The Market Ticker – Where’s The Restitution?

All those who were dispossessed of their homes….. when do they get them back?

GRAND RAPIDS — The former president of a mortgage document processing company has pleaded guilty to a racketeering charge in Michigan.

The state attorney general’s office says Lorraine Brown pleaded guilty Monday in a Kent County circuit courtroom. She faces up to 20 years in prison when sentenced on May 2.

The state says that the 51-year-old Brown orchestrated a robo-signing scheme in which employees fraudulently signed another authorized person’s name on mortgage documents to expedite foreclosures.

So about all those titles that were fraudulently transferred away from the owners of the homes, and the subsequent resales by banks which are factually void as you cannot convey that which you never had lawful possession of.

We’re going to see that addressed….. exactly when?

Why do I know this is going to be crickets, despite the fact that now we have a criminal racketeering guilty plea on the table?

The reason for that, of course, is simple — if the banks had to unwind these transactions and cover the damages of everyone harmed by them they would collapse instantly.

Therefore it won’t be done, even though this individual and the firm undertook this at those institutions’ behest!

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