A shrill SHILL | Diana Olick – “The bottom line is that the vast majority of the foreclosures were and are valid”

“The trouble is, after going over these cases, the bottom line is that the vast majority of the foreclosures were and are valid. People didn’t pay their mortgages.”

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‘Robo’ Foreclosure Settlement Turns Political

For over a year now, state attorneys general have been negotiating some kind of settlement deal with the nations four largest lenders, as well as several smaller ones.

The settlement pertains to faulty foreclosure processing, first uncovered in October of 2010 and now commonly referred to as “Robo-signing.”

Rather than dozens of lawsuits, the states initially were looking to assess one great punishment on the lenders and thereby appease borrowers who felt they were wronged. The banks were looking for wider immunity from securitization issues, and that is largely what has held up the negotiations for so long.

Now, suddenly, after umpteen “we’re close to a deal”s, apparently we’re now really close to a deal, largely because the State of the Union address is next Tuesday, and this is an election year. So at a meeting of Mayors Wednesday, the Secretary of Housing and Urban Development, Shaun Donovan, mentioned that a settlement would include principal reduction for about a million borrowers.

“With few other tools to help housing, the administration sees the deal as a way to take credit for helping underwater borrowers without exposing taxpayers to loss,” says Jaret Seiberg at Guggenheim partners, noting that the deal may not fully be in place by Tuesday, but a “framework” could be announced. “If this deal does score enough political points, then it will dampen calls for the administration to roll out more housing help such as a mass refinancing. As we remain dubious about the real impact of a deal, our view is that the administration will face pressure this spring to do more. That means more refinancings of GSE loans will still be on the table,” he adds.

Check out the rest here…

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4closureFraud.org

Comments
18 Responses to “A shrill SHILL | Diana Olick – “The bottom line is that the vast majority of the foreclosures were and are valid””
  1. Katheryn says:

    Getting down to the most basic of contract terms – I had no knowledge what my signature was going to be used for nor did I have any idea, whatsoever, of the scam and fraud used to induce me under duress and promises of a loan mod, to enter into the contract. The bottom line is I would NEVER have signed any such agreement had the real terms of the mortgage as well as the real players been disclosed. That, folks, spells fraud in my book. If any of these scum buckets had been tricked into any kind of a contract, they would be the first ones litigating and crying it was “unfair”. This woman can go stick her head where the sun don’t shine. Same with the scum bag politicians. The majority better wake up!!!!!

    • lvent says:

      Right Katherine…they meant to deceive….and they never sold the mortgages..just an interest in the money flow the note generated……AKA…..the mortgage payments….they oversold those investments by $700 TRILLION..That is no doubt why they did not deliver the notes to the trusts…..and used MERS…to hide what they were doing……that is how they were able to oversell and create massive mortgage fraud debt…

      • Katheryn says:

        @Ivent

        I’m not sure if many people are aware of how bad it really is. I’m going to have to change my name on here. I’ve been posting here and hanging out for a while now. I am a pro se because no one is willing to help me. They (an un-named bank) did not like my motion to compel and have threatened me with filing suit for “public defamation”. That was last week. In addition to their court noticed attorney of record, I have also gotten letters and threats from three other attorneys after being noticed to deal with the one on record. The attorney that sent me a collection letter back at the end of May had attached an assignment of mortgage from Bank of America to BAC. My property is in Delaware and the assignment was faxed to a company in Pennsylvania as well as notarized in PA. As I am always researching stuff on the net, I ran across someone else looking for the Assistant Vice President who executed the assignment of my mortgage and ended up following a trail that took me from one place to another. I believe I stumbled on a company that is robo-signing just like the story on 60 minutes. I first called the notary and simply asked him to tell me what ID he uses to verify the document. I then called a phone number, that I stumbled upon in my web search, and asked for this VP telling the woman that I needed to speak with him. She was very guarded and I told her I had a right to know who the person is that assigned my mortgage and I wished to speak with him. Keep in my what I said previously, this document was sent to me by an attorney in Baltimore, not the attorney of record. Well, today I got a very threatening cease and decist letter via email from the attorney of record stating I better not ever contact anyone working for or in relation to etc., etc.

        First, they gave me no discovery after running me in circles for four months. So I say OK., fine, and I file a motion to compel. One part I left out was the attorney asked me to withdraw my motion to compel or I would be in trouble is what he insinuated. I refused and that is when he said that the bank would consider their options as to how to handle the “public defamation” I had caused them. RIGHT I told the lawyer bring it on. But now ordering me basically a gag order without a judge is beyond my comprehension. This is no longer America and we have no rights at all. I feel as though I have somehow been transported back in time to Nazi Germany. I will be putting together a package to send to the press, the American Civil Liberties org., and any where else that I can bring this to someones attention. This “shady” operation they’ve got going on in Pennsylvania needs to also be investigated. Something really fishy going on there. I am really starting to be truly fearful. The threats are escalating in nature. Very frightening.

      • lvent says:

        Katherine..the bank is threatening you…? or the bank attorney…?…..the bank attorneys are fraudclosure mills too…. I wish they would threaten to sue me…..they will lose….I have undeniable proof of their fraud….and they know it…they want you to back down…it could be the Italian in me but, if they were threatening me I would name the Bank…the attorney….and any other individuals who are threatening me…everyone should tell their story and expose these crooks….by name….screw them…..

    • Shelley says:

      Here Here! Another Pam Bondi grupie! Either they are ignorant, stupid, their heads are in the sand or both their heads are seeing from the same point of view from inside Pam Bondies A** . This is so frustrating to see this kind of ignorance. Is it just that hard to see the fraud when you are not wearing the same shoes, or is there that many S.O.B’s out there ready to make false claims without knowledge and investigation into the biggest crime ever in our history? Or just so heartless and cold they dont give a care and they use the same language! They did not pay their payments. Who should pay someone they dont owe? Who should pay fraudsters? The fraudsters dont own the loans, the investors they screwed owned the loans. No body owes the debt collectors one dime. and we would really like to know what investor what retirement we owe. We dont owe the crooks! And by law we dont owe a single payment to anyone whom committed organized controlled fraud upon us. There is endless stupidity or endless criminals with a mind set I choose not to understand, just like criminals on the criminal minds tv program. God help us all for having to deal with criminal minds!

    • Bloodsoaked says:

      That’s the problem Katheryn Says. They all have there heads up each other’s asses to hide there faces like some BIG CORPORATE POLITICAL TOTEM POLE used to screw the American People up the ASS. And the face at the top is a mask worn by the 1% ELITIST!

  2. readdocs says:

    It will take millions more to lose their homes to fraud before the public really wakes up.
    The following will need some assembly.
    Rope, tree, tar, feathers, and rail road ties.

  3. Tien says:

    what happen to Lisa and Mike Radio show on Sunday? I miss your show it was somuch good information for we are home owner?
    Thank You so much for you Guide doing the God work. it so care for our right.
    Tien

  4. lvent says:

    Without exposing tax-payers to loss? Ha..they robbed the middle class blind and still are..! effing liars!

  5. Marianne says:

    Yeah well i am one of those people who paid my mortgage every month and didnt know i was in foreclosure till the person who bought my house knocked on my front door. Yes, people i didnt know i was in foreclosure my bank kept taking my payments and paying flood, homeowners ins, taxes. So fraud is out there and these people better get used to it. Fraud was committed here to all of us and I mean everyone who were victimized by these banks

    • lvent says:

      CNBC anchors and Olick talking about the moral hazard of writing down mortgages…one anchor said but people are walking away from paying……! Yep…CNBC reported last week that 40 million homeowners are 60 days late….! Could a nationwide strategic default be looming?????

      • lvent says:

        An attorney told me in the fall of last year that the more people that go into foreclosures will mean no one is in foreclosure……I think it is coming….esp. when the media is talking about our morals.. when the people know it is the banksters and the politicians who have no morals…!

      • lvent says:

        I think there is a tsunami of defaults coming their way soon…and they know it..many who are still working are making less…and have to make a choice between paying an underwater mortgage or feeding their families and keeping on the lights and heat…the cost of living is astronomical because of what these crooks did….everyone is paying for the fraud in everything the do..!

      • lvent says:

        Sheila Baird is going to be on CNBC st 4:30 to discuss breaking up the TBTF…

  6. lvent says:

    Here is another shrill shill..Charlie Gasparino of Fox Business talking about the robo-signing deal and saying homeowners who are delinquent do not deserve debt forgiveness..
    http://video.fox business.com/v/1402812805001

    • lvent says:

      LOL..looks like they dont want us to see it..google the words Charlie Gasparino of Fox Business talks about robo-sigining deal…this video is from yesterday… Jan 19th 2012.

  7. Bobbi Swann says:

    I read the comments on the link page and I am still amazed at how ignorance is so rampant! Most of the posts are just way out there; not really knowing the facts but believing the mainstream media reports! This reporter still refuses to use the words “fraud” and “forgery” and what a joke he/she is that they have a job to report news and does such a spin. Honestly, I don’t know how some of these people actually sleep at night. I do, however, think that this reporter has posted on this website before and was blasted.

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