Excuse my language, but what an outright, F…ING sham!

Our government has allowed the banks to select and hire the compnies that will review their illegal behavior; companies that have contracted with them in the past, may have other contracts with them currently, and may have contracts with them in the future. Now just how much incentive will these companies have to report rampant, egregious, FRAUDELENT behavior of a bank that can simply refuse to hire them again, for other work?

The people testifying on behalf of the companies doing the “independent” reviews aren’t believable even for a second…not their words, not their tone, not their body language.

As I listened to the testimony of Ann Kenyon, Deloitte & Touche LLP (hired by Chase) I can only wonder how this woman can live with herself. Is she so caught up in her job responsibilities, that she doesn’t go home, at night, and think about the massive fraud she is helping to cover up… or about the financial and emotional distress Chase has unnecessarily caused so many homeowners?

Another interesting note in the testimony is that the companies doing the reviews will not be allowed to talk directly to any homeowners. If they have questions about the homeowners complaints, they can only ask the banks for more information, not the homeowner. It’s unbelievable.

What’s so frustrating is that the take-away thought for most Americans is that the banks are being forced to compensate injured homeowners…. our govenrment is working well. All is right in the world. Few will understand the real facts.

But I must remind myself. I am completely naïve to have expected anything else!

Thank for you the video. Looks like the robosigning period (2009-10) will be “investigated” in a non-transparent process because of ” the Trade Secrets Act” which prohibits full disclosure (!)

Seems the OCC outsourced this investigation to consultants who have dealinlgs with the servicing banks,( if not directly involved in the mortgage area, they do business with the major banks in other ways. )

The servicers had input into the complaint forms, the categories listed on them. Not all categories under which homeowners’ losses are considered made it onto the form because, per the OCC, ” because “it’s technical and would only confuse homeowners.” (!)

The woman from Deloite working with the Chase accounts said the investigators would have 3 weeks of training and their findjngs would be reviewed by two others with more experience in mortgages.

Doesn’t sound like a very good deal for the robosigned.

Thank you.

‘Fight the Good Fight”