The Market Ticker – Attorneys General Knob-Job Banks (Again)
Instead of prosecuting, we have this….
Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM), along with three other U.S. mortgage servicers, proposed paying $5 billion to settle a probe of their foreclosure practices by state and federal officials, two people familiar with the matter said.
Uh huh.
Note that what the banks want is immunity from prosecution.
They must also reach an agreement on the claims state officials and federal regulators will surrender as part of any settlement. Banks are less likely to sign off on any deal that doesn’t provide a broad release of claims from state attorneys general in the most populous states.
Why would they need that? Well, it might have something to do with this sort of thing:
Perhaps it’s due to the sort of irregularity being discussed here?
Back to the assignment from First Meridian. First Meridian could not have provided instructions to MERS to convey a title they did not hold in 2010! Not only did First Meridian not exist in 2010, but they never filed bankruptcy either!! Instead they joined TRUMP FINANCIAL in 2007 and TRUMP FINANCIAL later ceased to operate!
Uh, you mean that MERS, as “nominee”, is transferring rights in paper from an entity that doesn’t exist, and therefore they can’t have nominee status for that entity any longer?
There isn’t anything wrong with that is there? There isn’t anything wrong with a firm that is being assigned to proffering and causing to be prepared an assignment to itself, right?
Wait a second…. how does the “to” (grantee or transferee, if you will) acquire the right to assign something from the transferOR?
Hmmmm……
Mr. AG….. Mr. AG your “have a few drinks and don’t bother actually doing your job protecting the taxpayer and citizen” phone is ringing again.
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America’s Wholesale Lender Corporation is the named ‘LENDER’ on my original docs. Problem for AWL is that it was not formed in the named state (NY) at the time. Someone else did later create the corporation in NY.
Now, Litton just LOVES to create much more recent assignments from America’s Wholesale Lender Corporation to whichever Trustee for a REMIC trust they are supposedly working ‘for’. Only the Trustees normally do not know the servicer is foreclosing or doing these botched assignments.
My 2010-dated and recorded assignment was created long after the foreclosure was started by Litton, and long after the 2005 pool closed.
How can Litton use MERS to sign as a nominee of a company that NEVER EXISTED?
Even the way in which these AWL loans acquired MERS’ MIN numbers should be called out as FOUL.
They were allowed to use a different company’s membership in MERS to acquire the MIN identifiers for all the AWL Corp loans per depositions of the ex-honchos of MERS.
Payoff. The banks want to make a payoff. No, it is a legal bribe. It is a way for Albalba and the 40 major theives to give the government a shake-down fee in return for them to be allowed to rob the people from Jerusalem to Jericho. I mean from Key West to Portland.
Of course the takerment will take the bribe. Haven’t they already passed a Senate resolution that all Banks hand out condoms and KYJ to judges across the nation to be used on home owners?
Of course we the people question the injustice bank money has bought. But question is not enough. We need a war. We need a war of people against banks. How can we win? Take all your rmoney out of the banks and put it into a credit union. Problem is, Americans will not do it. They do not want to fight back where it counts. If people would quit lining up at BOA ATM machines and take their money out of that den of thieves, these banks would not survive a month. We could stop all this mess. But I suspect if this started, the FEDs would come in and stop closing down of accounts. This to insure they will get the bribe money they have been calling around to get since this mess started back in 2007.
Will the takement take the bribes offered by the banks? Yes, they will take it. Then what? Well, on each state takerment level, they will push through new legislation that will allow the banks to continue in foreclosures and all these legal issues raised about standing, capacity, ownership and holder of the note, illegal and fraudulent claims of securitization, violations of UCC, RESPA, SEC laws, and TILLA will all be legalized.
Wait for these legislations to come here in Florida from Democrats and Republicans. In this day, think it not strange to see violence which this mess has nearly started for the past 5 years.
I pray our takerment will not take the offered bribes to authorize the pillage, rape, slash, and abuse against home owners.
I now question if there is liberty and justice for all. Maybe if you live in an apartment or under a bridge, but not if you live in a house.
Remember what I wrote a week or so ago?
The deal will be so far reaching that it will give immunity or amnesty if you will to the big banks. A settlement like this does nothing for the housing market or the people suffering from criminal fraud. It is a sell-out for money, graft! If the people fail to protest or put pressure on the AGs this deal will go down and the bankster will laugh all the way to the bank.
Think of it like BP’s little oil spill. Who made record profits after the spill? Who got their hand slapped? Who continues to drill?
Same thing. Until the people take back this country, the Republicans will continue to hand it over to Corporate Capitalism!
Remember you read it here.
Back to the assignment from First Meridian. First Meridian could not have provided instructions to MERS to convey a title they did not hold in 2010! Not only did First Meridian not exist in 2010, but they never filed bankruptcy either!! Instead they joined TRUMP FINANCIAL in 2007 and TRUMP FINANCIAL later ceased to operate!
Same thing in my case occurred of course with different a entity whom MERS (robo signed by the way) (Liquenda Allotey) in 2009. I also have a letter from MERS (2002) that the loan had been transferred OFF the MERS system and Min# deactivated !! The original lender was acquired by another company in 2005 and the FDIC SHUT them down in Sept. 2007
Who the F is getting the settlement funds?? How does this help the homeowners who were criminally defrauded out of their home????? That’s what I want to know. If this settlement of 5 billion going to the homeowners in florida it may b a start. These culprits are felons. Criminals of massive proportions. Why is this an option if its nothing more than a cover up for all that truly happened. How DOES THIS help homeowners or our justice system for Gods’ sake. Are we the people going to allow this rape and fraud that is demolishing an entire class?? Is this nation really going to tolerate this from banks who are guilty of fraud of felonies of conspiracy and on and on it goes. Where are the sentences? I think our entire system needs gutting and we need people who are not obligated by receiving donations and pay offs from the banks and their attorneys. The judges who are allowing this need to BE INVESTIGATED down to their mortgage or their satisfactions of same. This world is sick and demented and needs an enema! Not to quote the joker, but its a great line and is so fitting here. Its time to take a stand and stop allowing this contamination of our nation. Debi 561-389-9339
Today on CNBC, Larry Kudlow posed a question to a guest: “Did insider trader cause the FINANCIAL MELTDOWN IN 08?” The guest replied, it was a part of it, that greed caused the meltdown.” Rescind those ILLEGAL, FRAUDULENT MORTGAGE CONTRACTS!!!! FRAUD IN THE CONTRACT. KILLS THE CONTRACT. RESCIND!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!The people have paid enough for the PONZI SCHEME CRIMES OF THE WEALTHY!!!!!!!!!!!!!!!!!!!!!!!!
In the same spirit that a small group of Republican AG’s broke away and started saying the group was being too tough, a small group of other one’s should break away, obtain indictments, and issue arrest warrants. Something tells me that would send a message at least as strong as the breakaway crowd sent. As the bankers sit in jail, and ponder sitting in prison, they might be more willing to negotiate in good faith. They can write off sitting in prison for the breakaway Republican’s, but that still leave dozens of state’s on-board and each has a fine penal system more than capable of housing bankers for the rest of their lives.
I Vent, I took the liberty of taking one of your comments and I enhance it a little bit, hope you don’t mind, and hope you like it
The people have to catch up to the whole Ponzi Scheme, which is really Insane: Fannie/Freddie, Appraisal FRAUD, HUD Fraud, FDIC Insured Bank Fraud, Contracts fraud, Pretender lender fraud, Lender fraud, Ratings agency fraud, Origination fraud, Fraudulent inducements, Second Bankster fraud, MERS (Mortgage Electronic Registration Systems) fraud, Securities fraud, Goldman SUCKS!, Lehman Bros. and many more selling bad loans to their investors, New pin numbers to hide the origination fraud, REMIC (Real Estate Mortgage Investment Conduits) fraud, Speculating on that fraud and making 100 Trillion dollars on the same fraud on WALL STREET with such Mortgage Derivatives as CDO’S (collateralized debt obligations ) when Banks knew would fail, MBS (Mortgage Back Securities) fraud, AIG Fraud knowingly insuring bad, trap, and liar loans, Credit Default Swaps Insurances fraud, Title CO. fraud, Intentionally creating a massive housing bubble with fraud while they knew would cause a financial crisis, Intentional stock market collapse, The clear and present robbery and swindle of American people in front of their own eyes, Institutions that set the American people up to fail who sent JOBS overseas, Forgeries of legal Docs, Where Are The Notes?? Where are the Original Notes?? (Destruction of Notes) Fraudulent Affidavits (also to fraudclosure), No Proof of ownership by the pretender Lender, Non Judicial Foreclosures, The Bill HR 3808, Constant Wars: ( http://costofwar.com/en/ ) Massive JOB Losses, New Impoverishment of the people, Blaming the VICTIMS, The breakup of the families, Destroyed credits, Mass UNEMPLOYMENT, People not able to afford to send kid’s to college, Abandoned pets ( due to foreclosures), Bank owned abandon properties http://www.nytimes.com/2011/03/31/us/31bat.html , People living in their CARS (thanks to Fraud-Closures). No due process in courts on foreclosures, Flouting of the property rights and constitutional rights of we the people to steal homes Banksters don’t Own, Giant Corporations that pay no taxes, Overseas tax heavens for the super rich, Giant BON– USES for the crooks at Chase, Wells Fargo, Bank of America, Citibank, Freddie, Fannie and the CEO’S who robed the people, Wealth stole in overseas bank accounts, Lack of affordable Medical Care, Hyper-Inflated Property Taxes, Short Sale fraud (watch video) http://youtu.be/8esGSOos2lo, Loss of pensions, Loss of 401 K’S, Loss of Commercial Property Investments, Hyper-Inflation, Deflation. THE FED, The T.A.L.F (Term Asset-Backed Securities Loans). The BAILOUTS, The lies: you were denied for help by the bank, we want you to sell your home that we DON’T OWN so we can sell it and make thousand of dollars even that we don’t have the Mortgage Note, Banksters strong arming the American people for delinquencies they don’t owe. Force Insurance Violations, Frozen credit for main street, Cash For Keys Fraud (I can explain that one), Deed In Lieu Fraud, Cross Collateralization Fraud, Scrivener’s errors fraud (person who writes out deeds, copyist, professions, a notary), Robo-signing Fraud, (the automatic generation of document which turn out to be ruled illegal.), FRAUDCLOSURES, Devastated Communities, Bankrupting America to pay for all of the Mortgage Fraud and The Ponzi Scheme Heist. The Bail Outs (that stills continues through the back door Fed) and finally, the fact that the American people have not wake up to all of these insanity, Its Shocking to say the least !
Bottom-line the banks wrote more mortgages than they had assets to hold… they foreclose because they have to… there is nowhere to keep all these loans, (2) there was no disclosure to t…he borrower who had no idea his collateral, promise to pay and credit score was going to be used to bait investors in the Big Ponzi Scheme, and (3) if the borrower had known 1 & 2 and that the appraisals were inflated – there likely would not have been a new mortgage or refinance… and certainly the borrower wouldn’t have wrapped his unsecured credit card debt into his new secured mortgage, if he had understood the consequences… but then there was no fiduciary duty between a lender and a customer – or was there?
acmodspecialist, Thank you for adding all of that info. I know I left out alot. This is a bottomless pit for sure. I think the key to how they pulled this PONZI SCHEME HEST off and what has been swept under the rug for the most part is where WE were set up for this scam and the highly deceptive way they did it. The fact we walked into an FDIC insured bank to buy a home and the main agency involved in this was a GSE, was a mass and highly criminal deception. The fact that this debt is UNSECURED is also being covered up. The whole loans are riddled with fraud, ONE act of fraud kills the entire contract. Many balls were dropped here and it was clearly intentional. There was no protection for the consumer. If we could have purchased mortgage fraud insurance to protect ourselves against them, none of this would have ever happened. We were all deceived into trusting too much. How were we to know not to trust a name like GSE and FDIC and SEC? We now know there are 2 faces to everything, nothing is as it seems.. That is also a highly ILLEGAL and UNCONSTITUTIONAL MISREPRESENTATION.
U.S. LEAD PROSECUTING ATTORNEY SAID TODAY: ” RULES AND LAWS APPLY TO EVERYONE”. In his comment about the Rajaratnam guilt verdict.
There is an apparent UNCONSTITUTIONAL CONFLICT OF INTEREST AT PLAY HERE. I believe this goes way deeper than corruption, they are all no doubt fully invested in the MBS FRAUD.
TRUMP FINANCIAL? I knew TRUMP was ALL IN ON THIS. I thilnk it was Piers Morgan who asked him about the housing market and he said the Foreclosures must get moving again. TRUMP IS JUST ANOTHER PARASITE.