Fraudclosure Radio | Today (1pm ET) & Tomorrow (7pm ET) RI State Senator Moura on Freddie/Fannie’s Manufactured-Fraudclosure Tactics

Thank you Senator Moura!

Calling all Rhode Islanders! Help this woman stay in your legislature. Volunteer and donate to her campaigns. Keep her in the legislature.

Emailed from the good Senator herself.

Hello. As a result of my press release issued last week on Fannie Mae and Freddie Mac, I will be appearing on talk radio twice this week:

Dan Yorke Show: Monday at 1pm (on for an hour by myself)

Matt Allen Show: Tuesday at 7pm (on for an hour with Attorney George Babcock)

Click this link and then click on the big box in the middle of the screen that launches the live online player. For those of you outside RI and unfamiliar with the site, it’s the same site and same procedure to listen live for both shows.

Both appearances are relative to my press release (attached) that I sent Monday night at 11pm. It went viral Tuesday afternoon nationwide and within hours the CEO of Fannie Mae abruptly resigned. I will be addressing my allegations against Fannie Mae and Freddie Mac but also discussing the role the big banks have in using HAMP and their abusive underwriting guidelines as the vehicle to help them rip off our taxpayers by the hundreds of billions. I also plan to give specific examples of this, such as:

-Bank of America, Chase and Wells Fargo have all been denying HAMP modifications for years and eventually approving them once forced to. However, that is after several years of back payments, added fees and penalties added to these loans and it never should have happened.

-US Bank denying a HAMP modification, with their partner Freddie Mac stating the loan did not meet the criteria of “at risk for imminent default”, though the loan is already 90 days past due.

-Bank of America underwriting requiring a single mother, school teacher with an autistic son to submit his medical bills to prove her hardship. This request, brand new after 3 years of applying for modifications, clearly abusive and over-reaching.

This is just the beginning of my public assault on them. Stay tuned, as I will be speaking with the FHFA this week (they oversee Fannie and Freddie) as well as the Dept. of the Treasury Office of the Comptroller of Currency to publicly holding them accountable. They denied HAMP modifications for borrowers who qualified. They should be forced to roll those loan balances back to what they were when the applications were initially submitted. That is going to be a very brutal, public battle. Stay tuned!

Senator Bethany Moura (R)
District 19 (Cumberland/Lincoln)



RI Senator Beth Moura’s Freddie/Fannie Fraudclosure Press Release

3 Responses to “Fraudclosure Radio | Today (1pm ET) & Tomorrow (7pm ET) RI State Senator Moura on Freddie/Fannie’s Manufactured-Fraudclosure Tactics”
  1. lies is all they tell says:

    I know some people take drugs illegal or by RX but roll back modifications when we all applied for hamp? what about the mortgages that have already been foreclsoed and the ones in the can right now?? sorry but a roll back is not the answer few things someone must let this woman know from the people in the know we all must write her.
    1 the banks used our signature to obtain the credit to pay that is why there are no origial notes they were sold to the fed a cashed check. we all thought a promissory note is kept in the vault until we pay. not so as we learned.

    2 to get us all to the position to sign these mortgages many things came into play. mortgage application fraud, appraisal fraud and many other types of under handed ways to get us approved. for one my husband was unemployed so he is not on the mortgage and i didnt make enough to pass the under writing computer program so a little here will never be detected by the homeowner so happy at closing they will sign anything put in front of them. That is illegal and fasification of documents. it was only initialed not signed. the judge can ask if there was a meeting of the minds and i just have to say (or my lawyer )no. i submitted paycheck stubs and w2 forms all of which needed to be verified to be approved for a mortgage that was 1/4 of a million dollars.

    3 since none of the banks had any skin in the game and were cashing these notes in for money anyone was approved for mortgages. Even though we were taught to trust the bank. all of us merely applied for the mortgage if we could not afford that would have been a better fate then this

    4 since the banks already cashed in the note for money they do not have them and can not submit them. they have to be fabricated. what is a best way to get a signature but approve a modification that they know will also fail and wala we have a signature. only problem the signature was not from the original closing . the tyoed info included my middle initial the signature does not. its called robosigning bloopers.

    5 banks bought an insurance called credit default swap insurance. it is insurance on mortgages that are defaulted. so our mortgages were designed to default for them to collect the insurance which is paid at summary judgement. hence the lost paper work, the denials of modifications. telling homeowners not to pay their mortgage. FORECLOSURE IS MORE PROFITABLE THEN MODIFICATION

    until we get congress and the judicial system on our side this horrible attack on us will continue

    • Al Smith says:

      This is happening to us as I write this. They approved us for more than we could afford, then raised our payment by more than a thousand dollars a month because they said we were late with a payment. this was impossible for us to pay. Residential Credit Solutions bought our mortgage and is now foreclosing. All our attempts to contact them to try to modify our mortgage went unanswered until it was to late.

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