Warren and Cummings to Meet with Fed and OCC on Foreclosure Abuses


Warren and Cummings to Meet with Fed and OCC on Foreclosure Abuses

Washington, D.C. (March 25, 2013) — Today, Senator Elizabeth Warren (D-MA) and Rep. Elijah E. Cummings (D-MD) sent a letter to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry accepting their proposal for a meeting to discuss the requests Warren and Cummings have made for documents relating to mortgage servicer abuses identified as part of the Independent Foreclosure Review.

“Criminal activity should not be shielded by regulators as if it constitutes proprietary information or trade secrets,” wrote Warren and Cummings.  “We continue to believe transparency is critical around the operations of the review and settlement processes, including the method by which borrower files were reviewed, the violations the servicers are found to have committed, and the scale of those violations.”

In their response to the Members’ earlier letter, Chairman Bernanke and Comptroller Curry indicated that as of December 31, 2012, 103,820 loan files had been reviewed by independent consultants engaged by the banks that have subsequently agreed to amended consent orders ending the Independent Foreclosure Review.  An additional 9,955 loan files have been reviewed by consultants engaged by mortgage servicers that will be continuing with the Independent Foreclosure Review. Approximately $2 billion has been spent on such reviews — nearly $20,000 per file reviewed or five times the average payout that will go to homeowners as part of the new settlement

SOURCE: http://democrats.oversight.house.gov



13 Responses to “Warren and Cummings to Meet with Fed and OCC on Foreclosure Abuses”
  1. Good Morning America !
    As In Life As we grow older and strive for that hard but not greed goal.We are taught by are elders to be honest work hard,have food,have a roof over your head for your family and the “BIGGY OUR HEALTH” well i warned from my heart !As i was forced to homeless and my family who i created are damaged.Reading for 7 years of the subject forced “Banking=This Bankster Crisis ! Trusting even the attornies paid ! I learned from this that many public officials are just as bad as the criminals involved.even “Legal Aid ” and top goverment officials.So my warning is remember ! Pace for the non-legal American Cilvilans” your HEALTH ! This crisis is deadly ! As you live life remember ! We live once ! Am posting this as i learned my health is on the first climb from that long nap ! I am young in my 50’s ! Worked honored our constitution.Born in ? Yes! “Philadelphia” I Say To Mr Warren and Cummings get these greedy “COWARDS” ESPECIALLY PEOPLE WHO JOINED IN ! Since “Robo” “Foreclosure Mills” and Judges any public officials ,appointent or elected who its obvious ? Presently caved due to a tiny justice we and the passed in heavens each family are suffering..Online sites that gain like the press should be locked up ! This site i would say that there are some “Bogus Evils” that stop in ro warn that they us the people are getting ? Close ! Its all who pays the cash as they join.Also people at this site.Major players who are under pressure but good intentions: Example OCC~~oR SOME BS a OFFICIAL IN NOYFB OFFICE POSTS “We or whom are going to investigate ? “TRUE AMERICANS WHO ARE REAL PATRIOTS” WAKE THE F——-UP NOW ! These high roll cowards are in “Tech Know Racketering” I am old school but adore new and creative changes ! Sortive A Like Music another gift to enjoy created happy life till our long nap ! 1 person can’t be a hero here ?But i dig any elected president we agree till history sings out USA facts,like a we are all equal and human.No if you read all? Am not some far out Timothy Leary ! Just a victum like you all. Bryan Bly ??? 1 beat cop could figure this old word from our history.”Ponzi” I posted about this “Rust Scamsters” BINGO ! ~~~Also CITI BANK my so called latest BS ARTIST ! i TOLD MANY AUTHORITIES IN 2006~~~IGNORED ? Latest i calledd Wrote OCC ETC… Explain this: If Citi claims they did not service own etc in FEB 2009 not 1 note of tranfereed ? Worked with attorney thru Nov 2009. Also took my payments till May 2009 ? Sent “thank you receipts and next prrinciple statements till may ? no waenings while talking to my 1st attorney ? WTF? This CITI CALL WAS APRIL 2013 10-15 CALLS.WTF ? 1 TIB -BIT I RESIDED 24 YRS IN A HURRICANE STATE. SURVIVED MANY ! So as a veteran in the season with all this BS I =ME PURCHASED MY INSURANCE OK ? AUGUST 2.2011 4:58 PM I WAS HIT BY RARE TORNADO AND WAS HARRASSED TO PUT MY CHILDRENS COLLEGE MONEY TO JUST MAKE BUILDING SAFE..The ins company said fix and will re-imburse, i did but i had a robo signer saying they bought ins ? WTF? To this day they claimed i never told them ? INSURANCE COMPANY HAD NO INTENTIONS ! THATS TO THIS MINUTE ! So i could post blogs as all this /; O Shit let me tell you my sadness story ! BUT MY POINT I LEARNED AFTER MY FATHER DIED WHEN I WAS FORFUKD HAD A HEART ATTACK ! His last words as a former Crimbal Fighter was ! Tony don’t quit fighting this,are country is are trust and justice will prevail. So please my victims of this and more “Ponzi” YOUR HEALTH YOU YOUR FAMILY ARE #1 LIFE IS OUR GREATEST FEELINGS ! So i invite
    Warren and Cummings or any true honest leaders any info ! I also will pray for you all and am sorry about my spelling/english as i try this as a disabled man. God Bless You All and God Bless America !

  2. Never Late On Mortgage Says says:

    In my state Maryland, there is no statute of limitations on criminal acts and stealing property and mortgage payments and filing false documents by unlicensed consumer lenders and loan servicing entities have not standing to do anything as they are not legal entities recognized by our constitution and state laws so amazing to me the extent our corrupted courts have gone in draconian Restatement of Contracts. The courts and these very regulators are engaged in criminal property theft on a mass scale against every citizen robbed of their payments, equity and credit as yes, ten years we have been dealing with these criminals but are well equipped and ready this time and will be evoking international courts jurisdiction for crimes exacted against innocent Americans constitutional rights of life, liberty and justice and free from enslavement as is precisely what Old Ben and Tom Currey and the boys are up to. We were never late on our mortgage and can prove it.

  3. Chris says:

    I can only say to you all that I too was taken by CHASE and can only hope that with all the hype being currently conveyed, that we may just find hope in nailing these crooks including the OCC and the Federal Reserve after the attorneys get the newly requested docs in order to open up more litigation against the banks and the regulators who attempted to offer cover. Remember, it may seem that the wrongdoers have prevailed, but with PERSISTENT and CONSTANT pressure exerted on our elected officials, we will receive the proper compensation. Start right now and contact your local congressman/senator and ask them what they know about this and offer your story as well as a request to get back to you once they investigate.

    Thank You

  4. I’m a victim of deep, deep foreclosure fraud, first by Quicken Loans who demanded a monthly impound on my purchase loan, but couldn’t seem to get the payment amount right (although I asked for what my total payment would be multiple times before closing, and when presented with a figure was assured it was “correct” (it was waaay off). And by Chase Home Finance who took over servicing from Quicken and demanded a payment increase of $900+ monthly with no explanation as to how or why, and refusal to connect me with anyone who could intelligently discuss my account; and wound up in foreclosure.

    So being victimized I think I learned the true nature of the purpose in all this, and it was simply to excise as much money as possible from homeowners and investors, regardless of the method. Hell, Geithner even admitted to Neil Barofsky that the HAMP program was launched to “foam the runway” for the banksters. It wasn’t designed to “save” homes. Everything we’ve seen from the Obama admin has been for PR, not for effect. He’s even worse than “W”.

    Bottom line, when I hear Liz Warren et al are going to have a meeting with the OCC bastards, while I respect her intent, it’s way too little too late. I too received the little “postcard” and doubt any amount I receive will even cover the time I spent compiling by “review” filing. The rule of law is dead in this country, and if you blow the whistle you’ll go to prison. Just ask Bradley Manning on that one.

    • thegrey55 says:

      Supposedly the Paying Agent will distribute over 4 million checks to abused homeowners and if each check is at least $1 that would give us a lot of buying power as a coillective. Now, the question is, what can we as a group do with that money to make a difference. Buy ourselves a supreme court justice, naw; an appellate court justice, naw; the point being that $4 million can’t even buy us justice in a country where Due Process is guaranteed by the Constitution. So how about 4 million of us, wherever we are, burn those checks all at the same time and refuse to let the TBTF Banks and their flunkies in D.C. use us to stamp “THE END” to this story. I don’t want their money (I mean our money, the tax payers) what I want is their souls, from each and every one them. That isn’t to big a price to pay for the destruction of this, once great, republic of ours. Especially when one considers all of the lives that were sacrificed by true patriots in its founding. Screw D.C., the TBTF Banks and everyone else involved in the conspiracy………..

  5. Sarah says:

    The Fed is a private cabal and the OCC is similarly corrupt with conflicts of interest and revolving door pathology that is best described as outright bribery and embezzlement. As if these bas$%ds who basically instituted foreclosure “abuses” will have any motivation to do anything. Hold the meeting at Covington Burling – nice suites and window views of the people down below.

  6. Grace C Bonacorsi says:

    I too received my postcard last Friday and yet, Bank of America/Nationstar Mortgage will receive their summary judgement on May 17. This whole debacle started with TARP and the giving away of those monies on the premise that the big banks would do want it was intended for, to prevent massive foreclosures and a massive hit to the economy. Five years later, the only ones who have benefited from TARP have been the big banks. States, such as Florida, have decided to use ‘rocket ‘dockets’ to clear out the old foreclosure cases and in 99.999999% rule for the banks regardless of what fraud the file may or may not contain. Those who were not part of the sub prime market and tried to get help and work with the bank whether they lost their job or lost a spouse found out relatively quickly, that foreclosure was a much more profitable solution than say a short sale and/or Deed In Lieu. I would love to know how many banks gave customers Deeds In Lieu from 2009 through 2010. I’m going to go out on a limb and say very few if any. Those, like me who will now lose their home and get a poultry sum of money know it doesn’t matter. Once the foreclosure was filed, your credit goes too and with a deficiency judgement, you will never get it back. So thank you Congress, Fed and the OCC for caring enough about the people you both work for and are in a position to protect. When this happens again, and it will, maybe those after us will benefit from the screw ups this time around.

  7. The “Independent Review” it as been said thar this choice to help or justify our fraud oureage for “20 Grand Scam” per case WTF ? come on American tax payers ? Rust Consulting” is bogus ! Who ever choose them or was involved lobbying this decision ? Should be investigatrd by all our law enforcement task forces, that are “Special Prosecuters” picked by no political parties ! Exanple “Citi Mortgage” the 1 of 13 banksters who are in so deep ! Seem eo have this plan of denial of “Bryan Bly” ETC…..but now there spinning quick postcards to avoid, that say–Sorry we did’t serxice your loan or you were not in foreclosure ? So you don’t quailfy ! LMFAO REALLY? Why did my neighbors hand me a supeona when found on my lawn ? Also what about the agreement of te long dragged out new agreement with the home retention center ? So i said to myself don’t get mad ! Just write more dates times and rgese new scam lines down .
    But this is not that easy ! A tip for all who are sick or disabled etc…Dont call “RUST” there is a pre-script is in full mode ! Also that BS Press release that victims have not tryed to get help ! Answer: Like Am selling parts of the Golden Gate Bridge ! BS ~~When i filled out one of many legal “Complaints” like this Independent Review they said it was for the time period in 2009-2010 ? This Independent Review i envy who catches these people who are putting lemon in the wounds of the true victims. Since the good attorneys are all busy or overwhelemed or are suspect, i filled them out as best of a un-healthy man i am. I sent in well in the 1000’s of Documents,ID’S, Recordings,Depositions and the Ace of Ace’s recipts of payments to CITI MORTGAGE past many dates that they claim was sold to some white collar fraud ? “i wont disclose as i gather more bs dates” also traps to fools who think a degree is a past examine. As for our legal system and officers of the courts? Like for an example: our so called trusted “COURT OF CLERK” WE HAVE THE DEEPEST PROBLEM ! There are many unemployed people , Yes good hard workers who would love to serve our system. So i’ll wait do tomany potential threats ! As for many of the caught banks and saying we will reimburse are mistakes ? And there reimbursing is tax payers money ! Are not doing what are attorney generals,occ etc… agreed upon ! Even if you get a check or conpensated ! Think about how many people,suffered also are homeless,died and will never recover. THE CFB REPORT WAS POSITIVE ! But is it a chill pill ? Jail Time is a must ! Not as mush as money ! This is “America” setting a example needs to be our goal ! Although solving greedy criminals, fear is not money ! Its “Jail” you can ask a crimnal his most fear of when getting caught !
    We NOYFB Now have a “New Goal” any scumbag who is involved in this ! There world is smaller ! God Bless America !

  8. thegrey55 says:

    I just received my postcard from the “Paying Agent” (Rust Consulting) advising me that I’m eligible to receive a payment. NO SHIT… It stated that I will receive a check or a request for further information in 4 to 8 weeks. The OCC, the Fed and all the rest of them in D.C. can kiss my A**. I’ve been saying this for several years now, all this crap coming out of Washington is nothing more than a stalling tactic until the statute of limitations runs out on all of the crimes committed by the TBTF Banks and that time is quickly approaching. Independent law suits are what is needed not independent review by government lackies on the payroll of the Banks. There isn’t a day that goes by that these Banks don’t committ a criminal act and the regulators are guilty of conspiracy but we all know this and wwe also know that they will never be mase to pay for their crimes, end of story.

    • melissa says:

      I also received my postcard from Rust Consulting,I agree with what your saying, now the question is did they actually read your paper work you sent in or did it go into a big pile like the loan mods did. Did you already lose your home or are you still in it? I am still in my home but have a sale date coming soon.

      • thegrey55 says:

        BAC never had a legal right to my home-they assumed ownership after buying out countrywide and countrywide was nothing more than my servicer. I’ve held out through 5 foreclosures since 2006 and as of December 12, 2012, BAC is out of luck because the statute of limitations expired and the property is mine. But I’m still in this fight because its wrong, just flat out wrong what these banks are being allowed to get away with. Good luck with that upcoming sale date and I hope you can put them off somehow,someway…

      • Mellissa,
        I lost more then a home ! My father ! I guess what i can say is ? Focus on you trying to live with being happy.Its not a fair fight right now,theres to many high trusted people involved on both sides.I AM RECOVERING ! As i lost a battle but not the war ! But don’t quit or trust only yourself ! Something will go down soon “? and i hope you still live in your dream house ! This is a disgrace an sometimes a iggnorant part of AMERICANS getting involved.Why because its not effecting them yet ! GB

  9. kate says:

    In other words…Ms. Warren, like the many before her, will fail, however, not for lack of trying. There is an impenetrable wall of protection. Crimes committed by the right people do pay and pay VERY WEll. The elite members even get a unlimited supply of “get out of jail free” cards. It just doesn’t get any better if you’re in the right club.

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