Urgent Notice – January 25, 2013 Deadline for Countrywide Discriminatory Lending Settlement Claim

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Urgent Notice – January 25, 2013 Deadline for Countrywide Discriminatory Lending Settlement Claim

Cross posted from the Law Offices of Evan M. Rosen

In December of 2011, the Department of Justice (DOJ) reached a $335 million dollar settlement to resolve allegations of lending discrimination by Countrywide Financial Corporation.  Countrywide was charged with steering African-American and Hispanic borrowers into loans with higher fees, higher interest rates, or other sub-prime loan features, simply because of a person’s race or national origin.  Skin color, not credit worthiness, was the determining factor for the higher cost loan.

After finalizing the settlement, the DOJ conducted a statistical analysis of millions of Countrywide loans.  The DOJ compiled a list of eligible African-American and Hispanic borrowers who obtained a Countrywide loan which contained higher costs and less favorable rates than loans extended to similarly-qualified non-Hispanic white borrowers during the time frame from 2004 through 2008.  Either a borrower is on this list or not.  There is no dispute process.  Settlement notification letters were mailed in November 2012.  The quickly approaching deadline to return a settlement claim is Friday, January 25, 2013. 

Despite having numerous African-American and Hispanic clients that should be eligible to participate in this settlement, only one client from our firm received a settlement notification and that client is a non-Hispanic, white person.  This leads us to believe there are massive flaws in the DOJ’s identification and notification process.

If you obtained a Countrywide loan between 2004 through 2008, please call Rust Consulting (1-800-843-5148) which is the consulting firm administering the settlement.  A customer representative will ask a list of identifying questions in order to check your eligibility against their database.   Before settlement funds are disbursed, recipients may be asked to sign a waiver.  It is important to have an attorney review the waiver before you sign it in order to assure that you are fully informed and protected.

It appears Countrywide’s racist practices were not limited to this one mortgage lender’s isolated practices.  There are similar Department of Justice settlements with discriminatory (racist) other lenders; Suntrust (suntrust.settlement@usdoj.gov ),  Wells Fargo (here) and GFI Mortgage Bankers, Inc(800-896-7743 x 9992).

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If you are in South Florida and are looking for help with debtforeclosurereal estate or want more information about bankruptcy law, call  (754) 400-5150 or fill out the online form for a FREE CONSULTATION.  Let the lawyers and staff at the Law Offices of Evan M. Rosen serve you!

The Law Offices of Evan M. Rosen is a debt relief agency.  In addition to other legal services, the Law Offices of Evan M. Rosen help clients file for bankruptcy relief under the Bankruptcy Code.

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Comments
9 Responses to “Urgent Notice – January 25, 2013 Deadline for Countrywide Discriminatory Lending Settlement Claim”
  1. LD TX says:

    I received my postcard from Rust Consulting Paying Agent who will pass out the few dollars that borrowers for Securitized Mortgages might receive. Funny how they call the MORTGAGE FRAUD deficiencies in the mortgage servicing and foreclosure process of Bank of America, I ask constantly when the Debt Collector Bank of America comes knocking at my door leaving their little gold envelope telling me to call Bank of America @ 800-669-0102 about my loan? Excuse me…. Loan? What Loan??? Security Exchange Commission deals with Investments right? The securitized mortgage as they wish to call it had to dispose of the note because you can’t have a Security and a Note at the same time as this violates IRS laws. So Bank of New York Mellon does not physically own or hold the note as they wrote to me. Bank of New York Mellon even called me on the phone and explained he could not produce the note because it is a security now. He also explained it would be very difficult to locate the investor. BNY does not physically own the property or hold the note. Should I say this again?? So MERS is not a creditor, BNY is not a creditor only Trustee for Investors, Bank of America is not a debt collector but a Servicer, kind of misleading when you call and say you are a “Debt Collector” Countrywide Mortgage is Bankrupt, and America’s Wholesale Lender who are they because they are not a Member on the MERS list of members nor is there any proof that they fronted funds for the mortgage or gave MERS the power to foreclose on the property. MERS is a Nominee and Beneficiary under administrative purpose so who is this debt owed too? Bank of America can not answer this question in a honest sincere truthful manner. Bank of America wants us to be their puppet as does the OCC and believe that Bank of America/ReconTrust has the right to take our homes and it does not matter if they forged documents, didn’t have a lender, do not have a creditor, has a Pooling and Service Agreement with the Security Exchange Commission or that anything they are doing gives them the right to steal properties. So, I would say with the way this postcard reads, those of us who did not or does not live in million dollar mansions will received 25 to 50 dollars for the trouble we have suffered. Don’t expect much because what will happen is you will be let down again. Keep fighting don’t give up and pray. Folks seriously pray that these banks fail or pray that the executives of these banks loose their jobs, their money gets taken away and they get treated like the people of Enron were treated. May they loose every material possession they have and may they wind up homeless and without as we say in Texas a pot to piss in.

  2. Stop lying to people! Bank of America is going to weasel their way out of paying. Who do you think hired the so-called consulting company? Bank of America, idiot. I hate ppl like you who get people’s hopes up they’re going to get a settlement. No one is getting anything from these banks. The screwed the American people and they intend to again. Take your lies somewhere else.

  3. pcruz says:

    I meet every criteria for this discrimination law suit, and others, I still have my paperwork to prove it! yet, I cannot contact any live person who is willing to look at it! i feel like I am going through the whole foreclosure process again. “call this number” “call this number” “leave a message” ” i wil get back with you” ” Its to late!!” does anyone know how i can contact the Obama Administration?

    • Leah says:

      LDean @ David:
      Yes David that is about how it is. Waiting and fighting every single day. Every day I find out something new, I fire off a letter. I believe if I researched and found this information on my own, I will find the right person or somebody will read our post and do some deep digging to find out what exactly is it we are exposing. I will not give up and I can at least say, I tried my hardest to not let criminals get the best of me. Thank you for the praise on what I wrote. I will never give up the fight. The newest document I found in Texas Land and County Records has me quite upset and nervous. These criminal minded pieces of trash can find loops that we would never think about. Something told me that instead of typing the Grantee as Leah Dean, I would put in CWABS just to see if anything would come up. Oh to my shock, a Limited Power of Attorney written between Bank of New York, Bank of America came up and this document relates to CWALT and CWABS pools. The parties involved in this Limited Power of Attorney are The Bank of New York Mellon, Bank of America, Specialized Lending Services, and LSI Title Agency. After begging and requesting through a qualified written request for the blue ink copy of the promissory note which shows assignments and endorsements to the property, and being told I am not privy to this information because it goes above and beyond what the Qualified Written Request can answer. What I do know, is Bank of New York Mellon has written and signed and notarized this document with witnesses stating they have in the possession of the Trust, CWABS 2007-2 the Deed of Trust/Promissory Note. None of this is supposed to be truth and fact. Had I not looked under CWABS I would not even have a clue to what was going to be coming at me next. Also, read reviews on Specialized Lending Services and LSI Title Agency. We already know Bank of America and Bank of New York are not honest but now we truly know all of the parties involved are very dishonest and will got through any obstacle they can to try and steal your home.

  4. David says:

    Wow,Wow,Wow,that was nice LDean and I mean that with all my heart,I have the exact same scenario except dif players,my very close friend has your scenario to the T,CW+BofA=BONY or reversed and then chuck in That infamous organized crime family of Mers and then it just gets so complex yet so easy to spot the fraud that its sick.Broker originated,warehouse lender,robo-signed,fraudulently closed,misrepresented,etc,etc,robo-signed assignment to so called trust 5 years past the cut-off date in THERE pooling and servicing agreements,figures and pay-offs on closing docs are wrong and show blatant fraud.Mine started the same way when trying to mod,15 points of contact,lost paper work,then they tell you its not up to them its up to some third party that is not named on any doc or faked deed that they illegally recorded,file your complaints [accomplishes nothing] and stress out.And now they want to take are guns away so you can see where this is headed.This is not the America that men died for,we need to come together anyone who was scammed 2004-2008 and demand this be made right.Normal business transactions would def render these deal void and reconvey those deeds to there rightful owners,the folks who put the real funds down to get the home they have been in for decades,who’s hours of labor =the monies paid every month,then you find out youve been f…ed and you hear some bs like” well you signed it”so that broker you thought was on your side was actually on there own side and the lender you thought was lending is no more than a gov backed debt collector but on steroids.F..k em all.Every dog has its day,I just dont understand why more folks havent taken to the streets.

  5. LDean says:

    Quite frankly I find this to be very discriminating to me a Anglo Single mother who bought a home in 2007 that is the very same exact thing. Subprime Mortgage, America’s Wholesale Lender; CWABS 2007-2; Bank of New York Trustee; MERS and all of the same crap. The OCC very aware and I even have a case number. Do you think anybody has reached out to help me. I will be happy to throw this around as well. You go to the closing table and advised your closing cost, you pay it, You are told in a factual manner that your Lender is America’s Wholesale Lender, and your servicer is Countrywide Mortgage. You are to make your payments to Countrywide. Nobody brings up MERS or talks about Nominee and Beneficiary. 2008 you get laid off. During this awful time in your life, Countrywide is bought out by Bank of America. You are notified Bank of America is now the servicer of your loan. You then want to see about a loan modification because you have been laid off of your job. You receive documents from Bank of America which have people on your paperwork you never heard of. MERS is the Original Mortgagee and Bank of New York Mellon is Current Mortgagee fka CWABS 2007-2 Asset Backed Certificates. Even the dumbest human being in the world does not have to scream I was discriminated against because of my race. It was not your race. It was how much of your own homework are you going to do on your own to find out that your account number issued by Countrywide Mortgage was securitized. There is no America’s Wholesale Lender, Bank of New York Mellon is not the Investor as Bank of America wants you to believe, Bank of New York Mellon is the Trustee for Investors (plural) not Investor but Investors. Your promissory note was turned into a Bond and traded on Wall Street among many investors. So who holds your note? Not the Bank of New York Mellon, they are not the holder of the note, they are not the physical owner of the property, they have no say so in loan modifications and do not have any say in how the servicer disposes of the property. So you keep digging and digging for more information. You find your CWL #155397447 listed on the SEC under the pool CWABS 2007-2. Yep there it is. Your worst nightmare. The note was securitized, now a bond, Bank of New York Mellon is not a Mortgagee, does not hold your note, and was not the Investor that rejected your loan modification. Bank of America tries to foreclose on your home. You end up with a Appointment of Trustee Sale where it has been robo signed and the notary is robo signed. You reach out to the OCC, The Texas Attorney General, Eric Schneiderman and the FBI. You get case numbers from the OCC, TAG, and Eric Schneiderman.
    There response, we will put it in a file here is your case number. Is this because I am white?
    No this is because the Banks are allowed to do this. I continue to present fraud upon fraud to Bank of America, robo signed documents, 5 years after trust has closed, a endorsement with Michele Sjolander rubber stamp on a promissory note that was scanned. Bank of America can’t even produce the Blue Ink copy of the promissory note. and continues to say that Bank of New York Mellon is the Owner and Holder of the note. You continue to research and find that America’s Wholesale Lender is not even a lender. There was no lender. You continue to fight for answers trying to save your home. This is my story and I am still fighting. So, I am white, I am fighting the same exact battle on 155397447. My home that I live in has a Pooling and Service Agreement, the rules that were to be followed in the PSA and clearly they were not. Bank of America claims they are a “Debt Collector” they are trying to collect a debt but will not answer who they are trying to collect a debt for. They stick notes on your door and come by to see if anybody is occupying the home just waiting like vultures to catch you away so they can steal your home. These are facts. This is my life every single day. Fighting to find out who owns your note, who is the holder of the note. The pool closed on February 28, 2007. You can not change the securitized mortgage back into a promissory note or a mortgage. The promissory note was destroyed because CWABS 2007-2 is a REMIC and had tax breaks for being a securitized mortgage. To have the note and the REMIC at the same time breaks the IRS laws. But they are doing it. Bank of New York puts in writing we do not hold the note or physically own the property. Contact the Servicer. Your Servicer is Bank of America. BONY does not have any say in Loan Modifications. BONY does not have any say in how the servicer disposes of the property.
    Is this because I am white? No!!!! This is because the OCC, the Texas Attorney General, Eric Schneiderman do not want to properly investigate. So you have no owner of the Note and no Holder of the Note but Bank of America pays the property taxes on the property. Why do they do this? To try to say they have the right to foreclose because you didn’t pay the taxes.
    I will end it like this there is no America’s Wholesale Lender, CWABS 2007-2 Bank of New York Mellon and Bank of America have made a settlement. There was no money at the lending/closing table given. The promissory note is now a corporate bond. You can not convert the bond back into a mortgage. I am the owner of the property. And that is because I am white and I am not buying Bank of America’s bull shit!

    LDean TX

    • 1ofthemany says:

      We are all under the same fraud umbrella and they continue to separate us to gain more fear and power grab. All fraud no matter what. Nothing more nothing less just thievery.

    • David says:

      So LDean is that kinda where its at,waiting and looking out the window,not wanting to leave?Thats exactly where it is for me.

      • PCRUZ says:

        I am trying to get intouch with a national news broadcast who will look at our paperwork to show the nation how we are being discriminated by the DOJ and Federal Independent Foreclosure Review……. 1.5 billion given back to the banks who ruined our lives!!!!! Be sure to document every person you speak with at the DOJ and Rust Consulting and have all your documents ready to show. I have already spoke to someone in my hometown newspaper who agreeded to show my documentation. We have to start some where. Also the white house has a website you can send an email along with a phone number available, just go to the Civil Dept.

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