Foreclosure Fraud Settlement Rubber-Stamped by U.S. District Judge Rosemary Collyer

David Dayen – Foreclosure Fraud Settlement Rubber-Stamped by a Federal Judge

A federal judge in DC swiftly approved the foreclosure fraud settlement yesterday. Actually four of the consent orders with the five largest mortgage servicers were approved Wednesday, but we only learned publicly of the approval of all five settlements yesterday.

Some investor groups had talked about challenging the terms of the settlement, but this approval happened so quickly, and without even so much as a hearing, that they had no time to react. This is the very definition of a rubber stamp.

But the real news on this approval, dug out by Nick Timiraos, is this sentence: “Nothing from the consent judgment entered into court in the $25B foreclosure settlement may constitute ‘evidence against Defendant.’”

Now this was expected, and it was part of the document. The five servicers don’t have to “admit nor deny” wrongdoing as part of the settlement, an example of the total lack of accountability on display here. But it’s really stunning to see it in print that way. And here’s just an example of why this is so wrong.

Via Abigail Field, here’s a just-decided case against Wells Fargo on behalf of a private individual in a bankruptcy proceeding. The judge, particularly angry about the charges, awarded $317,000 to the borrower, and then ten times that, $3.17 million, in punitive damages. Here were just some of the findings in the case:

Rest here…


4 Responses to “Foreclosure Fraud Settlement Rubber-Stamped by U.S. District Judge Rosemary Collyer”
  1. The swindle, the frauds, the abuses, and the ponzi schemes will continue…… doubt about that

  2. Joe Testa says:

    Speaking of Fraud has anyone received an assignment of mortgage, attached as an exhibit to a foreclosure complaint that was without a notary seal and without a seal from “MERS,” and then over two years later received the same document as an exhibit to an amended complaint, this time replete with both seals.

    Do you think the Bank went back to the Notary and MERS, with that exact assignment that was attached to the complaint, and asked them to place the seal on it for the purpose of establishing “AUTHENTICITY.”

    Interestingly, just a few days before I recieved the second assignment, at deposition Defendants questioned the banks corporate representative as to the lack of authenticity of the signature that transferred the mortgage from Countrywide Bank to BAC Home Servicing, as well as the authority of that signatory to do so. And, viola, three days later came the same assignment of mortgage with the MERS seal, ostensibly from 2010 and ostensibly confirming MERS’s sanctioning of the assignment.

    Anyone interested in having a copy of that blatantly fraudulent assignment contact me via email.

    Are the banksters and their minion attorneys really that arrogant and conceited to image they can get away with such illegal conduct?


  3. John Anderson says:

    This settlement is forged in judicial anarchy, that fits in nicely with the legislative/governmental anarchy we have suffered through since the false flag event on 9/11.
    The loss of constitutional rights, wars based on misinformation and outright lies, have changed our country for the worse. We, without a fight or whimper have given up basic human rights gained with the signing of the Magna Carter, and lost under the Patriot Acts, that are supposed to protect us from imaginary enemies.
    The spin presented by mainstream media, that is owned/controlled by the same group that killed Kennedy, lied about the Gulf of Tonkin Incident, ignored the false flag attack upon the USS Liberty and continues to shape public opinion with lies, and not much truth.
    This group of people are shrouded by secrecy and privacy.
    This group are the international bankster family that has been in control of Gold and currency for over 500 years, They finance wars, usually backing both sides, and are a winner every time.
    They own and control the Bank of England, our Federal Reserve, and what Eisenhower called the Military Industrial Complex.

    They of course, are the Rothschild’s

    Do yourself a favor and go watch ” The Secret of OZ ” on YouTube, It was the 2010 Best Documentary

    This is by far the best history of money, and how we got where were at explanation.

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