Federal Reserve Seeks to Fine HSBC, SunTrust, MetLife, U.S. Bancorp, PNC, EverBank, OneWest and Goldman Sachs Over Foreclosures

Federal Reserve Seeks to Fine Firms Over Foreclosures

Federal regulators are poised to crack down on eight financial firms that are not part of the recent government settlement over home foreclosure practices involving sloppy, inaccurate or forged documents.

Last week, a senior Federal Reserve official recommended fines for these additional financial institutions, raising questions about how deep foreclosure problems run through the banking industry.

In addition, judges, lawyers and advocates for homeowners say that people are still losing their homes despite improper documentation and other flaws in the foreclosure process often involving these firms.

The eight firms cited by the Federal Reserve — HSBC’s United States bank division, SunTrust Bank, MetLife, U.S. Bancorp, PNC Financial Services, EverBank, OneWest and Goldman Sachs — should be fined for “unsafe and unsound practices in their loan servicing and foreclosure processing,” Suzanne G. Killian, a senior associate director of the Federal Reserve’s Division of Consumer and Community Affairs, told lawmakers last month in a House Oversight Committee hearing in Brooklyn.

Rest here…



8 Responses to “Federal Reserve Seeks to Fine HSBC, SunTrust, MetLife, U.S. Bancorp, PNC, EverBank, OneWest and Goldman Sachs Over Foreclosures”
  1. What they should do is to stop the illegal foreclosures and a start national moratorium in fraudclosures That is what they should do STOP THE SWINDLE AND THE SCAM !

  2. What the should do is stop them the foreclose illegally, and a nation a moratorium in fraudclosures that is what they should do STOP THE SWINDLE AND THE SCAM !

  3. Ken Harvey says:

    Looks like they missed a Bank or two.

  4. Barbra Orr says:

    I am happy that the Federal Reserve is going to fine HSBC,Suntrust, MetLife, U.S. Bankcorp, Pnc, Everbank, One west and Goldman Sucks over foreclosure fraud. why don’t they make the same committment to stoping them from continuiong to forclose illegally. Some judge sanctions an attorney for $50,000. I have to agree that the courts make people feel so demeaning for defending against illegal foreclosure. It is my opinion that most judges can be purchased for cheap trinkets or just giving them some power attention. I think too they are finally really having to work an actually be responsible for their actions.

  5. keepon says:

    Wow! They’ve worked themselves up to “poising” have they? They’re going to be “asked ?” to ‘please submit to fines for frauds & forgery’ while their theft of America continues despite their admissions in OCC Consent Orders? Whose country do these Regulators work for?

    Meanwhile, as only fair and equitable, Judges like Schiltz sanction defense counsel $50,000 (really) to make lawyers stop defending homeowners. And thousands of Americans come out of the ‘justice’ system feeling like the unclean for standing to defend from the thievery.

    Are Regulators, the Federal Reserve, the OCC, Judge Schiltz 1%ers, or 99%ers? We’re in the goolag America.
    So much for Barry’s “…play by the same rules.” More bull shit, Mr. President!

  6. Hell NO! No More Bankster Bailouts! says:

    Remember Litton Loan Servicing and THEIR team of fraudulent document signers? Well, now that Goldman-SUCKS sold that criminal enterprise to Ocwen, it seems that any fraudclosure-in-progress that Ocwen took over from LItton should be tossed back to Goldman-SUCKS so that it is included in the criminal complaint against Goldman-SUCKS.

    If not, then the Fed needs to ADD Ocwen to the ‘brew’ with their pals at Goldman-SUCKS.

    Jerry Brown, you should never have been the one to work the 2009 ‘deal’ with Countrywide while SISTER Kathlene worked there (and later at BofA). Now she’s with Goldman-SUCKS.

    My servicing was moved from BofA to Litton just about the same time as Kathlene made her move. to that Sucky parent company. Supposedly the loan was already in default so Litton can not claim to have been anything other than a Debt Collector to me. With the sell-off of Litton to Ocwen, Ocwen is therefore is in the same boat. And they are continuing an attempt to foreclose on the same original docs yet show that they accepted $25000 AFTER the supposed default. The NOD and the NOS notice are therefore WRONG. Hmmm. They are going to find out that they have made way too many mistakes to pull this FRAUDCLOSURE off. The PSA for the supposed trust shows it had already ‘sailed’ long before the Goons with Litton created an assignment, with help from the fraudsters at LPS.


    Barry Fagan v Wells Fargo Re: County of Los Angeles Department of Consumer Affairs Complaint


    Complaint Summary: Wells Fargo Bank has fraudulently altered Barry Fagan’s Deed of Trust. Barry Fagan has recorded all 3 versions of the same deed of trust with the Los Angeles Registrar Recorders Office on November 29, 2011 as instrument no. 2011-1608398. The recorded Notice of Pendency of Action showing three different versions of that same July 9, 2007 Deed of Trust as originally recorded under instrument no. 2007-1622100. Judge Tarle, of The Superior Court of California, West District has taken Judicial Notice of that Recorded Document. Barry Fagan has submitted credible evidence from a forensic document examiner with over 20 years of experience that multiple fraudulent alterations have occurred on the “Handwritten Number page 4” which is located on page 3/4 of the Deed of Trust. All of the Deeds of Trust now reflect an entirely different handwritten NUMBER 4, and one of the exhibits also has a snake like line drawn on it, which is not present on the other two exhibits. C.P.A. Shawn P. Adamo stated: “It is my professional opinion that the altered deed of trust is concealing an irrevocable assignment, and explains why Wells Fargo is unable to produce loan level accounting concerning Mr. Fagan’s loan. Wells Fargo claims that any level of detail relating to Mr. Fagan’s mortgage is non- existent. As a result, C.P.A. Shawn Adamo provided two expert opinions, one an affidavit signed under penalty of perjury dated January 24, 2012 and the other is a Feb. 6, 2012 complaint letter sent to various regulatory agencies explaining that Wells Fargo Bank has failed to provide a loan level balance sheet accounting and is concealing the fact that they do not own Barry Fagan’s loan. Wells Fargo is a criminal enterprise that is attempting to assert rights over Barry Fagan’s primary residence by way of fraudulently altered documents, and Barry Fagan’s recorded documents needs to be investigated at the highest level within your organization to see that a crime has actually occurred!
    Involves Real Estate Fraud?: Yes
    Recorded Document #: 2011-1608398

  8. John says:

    At least someone BIG said Forged.

    That is a step forward.

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