay our mortgage, should we just stop paying taxes, too?”

“Your mortgage didn’t get to a robo-signer by accident, it’s because you’re not paying.”

Anton Schutz, President
Mendon Capital Advisers.
(585) 770-1770

“We’re not evicting people who deserve to stay in their house.”

Jamie Dimon, CEO
JPMorgan Chase

“We’ll go back and check over our homework one more time.”

Brian Moynihan, CEO
Bank of America

Read the article, if you can stomach it, in full here…

The executives for the largest lenders and others on Wall Street have downplayed the worries over foreclosures as nothing more than a technical speed-bump in a process that’s still accomplishing its main objective of removing delinquent borrowers from their homes.

This is what happens when there is great financial reward (bail outs) and total lack of deterrents (prosecution). The predators and criminals are emboldened, strengthened, and more confident as they marginalize, stigmatize their victims in a outstanding display of hubris. Imagine the same propaganda being spread about the millions of Americans standing in the soup lines of the Great Depression. Remember that child homelessness is up 33% since 2007. The elites hope we do not make these connections as we refuse to be labeled as deadbeats and criminals.


6 Responses to “Criminalizing Mortgage Delinquency | Bailed Out Wall Street CEOs of Recidivist, Predatory Financial Institutions Blame Homeowners in Foreclosure Fiasco”
  1. Liz says:

    My email to Mr. Moynihan:

    Brian Moynihan, CEO
    Bank of America, N.A., Loan Servicer

    Good morning, Mr. Moynihan and happy Holiday Season!

    My family wishes you and your family very happy Holiday Season and Happy Files’ Processing.
    Look, we honestly need your happiness and well-being.
    It looks that recently you and all at Bank of America, N.A. have somehow gotten really upset.
    And when the Servicer gets upset all servicing (in its true meaning) gets upset, slows down, and turns into non-existent.
    The public at large, and especially the recipients of your services, might think that your actions, or rather inactions, have been done on purpose to stall the recovery process.

    Not my family.
    I honestly think that it is the Holiday Season to blame and not the very dedicated and hard-working staff at your bank and specifically at the Office of the CEO and the President.
    They (I mean ALL of them who were working with the file) would review, make their decisions in a matter of few days, and notify us.
    They would look for solutions.
    They would correct ALL discrepancies made before, apologize for making them, name the sources and reasons for mistakes, and avoid making them again and again and again.
    They would follow ALL the government and business guidelines.
    They would timely answer All the questions in writing.
    They would be responsible and accountable in the business sense.
    They would, of course.
    But they just cannot for three main reasons.
    1. Too many holidays, weekends, days off, meetings.
    2. Too many (that translates into no one) in the chain of responsibility and accountability.
    3. They are not allowed. Otherwise, they will be fired. By YOU!

    That is why my family needs your well-being and happiness.
    Only in this state you can really order and supervise, ask results and enforce responsibility, utilize and follow your own and government directives, and generally be human, do your “homework”, and use a common business sense for all you say and do as the CEO of the Bank of America.
    Which somehow has been expected from the executive of your level from the day one.

    Again, my best to you, your colleagues, and their families.

    Sorry, no bonuses from us this time.

  2. IMHO says:

    Hey you assholes , we have your addresses , maybe you outaa eat a big piece of shut the fuck up , amazing what a .223 or . 308 does , you want to talk tough guy shit ????? meet me , name when and where , while you were profiting off TARP , phony investments ans god only knows what else, we were worried about , food jobs and our families . I sold EVERYTHING except my rifles , and baby , I am dead on out to 1500 yds w/ my 308 , oh moynihan , I know where that starbucks is you stop at fuck tard . So keep pushing us to our limits and see if we give up on the ” legal” way and do the old time way . I used to be scared of a car in my driveway , now maybe you should be scared of mine in yours.

  3. indio007 says:

    “We’re not evicting people who deserve to stay in their house.”
    Jamie Dimon

    I Guess he forgot about this …
    I really hate this guy.

  4. Dear Asshats,

    You fail to connect the dots where loan “servicers” (aka pretender lenders) tell homeowners:

    *You need to stop paying your mortgage in order to receive assistance
    *You need to re-fax your trial mod application – we never received it
    *Please send the info again, we never received it (umpteen times more)
    *Your offer to pay is not accepted by the “investor”
    *Your short-sale contract is not accepted by the “investor”


    It shows mal-intent at the very least and perhaps Racketeering at best. If the standard practice was to lie to homeowners in order to initiate default then there are some serious issues that need to be addressed.

    Asshats (aka loan servicers) caused this mess by playing games with people, telling them to stop paying, losing mod apps again and again, failure to review & approve bona-fide arms length transactions that would put a borrower in a position of obtaining a PROPER EXIT. All to collect CDS payments at 30x value conservatively and cop a free house.

    They (loan servicers) screw with the AMERICAN PEOPLE because they can and they’ve been allowed to get away with it Scott Free. Their idea of a solution is to sell the home on the courthouse steps for pennies on the dollar, title flaws and all… rather than admit there’s an issue with chain of custody of the note and mortgage.


    Research shows that (by and large) mortgage assignments “into” these trusts never took place. Transfer of the original mortgage and note is stipulated in just about every Pooling & Servicing agreement I’ve read. The custodian or trustee is supposed to have possession of the original note and mortgage and assignment of mortgages are to be recorded conveying the security instrument. But its awful hard to get away with counterfeiting notes and selling them into multiple pools and insuring them with multiple sets of credit default swaps if they were to play by the rules.

    So the investors who put up money get burned. The borrower who puts up money gets burned too. But the middle-men who structured the ponzi scheme collect from the Federal Reserve, Credit Default Swaps at 30x value (AIG), TARP, AMBAC, MGIC, Creditors Rights policies on Title Insurance (which title insurers have wisely stopped issuing) & have likely gone back to the originators and collected money from them for selling them bad/defective loans while stiff-arming investors for their losses.

    Collecting 3 or 4 times over AND confiscating houses for free, just to cover up the faulty title work… Priceless!!!

    If the securities were legit, we would see no “lost note” counts, no fake “robo-signed” assignment of mortgages and the “original” notes that were surrendered to the courts would look their age – not arrive on brand new paper with bright blue ink that looks like it just rolled off the shelf at Office Depot.

  5. Jeff Burns says:

    These people of course, are insane. Rich, but completely crazy. Sympathy is required, and one day medicine may find an effective treatment available for their greedy malignancies.

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