Attorney General Bondi’s Office Leads Investigation Resulting in Approximately $120 Million Multi-State Settlement with Lender Processing Services, Inc.
TALLAHASSEE, Fla. –Attorney General Pam Bondi today announced that her office, 45 other Attorneys General and the District of Columbia have reached a settlement in excess of $120 million with Lender Processing Services, Inc. and its subsidiaries, LPS Default Solutions and DocX, after an investigation led by her office. The proposed consent judgment, to be filed separately in each participating state, resolves allegations that the Jacksonville-based company, which primarily provides technological support to banks and mortgage loan servicers, “robo-signed” documents and engaged in other improper conduct related to mortgage loan default servicing. When entered by the court, the judgment would require LPS and its subsidiaries to reform its business practices and, if necessary, to correct documents it executed to assist the homeowner. Florida’s share of settlement is approximately $8.6 million. The lawsuit and proposed consent judgment are being filed today in Hillsborough County.
“This settlement reflects the efforts of the states to work together to remedy the widespread abuses occurring in the residential mortgage industry in the past few years,” stated Attorney General Pam Bondi. “The proposed judgment holds LPS and its subsidiaries accountable and requires reforms that ensure the proper handling of residential mortgage-related documents.”
Among other things, the consent judgment will require proper execution of documents and prohibit signature by unauthorized persons or those without first-hand knowledge of facts attested to in the documents, enhanced oversight of the default services provided, and a review of all third-party fees to ensure that the fees have been earned and are reasonable and accurate. The settlement also accomplishes the following:
- Prohibits LPS (including DOCX) from engaging in the practice of surrogate signing of documents;
- Ensures that LPS has proper authority to sign documents on behalf of a servicer, if in fact it is signing documents;
- Requires LPS to accurately identify the authority that the signer has to execute the document and where that signer works;
- Prohibits LPS from notarizing documents outside the presence of a notary and ensures that notarizations will comply with applicable laws;
- Prohibits LPS from improperly interfering with the attorney-client relationship between attorneys and services;
- Prohibits LPS from incentivizing or promoting attorney speed or volume to the detriment of accuracy;
- Requires LPS to ensure that foreclosure and bankruptcy counsel or trustees can communicate directly with the servicer;
- Requires LPS to have enhanced oversight and review of processes over third parties it manages, including those entities that perform property preservation services;
- Prohibits LPS from imposing unreasonable mark-ups or other fees on third party providers’ default or foreclosure-related services;
- Requires LPS to establish and maintain a toll-free phone number for consumers concerning document execution and property preservation services (including winterization, inspection, preservation, and maintenance); and
- Requires LPS to modify mortgage documents that require remediation when LPS has legal authority to do so and when reasonably necessary to assist a consumer or when required by state or local laws.
In the proposed settlement, LPS stipulates to important facts uncovered in the investigation, including the practice by Doc X of so-called “surrogate signing,” the signing of documents by an unauthorized person in the name of another and notarizing those documents as if they had been signed by the proper person, as well as other improprieties in the document execution and recordation or filing process.
Once the judgment is entered by the courts, LPS will undertake a review of documents executed during the period of January 1, 2008 to December 31, 2010 to determine what documents, if any, need to be re-executed or corrected. If LPS is authorized to make the corrections, it will do so and will make periodic reports to the Attorney General of the status of its review and/or modification of documents. Consumers may also call the LPS toll-free number and request review and correction of any documents executed by LPS at any time. The toll free number will be available within 10 days after the consent judgment is entered.
The following states joined Florida in today’s settlement: Alabama, Alaska, Arizona, Arkansas, California, Connecticut, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, and the District of Columbia.
SOURCE: http://www.myfloridalegal.com
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ADDENDUM written to report findings by association of FRAUD and KICKBACKS
Alleged by Fifth Third Bank, Mortgages and Country-wide home loans.
1. THIS ADDENDUM hereby brings concerning to the following
Article: Fifth Third Bank sued over alleged kickbacks of mortgage insurance
April 7, 2012 12:00 am http://www.post-gazette.com/stories/busi….
By Rich Lord / Pittsburgh Post Gazette (manuscript title) Key Quote:
“Unknown to the borrowers, Fifth Third had arrangements with the insurers under which they bought “reinsurance” from a subsidiary of the bank called Fifth Third RE, according to the complaint. The reinsurance, it said, was written in a way that the bank assumed little or no risk.
The insurers “had no choice but to enter into virtually identical reinsurance contracts with Fifth Third RE or risk losing business,” the complaint said.”
A Cincinnati-based bank is accused in a lawsuit filed Thursday of taking “disguised, unlawful referral fees” or “kickbacks” from mortgage insurers.
The lawsuit against Fifth Third Bank, several related companies and six mortgage insurers by three borrowers seeks to become a nationwide class action. It appears to be one of several similar suits against banks following a 2009 ruling by the 3rd U.S. Circuit Court of Appeals, in a case by some of the same attorneys who are now suing Fifth Third, that opened the door for such litigation.
The plaintiffs, Christopher Manners of Latrobe and Jamie and Aimee Young of Carbon Cliff, Ill., got mortgages from Fifth Third in 2007, according to the complaint in U.S. District Court.
When homebuyers are unable to make down payments of 20 percent of the home’s purchase price, banks typically require private mortgage insurance on the loan. The bank picks the insurer and arranges for the coverage, against which it makes a claim if the borrower defaults. The borrower pays the premium as part of their mortgage payment.
Fifth Third arranged insurance for Mr. Manners at a cost of $166.80 per month, and for the Young’s for $33.35 per month, according to the complaint.
Unknown to the borrowers, Fifth Third had arrangements with the insurers under which they bought “reinsurance” from a subsidiary of the bank called Fifth Third RE, according to the complaint. The reinsurance, it said, was written in a way that the bank assumed little or no risk.
The insurers “had no choice but to enter into virtually identical reinsurance contracts with Fifth Third RE or risk losing business,” the complaint said.
Fifth Third from 2004 through 2011 got $54 million in reinsurance premium payments from the insurers, and only paid out $4.9 million in claims, according to the complaint. It said that this amounted to “a sham” and a violation of the Real Estate Settlement Procedures Act. RESPA bars lenders from taking referral fees from other parties involved in the loan, the complaint said.
Fifth Third spokeswoman Barbara Grimsley said the bank doesn’t comment on litigation.
Pittsburgh attorney Stephen J. O’Brien and several other lawyers filed the complaint. They could not be reached for comment Friday.
Some of those attorneys — though not Mr. O’Brien — represented plaintiffs in an Eastern Pennsylvania lawsuit against lender Countrywide Financial Corp. and its reinsurance subsidiary that was resolved last year.
That lawsuit was initially dismissed when Countrywide argued that the contracts between its subsidiary and the private mortgage insurers didn’t result in any overcharges to consumers. But the 3rd Circuit found that RESPA could be violated even if there were no overcharges.
That lawsuit was settled with the creation of a $34 million settlement fund to cover payments to Countrywide borrowers and the attorneys.
Rich Lord: rlord@post-gazette.com or 412-263-1542.
First Published 2012-04-07 04:08:47
2. Other parties, alleged Publications supplemented to this Addendum are:(corresponding author)
Parties alleged guilt by Association: The several denials for modifications by Country-wide, than Fifth Third Bank approval and all the exaggerated documents like Appraisal, Credit, and later Forced Placed insurance, than covering it up as it was never on record. Now because of the OCC dispute. I received a Letter from the very person at FITH THIRD BANK that covered up the “Forced Placed Insurance, Fraud they did to me”. They need to give my home back to me with comp! Without prejudice!
Robert Tatge Feb 6, 2013
(Date) August 22, 2008 Hassan Nagi Indicted in $1.9 Million Michigan Mortgage Fraud Scheme A federal grand jury in Michigan has indicted four men–including a mortgage broker and an appraiser–for allegedly running a $1.9 million real estate/mortgage fraud scheme. Hassan Nagi, 30, of Dearborn Heights, Michigan; Ali Haidous, 24, of Dearborn; Safi Bzeih, 35, of Dearborn; and Hussein Aoun, 23, of Dearborn Heights reportedly conspired to secure fraudulent mortgages from Countrywide Bank, Washington Mutual, Fifth Third Bank, Indy Mac Federal Bank, Net Bank, and Sun Trust for more than 15 properties between April 2005 and April 2008.
The indictment alleges that Hassan Nagi worked as a mortgage broker and was responsible for submitting false and fraudulent applications to obtain the mortgages. Ali Haidous was a real estate appraiser who provided fraudulent appraisals for the properties. Bzeih and Aoun recruited sellers and straw buyers for the properties.
According to the indictment, after the Nagi and Haidous identified a willing seller of a property, Nagi secured financing for a straw buyer. False income and employment information was provided to the lender using fraudulent W-2 forms. In support of each loan, Nagi also submitted an inflated appraisal, created by Haidous.
After the inflated mortgage was funded at closing, the seller received sufficient funds to pay off any existing mortgage as well as a bonus for participating in the real estate fraud scheme. The remainder of the proceeds from the inflated mortgage were shared between Hassan Nagi, Ali Haidous and one of the straw buyers.
Nagi, Haidous, and Bzeih were expected to appear in federal court before Magistrate Judge Virginia Morgan yesterday afternoon, for their initial appearances and arraignment on the indictment. Hussein Aoun is a fugitive in Lebanon. The case is being prosecuted by Assistant U.S. Attorney Leonid Feller.
Posted By: Ralph Roberts @ 9:07 pm | | Comments (0) | Trackback |
Filed under: Countrywide,Fifth Third Bank,IndyMac,Michigan,Mortgage Fraud,Net Bank,Real Estate Fraud,Sun Trust,Washington Mutual
. Other parties, alleged Publications supplemented to this Addendum are:(corresponding author)
Parties alleged guilt by Association: The several denials for modifications by Country-wide, than Fifth Third Bank approval and all the exaggerated documents like Appraisal, Credit, and later Forced Placed insurance, than covering it up as it was never on record. Now because of the OCC dispute. I received a Letter from the very person at FITH THIRD BANK that covered up the “Forced Placed Insurance, Fraud they did to me”. They need to give my home back to me with comp! Without prejudice!
Robert Tatge Feb 6, 2013
Robert L. Tatge
13100 Skyline Drive
P.O. Box 363
Spicer, MN. 56288
Fifth Third Bank
Kevin T. Kabat, President & CEO Fax 513-358-3493 Madisonville Operations Center
MD1MOC2N
Cincinnati, OH. 45263
Dear President Mr. Kabat:
RE: Mortgage Loan: 404876203 Three situations occurred during the Foreclosure process that I believe were important, illegal and unfairly place on me, therefore to consider this Foreclosure invalid.
* Forced Placed Hazard Insurances, $500.00 per month.
* Mortgage Broker manipulation of appraisal, loan application, and my credit. * Conflicting and imbeciles’ amount stated on the Foreclosure Notices.
Gentlemen, I’m writing this letter to explain to you some of the discrepancy during the Foreclosure process that I had to go through. There are three that really brought the Foreclosure to a head. The one that actually broke my back was the Forced Placed Hazard Insurances, $500.00 more a month when I was living on pay-check to pay-check. The additional charge forced me to cash in stock and part of my 401K retirement plan, paying the extra taxes that went along with the process. After paying many months with the addition charges, I started to lose ground. Until recently I knew, I had insurance since the original mortgage with Country-wide Home Loans, and it was required for the loan with Fifth Third Bank. Just lately, I was with my Lawyer, we called, Pioneer Heritage Insurance, PO Box 716, Spicer, MN. 56288, phone# (320) 796-2169. Gentlemen, they stated I had continued and uninterrupted insurance on the property and they fax over the proof: Exhibit” A”. The reason this was wrong, was that I had insurance and Fifth Third Bank paid for it out of my Escrow every year since origination of the Home Loan Mortgage, Fifth Third Bank approved for me.
My original home mortgage loan made by FIFTH THIRD BANK was signed by me, Robert L. Tatge (a single person) on January 4, 2008 for $310,000.00 @ 6.375% for 30years on a refinanced loan made prior with COUNTRY-WIDE HOME LOANS back on JUNE 12, 2002, for $178,817.91 @ 7% for 30 years.
The second problem that throws up a red flag is the mortgage broker that put the loan application together for our approvals. I’m not sure of his name, and you probably could help me out with that. He said, He could improve my credit, and I could take cash out, that was very cheap money, because of the high equity I had in my home. This was highly suspicious, not taking into consideration my age or ability to pay the extra money back. Now that I look back, he found and new ways to derive benefit by manipulation. My home was built year 1975: (The TRUTH 1900). Appraisal manipulation, to my understanding this broker wasn’t satisfied with the first appraisal from: Forsythe Appraisals, LLC, 54 28th avenue North, St. Cloud, MN. 56303 Phone 320-259-8958 He asked the appraiser to treat the property like it was on Lake Minnetonka, so the second time it came in at $420,000. It satisfied the loan guidelines. Then he sent me two checks, one he asked if I would destroy, I did, the other I cashed:
Exhibit “B,” (He said, he had other companies,) that’s why the check was drawn on: MJC ENTERPRISES LLC, 5115 EXCELSIOR BLVD., SUITE 422, SAINT LOUIS PARK, MN 55416
This was unfair because my property tax statements for years 2007 through 2009 stated: MARKET VALUE ESTIMATED $324,700 IN 2007/2008 which is $95,300 less than appraisal. The second property tax statement for years 2008/2009 which is $92,000 less than appraisal.
I ask for a modification JUNE, 2009 and was denied because of insufficient income; I keep up my requests and hired a lawyer, Avi Liss, Liss Law, LLC., Hereford Street, Boston, MA, 02115 (W) phone 617-778-0363 Finely brought me a modification on August 1, 2009 (lawyer said it was the Best he could do!) Loan Amount $327,410.93 @ 5.375% for 40 years, graduated principal by $17,410, lowered interest by 1%, making the pay off difference before the modification the principal was $310,000,00 interest $386,238.81 = $696,238.81… New Modified Mortgage 40 years, principal $327,410.93, interest $489,836.12 = $817,247,247.05… The difference of $121,008.24 it was Unaffordable, I signed it at the Lawyers suggestion. Beginning with the payment due 08/01/2009 monthly Including escrow were $2,135.51 Knowing this modification wasn’t something I could afford , I asked for HELP, A FORBEARENCE PLAN was offered: Exhibit “C,”: The “Forbearance Plan” offered: The due dates were set-up all wrong.
The third misrepresentation and final stress, on all FORECLOSURE NOTICE’S sent out by the Lawyers representing Fifth third BANK: Usset, Weingarden & Liebo, PLLP, 4500 PARK GLEN RD, #300, MINNEAPOLIS, MN 55416, PHONE 952-925-6888, Knowingly this is information sent to the lawyers from Fifth Third Bank, mislead the mortgagee.
Exhibit “D,” Multiple & Conflicting Dollars amounts in Default on “Foreclosure notice” making it impossible for Mortgagee to understand what they meant and get help if needed.
#1: March 9, 2009 $12,880.19
#2: March 9, 2009 $15,276.19
Exhibit “E:” Multiple & Conflicting Dollars amounts in Default on “Foreclosure notice” making it impossible for Mortgagee to understand what they meant and get help if needed.
#1: March 22, 2011 Fifth Third Bank said I owed $2,365.80 to reinstate mortgage.
#2: March 22, 2011 Fifth Third Bank said I owed $3,874.40 to reinstate mortgage.
#3: March 22, 2011 Fifth Third Bank said I owed $35,100.90 to reinstate mortgage.
.
I had a 3 Hernia Operation on August 5, 2011 @ the VA Hospital in Minneapolis, MN.
I had to stay in the hospital because I was on a Vac healing machine that restricted my staying in the hospital and their rules. Outside contact was difficult. I still have a home health nurse that comes to my home every Wednesday until Mid-April. Fifth Third Bank knew of my operation and still proceeded with the foreclosure by having the sheriff’s Sale on Nov 16, 2011.
The information the broker collected was suspicious, wrong, and different, I realize now. Forced Hazard Insurance should been follow-up at enforcement. And I just do not understand the lesser amounts to reinstate the mortgage, it was confusing on the Foreclosure Notices and made it impossible to redeem, also difficult to sell.
Discussion: When my dream home was foreclosed on, my heart was broken. I try my best with circumstances beyond my control. I hope you would look into this matter. I still care for this home. I’m writing because the Office of the Comptroller of the Currency (OCC) recommends that I should attempt to resolve my complaint with FIFTH THIRD BANK first.
Without prejudice
Mr. Robert L. Tatge March 27, 2012
E-MAIL: robtat@peoplepc.com
Cc: Usset, Weingarden &Liebo, PLLP, Attn; Amy Van Zummeren @ FAX: 952-925-5879
Cc: Independent Foreclosure Review (occ), (Letter) PO BOX 2587, Fairbault, MN 55021-9981
Attn: Paul-Allen Bixler, Regulatory Support Specialist Office of the President: Fax 513-358-3493
Cc: Office of Minnesota Attorney General, Lori Swanson, Honorable: Bill Gosiger, File: 439011, FAX 651.282.2155
Cc: Jerome A. Ritter Attorney at Law, FAX: 651-222-1263
Pam bondi makes me want to puke!
Oh, Pammy. You gearing up to run for governor, girl?
Let’s not forget that LPS was a MAJOR contributor to Pam Bondi’s election campaign.
So it’s only been the “past few years,” Pammy, that Lender Processing Services has been doing their thing? Baloney. By its own admission LPS was a busy little bee as far back as 2001, and In re Fagan happened in 200SEVEN–not exactly a “few” years ago. Then there was In re Wilson, which got off the ground in 200EIGHT.
Lender Processing Services’ “work product” – fraudulent affidavits – have been called a “sham” and a “farce” by the US Bankruptcy Court of the Eastern District of Louisiana
http://www.scribd.com/doc/52867919/In-Re-Wilson-Memorandum-Opinion-07-Apr-2011 (start at bottom of page 18)
Pam Bondi took thousands of dollars in campaign contributions from Lender Processing Services, its affiliates/subsidiaries (Fidelity Financial, etc.), its in-house counsel (Holland & Knight) and members of its in-house counsel staff. At least one member of Lender Processing Services’ board is a former member of H&K – Todd Johnson.
Florida attorney general Bondi and Florida CFO Atwater’s ties to LPS and the title industry are very strong.
Contributions directly related to LPS:
Fidelity National Financial (Atwater, 3/1/07; Bondi, 10/18/2010)
Fidelity National Title Co. of California (Atwater, 3/1/07)
Fidelity National Title Insurance Co. (Atwater, 3/1/07)
Fidelity National Title Co. of NY (Atwater, 3/1/07)
Fidelity National Financial Inc. – FLA PAC (Bondi, 10/18/2010, 3/31/2010)
Fidelity Asset Management (Bondi, 6/23/2010)
First American Title Insurance Co. (Atwater, 11/19/07) now affiliated w/ Fidelity
National Title Insurance
Chicago Title Co. (Atwater, 3/1/07)
Chicago Title Insurance Co. (Atwater, 3/1/07)
Chicago Title & Trust (Bondi, 6/23/2010, 10/18/2010)
Alamo Title Holding Co. (Atwater, 3/1/07; Bondi, 10/18/2010)
Alamo Title Holding Co. (Bondi, 6/23/2010)
LSI Title Agency Inc., Irving, TX (Bondi, 10/18/2010)
Lender Processing Services (Bondi, 6/23/2010)
LPS Agency Sales & Posting (Bondi, 2010)
LPS-related contributors:
Jerome W. Jacquot – former Bondi staffer, now working for LPS, donated to Bondi’s campaign
Atwater: Title Industry of Florida PAC
Holland & Knight (LPS’ in-house counsel) donated to both Bondi and Atwater
*********************
LPS Default Title and Closing – offices in CA, NY, MI, AZ
For more information, visit http://www.lpsdefault.com
https://www.lpsasap.com/services.aspx
NY:
http://ny.lpsasap.com/
LPS – Agency Sales and Posting: foreclosure publication, posting and auctioneer services for attorneys and trustees.
https://www.lpsasap.com/company.aspx
Chicago Title Insurance Company, a subsidiary of Fidelity National Financial
601 Riverside Ave., Jacksonville,FL 32204
904-854-8997
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=974120
Alamo Title Holding Co. – Fidelity National Financial
http://biz.yahoo.com/e/110223/fnf10-k.html
LSI Title Agency Inc., listed as “Irving, Tx. in Bondi campaign contributors
http://www.lsi-lps.com/ContactUs.aspx
Atwater: Title Industry of Florida PAC
Other common Atwater/Bondi contributors:
Atwater: Brent W. Sembler
Bondi: Brent W. Sembler Family Trust, Brent W. Sembler, Melvin Sembler, Betty S. Sembler
Frankly, it seems as though the “Lender Processing Services” organization, recognizing the feeding at the foreclosure trough is coming to an end because of investigations into their robosigning of hundreds of thousands of fraudulent documents, has now created a network of companies who will take advantage of the sales of the foreclosed properties by organizing sales by banks and trustees to “preferred buyers.”
The only action to really help homeowners is legal council of their own choice that is paid by this settlement.
no, the money should be used to TRAIN lawyers how to deal with defense attorneys and judges taking ridiculous positions. I’m sick of seeing ill equiped lawyers making ridiculous decisions and not knowing the basics of trial practice. Other lawyers like myself who have 30 plus years doing battle are totally aghast at what we see–its bad enough the judges don’t do their job and are in bed with the banks, but the lawyers representing these homeowners are clueless as to what to do about it.
1. Highly concern when I was turned down twice on a refinance, by Countrywide. All at once Fifth Third Bank did the refinance. I believe Country-wide look at all the “QUESTIONABLE LOANS” and rush to remove them from their books anyway they could, using known brokers that could get this job done! Before the transfer to BANK OF AMERICA. I believe they blind-sided them also…. You see Fifth Third Bank started right away with appraisal imperiling, loan application, and my credit report approving. Then after approval Fifth Third Bank, start with Forced Placed insurance at $500 per month more on the payment, I had automatically take from my checking acct., this caused me to cash in my 401k plans just to cover, later to find out, I had insurance and Fifth Third Bank paid for it out of my escrow…Then Foreclosure with all attempts to refinance with them were refused.
They were the predator that worked with Countrywide in all these dealings, and ended up unharmed! I want my home back, free and clear with compensation, A.S.A.P.
without prejudice,
Robert Tatge
So one more settlement with millions and billions of dollars–but where does the money go? I have a totally broken cchain of title on my home. False assignments, false notarials, linda green phony robosigning, dox that were probably created based upon Krieger’s analysis of my files–i have been fighting three years BOA–MERS, etc. I have a judge who ignores the law and who has refused to allow any discovery whatsoeveer and I mean NONE!. That’s a first! I have never even had a hearing or a telephone call with this judge. He ignores all contact with me whatsoever. These settlements do not compensate the average person suing. They certainly do nothing to bring the judges to task who refuse to follow a 100 years of land law. They let titles remain broken and are doing nothing to fix those titles. I talk to dozens and dozens of persons who have thihs problem and I have yet to run into one person in three years who has gotten any discovery, had a reasonable judge who follows the law and is not making it up, or who has received one cent in settlement. Its disgusting and this is just another settlement that accomplishes nothing in my opinion. Its going to take lawyers who are hard nosed and hold the defendants to task and some AG somewhere out there who is going to do something and say something about the real problem: Judges who refuse to sanction the banks and their attorneys for their outrageous positions. And I leave you with my latest story., Wilshire Countrywide and BAC were all sued by me. Defendants all answered through counsel and have answered and filed answered continually for three years. Never alleged in any way that they did not exist. Now when they face discovery demands suddenly they file summary judgment. Do you know what they are claiming? They don’t exist! You mean to tell me they did not know they did not exist two years ago when they merged into BOA? Why now. Here’s something even worse. I agreed to dismiss them with prejudice from the lawsuit so as not to answer a bs piece of sj. (Im currently very ill with a chest infextion) I thought it would save time! Answer? O no. they don’t even answer this reasonable request. Why? Well either their lawyers want to bill more hours or they think the judge that rules everything in their favor will give them yet another decision they can use anyplace. Meanwhile, these same defendants continue to enter appearances and answer lawsuits all over the country. Bizarre!
Very good question Gwen! Where does all the money go? They say to the states, but the states weren’t losing their homes, the citizens were and are. Further, these processing servicers were just providing the service to banks that banks wanted. When are they going to really get spanked? I’m so sick and tired of banks committing so much fraud and never really being held responsible. Also, if these companies made at least $120M (I know that’s the settlement amount, not necessarily what they made), just think how much more the banks made on all these fraudulent foreclosures.