By: Kim P

Kim P — Mon, 30 Aug 2010 06:20:05 +0000

It seems the story is EVER SO slowly unfolding, yet a few more years, victims beyond statue of limitations, and completion of rounding up the homes, and the story may take on less of a sugar coating. Remember when insider trading was (gasp!), what are you talking about???
I know it’s more insidious than that. To begin with; as an example, go back a tad further than 06 as in preparation for the ‘housing crisis’, ha ha, check out where Citi CEO’s went and what they sold for 3 x’s the amount. In the mean time New Century was poised for the escape, approving loans they KNEW there was no money for. While Citi exec’s retired for ‘personal reasons (although bonus’ were paid with the same stock at a future market value, effectively dumping stock that off the company balance sheet could have been called the PRE-housing crisis, had they not been the only ones to know about it. Watering down the pool with significant percentage of company held stocks would definately screw investors as they are separate entries and transparent to the bottom line and ‘actual’ stock value. (just as the secret bank owned homes will dump secret inventory onto the housing market, after tax losses on toxic loans, now misteriously back on bank books are counted up.)
I began watching very closely when what the lawsuit for associates, among other things named, agressive upselling, and pressured insurance sales. How about being more specific when speaking of who is really effected in this end run. Lay offs and over valued homes, coupled with all the various scenarios that are nothing more than blaming the victim are focusing on a different segment of the population. Long term home owners with equity and no cushion to stumble….or be tripped perhaps? Think about the credit cards revolked and increased, insurance claims unpaid, not to mention the manipulation of the escrow accounts, and payments themselves. Turning a fixed 30 year loan into a couple of ‘flips’ and there is nothing a person in this position wouldn’t do to stay in their home. ‘Threats’ of foreclosure and refiances that are forced isn’t hard when banking side and investment side use ‘cross-marketing’ (gag), to their advantage. When New Century was setting up for BK, Citi claimed to be untouched! Customer appreciation week and swap agreements between Citi and New Century were already in place. If you look at the the agreements for sales and securitization, you may find trigger events that say only the A, top level investors get paid. Threats from Citi that lead to a “bait and switch” to New Century, add on the swap and biuyback agreeements (that further deprive payments to the real investors), and the money goes one place. Since the trusts are created in advance, (such as when an investment / credit risk manager has his actual eyeballs on your red flag / ‘trigger’ events, if you were to check your credit report when you realized the ‘mistakes or dumb errors’ began to occur at the same time EXESSIVE hits on your credit report begin to happen. Who are these people, what’s going on you ask? The rush to get your signature on a promise to pay that has already been orchastrated to fail. Fight as you will, they are always a step ahead. As far as the faulty, funny, illegal, and fraudulent documents concerning your property, if you were digging as hard as I was five years ago, you would have noticed another funny trend…UPS lost truck loads of files, hackers or bank employees, etc. stole private information, and on and on. This is where the detruction of the paper trail takes place. The title companies that participated in the fraud and betrayal, also went by the wayside. Or did they? Track the employees, many of which seem to have been ‘software’ and data guys, but now work for portfolio and management (or should I say risk mgmt), services, or (mortgage servicers), that will TRACK the paper in question……IF THE NEED ARISES. Hint…foreclosure. They aren’t tracking, finding, and providing the paper trail, they are creating it. I won’t even get into double funding, insurance products you know nothing about, but of course the deal on the PMI and guaranty, etc. pays off later down the road when you discover under all the many layers of BS, the new owner of the home you lived in alll your life has somehow been purchased by a ‘front man’ who is actually the bank who ‘supposedly’ funded the transaction in the first place…………or did they?

By: yvonne Sandra Ewins-Hammon

yvonne Sandra Ewins-Hammon — Fri, 27 Aug 2010 15:27:04 +0000

The houseing in my area had the same problem, My own home was put to a fake contract in 2006 ,
I have a Grant Deed on my home but the bank of america /Countrywide is trying now to sell it out from
under me . have gotton a attorney to fight for my home , with a fraud contract on file .
had to attend 2 so far going to again in sept 2010 acutions to stop any sale of my property for 47 years
wate on my atttorney to serve them, for a law suit for all the hell they have put my family through 2006 to 2009 and on going I did not even have a note for what they were billing me for had taken me off original
morage and put my husband that is ILL alone on this so called loan.
should not be allowed to send a persons home to the auction block with out a court hereing on it.
this is fraud and a lot more. the Hammon Family

Comments on: Banks’ Self-Dealing Super-Charged Financial Crisis

By: Kim P

By: yvonne Sandra Ewins-Hammon