MBIA Tells Judge of Newly Uncovered Countrywide Fraud Database

MBIA tells judge of newly uncovered Countrywide fraud database

I sure hope the Securities and Exchange Commission and other members of the new joint mortgage-backed securities task force are paying attention to the docket in MBIA’s New York State Supreme Court fraud and breach-of-contract suit against Countrywide. On Wednesday, MBIA’s lawyers at Quinn Emanuel Urquhart & Sullivan sent a letter to Justice Eileen Bransten requesting that she order Countrywide to produce discovery on an internal fraud-tracking database “which MBIA had not previously known to exist.” MBIA said it needs the discovery to prepare for upcoming depositions of former Countrywide employees who tried to expose its allegedly fraudulent mortgage underwriting practices, including the well-known whistleblowers Eileen Foster and Mari Eisenman.

I’ve said it before and I’m sure I’ll say it again: Everyone pursuing mortgage-backed securities issuers owes a big debt to bond insurers, who were the first to file MBS suits and have fiercely litigated them for the last three years. In addition to records of the mortgage-fraud database, known as FACTS, MBIA wants Countrywide to turn over the employment files of “two former Countrywide loan officers whose fraudulent activities were initially covered up due to their profitability,” and records of senior executive committee meetings that “should show that Countrywide deliberately passed on riskier loans to the secondary market while retaining safer loans for itself, again in violation of its representations and warranties.”

Rest here…

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4closureFraud.org

Comments
4 Responses to “MBIA Tells Judge of Newly Uncovered Countrywide Fraud Database”
  1. Bloodsoaked says:

    Ivent: are getting soft? Thrown Out? They need to be berried. I’ve got the rope you guy’s pick the tree.

    • lvent says:

      Bloodsoaked …have you not read my recent comments….??? It is true, I didn’t finish that comment off proper …you are right…I should have said OFF WITH THEIR HEADS.!!!!..THEY DO NEED TO BE HELD FULLY ACCOUNTABLE…BY WE THE PEOPLE…THE ONLY REAL AND TRUE OWNERS OF THIS PLACE AKA THE UNITED STATES OF AMERICA….ONE NATION, UNDER GOD,WORKING AS ONE INDIVISIBLY … WE THE PEOPLE CAN AND WILL RESORE FREEDOM, LIBERTY, JUSTICE AND PROSPERTY FOR ALL…!!!!..AKA GODS PLAN FOR MANKIND…GOD BLESS AMERICA…..!!!

  2. lvent says:

    SEC..EYES COVERED…CHECK…MOUTH COVERED …CHECK….EARS COVERED…CHECK. If the SEC RECOGNIZES ANY CRIMINAL FRAUD…THEY WOULD BE ADMITTING TO TURNING A BLIND EYE TO….BECA– USE THERE IS NO WAY THEY COULD HAVE NOT KNOWN ABOUT IT ……. SO THEN THEY WOULD ALSO BE A PARTY TO IT…THE SEC SHOULD BE UNDER CRIMINAL INVESTIGATION AS WELL…THE MORTGAGE FRAUD IS CRIMINAL, MASSIVE AND IT HAS INDEED VITIATED EVERYTHING….THE FEDERAL RESERVE MUST RESCIND ALL CONTRACTS…THE UN FEDERAL RESERVE ARE NO MORE THAN A VAST ONGOING CRIMINAL ENTERPRISE ARE A MASSIVE FRAUD OF CRIME, LIES AND DECEIT…. THEY ARE ALL CRIMINALS WHO HAVE COMMITTED $1.2 QUADRILLION IN DERIVATIVES FRAUD IN THE NAMES OF THE AMERICAN PEOPLE…AND THEREFORE IN THE NAME OF AMERICA…THEY BLAMED THE PEOPLE….AND TRIED TO MAKE US LOOK LIKE THE CRIMINALS….THOSE CRIMES COMMITTED BY THE FEDERAL RESERVE THREATENED NOT ONLY OUR NATIONAL SECURITY AND OUR NATIONAL SOVEREIGNTY AND THEREFORE OUR MOST TREASURED ASSET….OUR FREEDOM… …..! THE FEDERAL MUST BE THROWN OUT OF AMERICA…!

  3. ChrisYAHanWatcher4YAH says:

    We’d be expecting Unfortunat ACCIDENTS to befall the presumptive Wittnesses for the pro se execution? No

    Wittnesses , supression of Evindence NO CRIME? Dissmissed

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