False Statements
Action Date: March 8, 2011
Location: West Palm Beach, FL
The terms of the possible settlement of the 50-State Investigation of mortgage servicer abuses have now been released. For the most part, the settlement would require servicers to do exactly what they are already required to do.
For example, according to the settlement, “Affidavits and sworn statements shall not contain information that is false or unsubstantiated.”
Despite the weaknesses of the settlement, it may not be worthless. Many states exclude banks from the groups that can be regulated under the state’s Unfair and Deceptive Trade Practices laws and there has been some significant argument that this exemption extends to servicers working on behalf of banks. So in that regard, the settlement is significant. Without any new legislation, the servicers agree, in effect, to be regulated by the Attorneys General – that is, they could be sued for violation of this agreement. Most significantly, the Attorneys General would not have to spend time and money to convince a court that certain conduct by the servicers is an unfair and deceptive act.
While other government agencies could have regulated mortgage servicers, they clearly failed to do so. Now the Attorneys General can act where other agencies have failed.
Nothing in the settlement ends the investigations by particular states of particular servicers and law firms. Those investigations and possible sanctions and relief for those harmed will likely continue. States that are serious about addressing past abuses will go forward with their investigations, sanctions and settlements.
What is missing from the settlement? It would be very useful to require employees of mortgage servicers to identify themselves as such on all documents. Identification as officers of MERS, banks or lenders should be prohibited.
Servicers have argued that their employees are allowed to represent themselves as MERS officers and bank officers because of corporate resolutions or powers of attorneys allowing this fiction. Some of these employees even use the address of the bank – and not their actual address – on Assignments, Releases and Affidavits. False titles and false addresses create confusion, difficulty and expense for homeowners in litigation who are trying to take a simple deposition of a document signer. Most judges give greater credibility to the sworn statement of a bank vice president than they would give to the sworn statement of an “authorized signer” for a mortgage servicing company. This is the very reason these titles were passed out to clerks and law office managers. Actual titles, actual employers and real addresses need to be used.
Who else needs to disclose their true employer? Again, while this seems like it should go without saying, lawyers working for banks and mortgage companies should not be allowed to represent that they are actual bank officers.
This practice has happened in tens of thousands of cases and already been condemned by many New York judges. Lawyers who hold themselves out to be bank vice presidents and MERS officers need to end this practice.
Servicers also need to stop acting as “Attorney-In-Fact” for banks, mortgage companies and even the FDIC. In many states, servicers do not meet the minimum qualifications to act as attorneys-in-fact and they need to end this practice as well.
The average citizen and the Attorneys General no doubt define “Information that is false and unsubstantiated” differently than most mortgage servicers.
Over 6 million mortgage assignments, affidavits and sworn statements have been filed in courts and country recorder’s offices with servicing company employees and lawyers signing using false titles as bank officers, mortgage company officers and MERS officers. The settlement should prohibit this widespread fundamental abuse.
~
Multinational Foreign Banksters are exempt from the law? Theses so called Americans who are aiding and abetting these terrorists are no more than a bunch of TREASONISTS. They are destroying America right before our eyes.
Interesting statistics found on OpenSecrets;
Financial Sector Contributions to Current Members of Committees Shaping Financial Reform, 1989-2010*
HFIN: House Financial Services SFIN: Senate Financial Services
SBAN and SFIN: Senate Banking, Housing, and Urban Affairs and Senate Financial Services
Download:
Name Office Party Cmte FIRE Comm Banks Real Estate Insurance Securities & Investment Credit & Finance
Ackerman, Gary H D HFIN $1,859,641 $199,750 $621,985 $300,375 $393,388 $39,250
Adler, John H H D HFIN $943,532 $65,000 $239,273 $206,417 $235,411 $20,400
Akaka, Daniel K S D $556,295 $117,360 $166,400 $84,880 $71,500 $1,500
Baca, Joe H D HFIN $607,030 $49,875 $254,766 $40,925 $55,450 $45,750
Bachmann, Mich H R HFIN $1,324,732 $134,177 $231,033 $255,570 $264,185 $51,750
Bachus, Spencer H R HFIN $6,703,372 $1,392,962 $1,171,451 $1,303,500 $1,114,416 $576,508
Barrett, Gresham H R HFIN $823,223 $127,570 $270,531 $155,900 $48,906 $43,800
Baucus, Max S D SFIN $5,828,137 $630,557 $835,017 $1,560,963 $1,747,084 $147,050
Bayh, Evan S D $6,512,414 $498,938 $1,288,870 $795,802 $2,725,573 $190,611
Bean, Melissa H D HFIN $2,802,770 $338,543 $435,749 $708,653 $720,450 $161,554
Bennet, MichaelF S D $1,802,041 $88,400 $439,973 $108,649 $775,991 $32,534
Bennett, Robert F S R $3,058,103 $502,549 $352,541 $527,005 $868,736 $288,450
Biggert, Judy H R HFIN $1,980,493 $287,836 $376,226 $413,601 $412,550 $114,516
Bingaman, Jeff S D SFIN $1,098,999 $158,935 $216,324 $174,375 $251,209 $20,666
Brown, Sherrod S D $1,950,230 $210,037 $519,407 $253,595 $386,305 $58,500
Bunning, Jim S R SBAN and SFIN $2,791,013 $427,612 $409,756 $838,899 $535,384 $105,600
Campbell, John H R HFIN $1,395,563 $125,600 $409,053 $231,000 $208,180 $26,500
Cantwell, Maria S D SFIN $1,928,513 $83,960 $524,301 $81,700 $764,757 $37,250
Capito, Shelley H R HFIN $1,901,332 $341,299 $429,124 $386,340 $277,028 $91,750
Capuano, MichaelH D HFIN $1,495,626 $162,906 $544,025 $306,925 $241,600 $22,500
Carper, Tom S D SFIN $3,230,518 $608,162 $477,103 $781,334 $559,637 $423,922
Carson, Andre H D HFIN $310,062 $42,800 $70,600 $43,717 $57,550 $19,750
Castle, Michael H R HFIN $3,283,347 $720,328 $426,896 $473,385 $583,032 $629,265
Childers, Travis H D HFIN $533,361 $84,500 $115,274 $87,817 $59,350 $66,772
Clay, William L Jr H D HFIN $436,325 $49,100 $124,400 $86,000 $41,750 $69,450
Cleaver, EmanuelH D HFIN $435,886 $45,700 $170,400 $45,900 $54,052 $12,000
Conrad, Kent S D SFIN $2,976,537 $258,729 $421,741 $1,116,387 $704,224 $84,200
Corker, Bob S R $3,652,940 $370,975 $1,082,365 $491,575 $846,650 $70,029
Cornyn, John S R SFIN $5,107,277 $631,767 $1,152,840 $716,278 $971,075 $114,200
Crapo, Mike S R SBAN and SFIN $3,110,128 $406,081 $314,125 $781,132 $839,277 $191,150
DeMint, James W S R $3,031,608 $277,888 $843,177 $590,230 $666,946 $107,900
Dodd, Chris S D $15,094,412 $1,375,863 $2,142,123 $2,561,196 $6,556,607 $465,380
Donnelly, Joe H D HFIN $564,555 $81,072 $127,075 $117,950 $90,700 $34,333
Driehaus, Steve H D HFIN $287,251 $24,528 $103,970 $77,867 $44,386 $11,000
Ellison, Keith H D HFIN $309,574 $42,917 $80,525 $61,950 $45,950 $3,800
Ensign, John S R SFIN $2,960,187 $212,400 $892,802 $755,067 $453,868 $82,450
Enzi, Mike S R SFIN $1,660,543 $260,715 $139,225 $388,953 $371,122 $160,750
Foster, Bill H D HFIN $808,561 $71,600 $135,800 $109,273 $326,455 $24,000
Frank, Barney H D HFIN $3,930,036 $569,200 $837,058 $723,981 $912,081 $177,050
Garrett, Scott H R HFIN $1,904,123 $197,400 $256,775 $463,498 $537,067 $96,250
Gerlach, Jim H R HFIN $2,013,281 $252,191 $390,922 $477,894 $388,428 $60,950
Grassley, Chuck S R SFIN $3,637,791 $354,510 $430,854 $1,448,794 $730,152 $135,134
Grayson, Alan H D HFIN $154,613 $4,979 $52,820 $22,287 $15,936 $15,900
Green, Al H D HFIN $289,967 $94,517 $82,600 $19,800 $18,200 $19,500
Gutierrez, Luis V H D HFIN $840,357 $171,470 $247,780 $49,000 $115,750 $83,450
Hatch, Orrin G S R SFIN $3,312,047 $267,500 $564,895 $889,976 $927,128 $102,000
Hensarling, Jeb H R HFIN $3,207,738 $589,945 $446,500 $487,923 $463,742 $394,361
Himes, Jim H D HFIN $1,978,145 $152,350 $238,700 $175,237 $1,052,234 $64,500
Hinojosa, Ruben H D HFIN $853,536 $263,950 $206,300 $97,150 $111,950 $50,000
Hodes, Paul W H D HFIN $1,028,037 $67,950 $251,200 $110,300 $381,375 $13,000
Hutchison, Kay S R $5,116,395 $805,189 $872,539 $690,200 $914,992 $166,966
Jenkins, Lynn H R HFIN $651,400 $141,527 $123,750 $118,774 $49,700 $61,550
Johanns, Michael O S R $861,773 $139,750 $164,640 $233,100 $133,552 $41,700
Johnson, Tim S D $3,503,715 $676,625 $555,688 $644,193 $782,264 $415,400
Jones, Walter B JrH R HFIN $1,085,943 $278,702 $261,029 $175,107 $71,750 $72,828
Kanjorski, Paul E H D HFIN $4,501,143 $393,120 $745,034 $1,134,786 $979,768 $367,896
Kerry, John S D SFIN $18,719,574 $1,582,614 $5,341,404 $1,441,143 $6,447,325 $241,141
Kilroy, Mary Jo H D HFIN $374,627 $33,850 $129,720 $51,370 $54,886 $4,500
King, Pete H R HFIN $1,680,920 $267,176 $340,670 $246,361 $430,996 $127,489
Klein, Ron H D HFIN $2,169,916 $117,650 $886,641 $220,797 $438,108 $68,200
Kohl, Herb S D $73,950 $450 $21,250 $2,250 $18,200 $0
Kosmas, Suzann H D HFIN $603,406 $14,900 $180,970 $164,335 $81,336 $32,200
Kyl, Jon S R SFIN $4,642,553 $498,741 $1,458,398 $775,794 $834,662 $196,943
Lance, Leonard H R HFIN $531,856 $51,200 $117,200 $138,173 $107,402 $9,800
Lee, Christopher H R HFIN $564,420 $68,300 $135,525 $125,698 $81,825 $32,500
Lincoln, Blanche S D SFIN $3,386,952 $470,520 $463,648 $771,983 $1,070,904 $62,875
Lucas, Frank D H R HFIN $1,109,254 $380,014 $135,083 $170,975 $131,250 $50,300
Lynch, Stephen F H D HFIN $951,194 $79,150 $437,625 $151,999 $139,600 $11,800
Maffei, Dan H D HFIN $884,500 $77,300 $183,754 $162,387 $254,386 $34,491
Maloney, Carolyn H D HFIN $3,383,090 $411,139 $727,344 $380,471 $957,900 $231,904
Manzullo, Don H R HFIN $1,640,172 $443,456 $333,674 $283,326 $238,229 $105,080
Marchant, Kenny H R HFIN $731,680 $161,844 $130,650 $109,170 $78,150 $49,900
McCarthy, CarolynH D HFIN $1,283,745 $135,425 $244,050 $253,099 $396,825 $69,000
McCarthy, Kevin H R HFIN $1,458,551 $141,150 $353,875 $370,007 $273,850 $88,500
McCotter, Thad H R HFIN $1,009,866 $128,437 $286,237 $214,398 $91,490 $71,000
McHenry, Patrick H R HFIN $1,461,885 $264,219 $299,016 $274,065 $151,900 $151,150
Meeks, Gregory WH D HFIN $1,879,798 $225,300 $302,940 $391,428 $427,746 $269,192
Menendez, RobertS D SBAN and SFIN $5,346,214 $415,200 $2,458,163 $659,629 $1,089,412 $149,067
Merkley, Jeff S D $748,407 $36,100 $210,910 $80,050 $269,567 $4,250
Miller, Brad H D HFIN $976,390 $104,250 $225,249 $246,219 $156,025 $32,000
Miller, Gary H R HFIN $962,087 $71,500 $538,644 $128,168 $47,550 $22,850
Minnick, Walt H D HFIN $976,743 $105,075 $115,559 $127,001 $390,699 $58,500
Moore, Dennis H D HFIN $2,343,241 $260,400 $346,804 $494,750 $469,804 $260,361
Moore, Gwen H D HFIN $492,894 $126,029 $67,450 $172,250 $43,350 $21,915
Nelson, Bill S D SFIN $3,381,836 $205,749 $1,152,445 $588,896 $714,831 $79,950
Neugebauer, Ra H R HFIN $1,732,888 $336,479 $461,181 $253,421 $194,660 $59,049
Paul, Ron H R HFIN $1,793,777 $103,007 $496,562 $141,011 $395,161 $19,332
Paulsen, Erik H R HFIN $1,025,657 $151,500 $169,599 $217,123 $176,600 $21,000
Perlmutter, EdwinH D HFIN $1,242,175 $174,100 $403,562 $177,553 $148,522 $83,040
Peters, Gary H D HFIN $521,723 $49,250 $136,253 $97,639 $85,756 $32,500
Posey, Bill H R HFIN $368,363 $65,850 $111,215 $71,073 $35,650 $14,500
Price, Tom H R HFIN $1,320,809 $150,825 $319,247 $338,871 $136,733 $145,687
Putnam, Adam H H R HFIN $1,097,898 $181,900 $201,901 $310,025 $123,269 $75,763
Reed, Jack S D $3,412,892 $565,264 $733,624 $595,667 $957,085 $140,829
Roberts, Pat S R SFIN $1,891,036 $526,674 $240,431 $375,592 $417,762 $64,178
Rockefeller, Jay S D SFIN $2,242,434 $254,108 $553,907 $412,374 $604,528 $16,550
Royce, Ed H R HFIN $3,252,832 $278,394 $578,000 $708,730 $474,450 $242,570
Schumer, Charles D SBAN and SFIN $18,889,181 $1,319,175 $4,156,157 $1,455,100 $9,136,472 $343,734
Scott, David H D HFIN $1,436,264 $230,351 $210,000 $300,849 $232,950 $122,428
Shelby, Richard CS R $8,019,390 $1,313,933 $1,504,553 $1,299,098 $2,018,892 $732,079
Sherman, Brad H D HFIN $2,016,639 $161,100 $679,734 $198,110 $192,650 $58,250
Snowe, Olympia JS R SFIN $1,758,734 $137,845 $298,863 $440,690 $266,390 $332,700
Speier, Jackie H D HFIN $441,771 $9,050 $122,900 $96,912 $114,349 $9,000
Stabenow, DebbieS D SFIN $2,339,350 $291,896 $583,944 $393,847 $599,153 $77,400
Tester, Jon S D $812,128 $120,170 $128,720 $119,011 $253,684 $27,350
Velazquez, Nydia H D HFIN $1,481,324 $340,350 $184,860 $173,650 $283,050 $175,250
Vitter, David S R $2,634,434 $305,749 $725,127 $395,893 $613,866 $79,392
Warner, Mark S D $5,596,160 $237,150 $1,397,648 $400,550 $2,265,350 $137,900
Waters, Maxine H D HFIN $572,610 $25,850 $309,489 $24,950 $93,150 $2,500
Watt, Melvin L H D HFIN $1,063,328 $354,072 $142,650 $135,464 $160,068 $70,400
Wilson, Charlie H D HFIN $492,764 $115,250 $105,936 $116,260 $45,100 $16,250
Wyden, Ron S D SFIN $3,289,724 $196,700 $890,743 $413,773 $978,680 $34,700
*NOTE: All the numbers on this page are based on Federal Election Commission data available electronically on Monday, January 10, 2011.
Feel free to distribute or cite this material, but please credit the Center for Responsive Politics.
OpenSecrets Blog
They are TREASONISTS SCUM posing as AMERICANS. They are TRAITORS, BENEDICT ARNOLD’S. We The People must throw them out on their ears. They represent no one but the FOREIGN INTEREST, the U.N. AGENDA 21, and are helping them to destroy America. We must DEMAND OUR SOVEREIGNTY FROM THE EVIL EMPIRE, THE NWO.
Democratic Attorneys General Assn: Donor Search 2010 cycle
$10,000 AMERICAN EXPRESS American Express NEW YORK NY 10/18/10
$3,750 AMERICAN LEGAL FINANCE ASSOCIATION American Legal Finance Assn BROOKLYN NY 10/18/10
$3,750 AMERICAN LEGAL FINANCE ASSOCIATION American Legal Finance Assn BROOKLYN NY 11/16/10
$5,000 BANK OF AMERICA Bank of America Leasing Group CHARLOTTE NC 07/29/10
$25,000 BANK OF AMERICA Bank of America Leasing Group Charlotte NC 02/05/10
$29 BANK OF AMERICA Bank of America Leasing Group CHARLOTTE NC 08/12/10
$25,000 BANK OF AMERICA Bank of America Leasing Group CHARLOTTE NC 09/21/10
$25,000 CAPITOL ONE Capital One Financial RICHMOND VA 07/29/10
$50,000 CITIGROUP Citigroup Global Markets, Citigroup Inc Washington DC 02/26/10
$1,000 CL VERIFY LLC Cl Verify Llc Tampa FL 02/05/10
$50,000 COMCAST FINANCIAL AGENCY CORP Comcast Financial Agency Corp Philadelphia PA 10/18/10
$101,000 DAGA Inc DAGA Inc DENVER CO 09/01/10
$15,000 DAVID BOHNETT (venture capitalist) BEVERLY HILLS CA 09/21/10
$25,000 DICKSTEIN SHAPIRO LLP(lobbying firm) Dickstein Shapiro LLP Washington DC 02/05/10
$10,000 ETC CAPITAL, LLC ETC Capital Novi MI 02/05/10
$50,000 ETC CAPITAL, LLC ETC Capital, Llc Novi MI 11/16/10
$2,500 HAYFIELD INVESTMENT PARTNERS, LLC Hayfield Investment Partners LLC Kansas City MO 09/21/10
$25,000 JP MORGAN CHASE JPMorgan Chase & Co CHICAGO IL 07/29/10
$2,500 NCO FINANCIAL SYSTEMS, INC Nco Financial Systems Horsham PA 07/29/10
$15,000 PROPERTY CASUALTY INSURANCE Property Casualty Insurers Assn/America DES PLAIR IL 09/21/10
$10,000 SECURITY FINANCE CORPORATION Security Finance Corp SPARTANBURG SC 01/18/10
$25,000 STATE FARM INS State Farm Insurance BLOOMINGTON IL 10/18/10
$10,000 STATESIDE ASSOC (lobbying firm) Stateside Assoc Arlington VA 01/08/10
$60,000 THE ACCOUNTANTS COALITION Accountants Coalition Alexandria VA 09/21/10
$25,000 US CHAMBER OF COMM & RELATED ENTITIES Us Chamber Of Comm & Related Entities Washington DC 11/16/10
$10,000 WESTERN UNION Western Union GREENWOOD VILLAGE CO 07/29/10