Comments on: Amendments to Consent Orders Memorialize $9.3 Billion Foreclosure Agreement

By: usjustice4all

usjustice4all — Mon, 22 Apr 2013 21:52:18 +0000

“The amount includes $3.6 billion in cash payments ” It just really gets me so mad to see this. Most don’t even know this is the same amount the state of California allows for MISTAKES in their section 8 housing budget… A YEAR!!!

By: thegrey55

thegrey55 — Sun, 03 Mar 2013 20:58:39 +0000

Riddle me this: As of December 31, 2012 the total number of requests for the IFR program was somewhere around 500,000 homeowners or former homeowners. So in comes the OCC and scraps the IFR program saying that this new Amended program will benefit over 4 million homeowner and it will do it faster than previously possible under the original program.

Now, if as some have suggested the Banks are going to limit the payouts to $200 a head (which is highly likely, with the ocassional larger payment thrown in for good measure)then the Banks liability under the IFR program was somewhere around $10 million, plus or minus. However, under this new Amended Agreement, even at 2 or 3 hundred per homeowner, that liability is now in excess of $80 million. Found near the end of the Amendment to the original consent decree, which dates back to 2011 and includes the IFR agreement from 2012 there’s a small paragraph that mentions something about credits received by the Banks towards their total obligations under the agreement at a ratio of 7-10:1 for every dollar committed to the cash fund portion of the agreement.

This credit for the Banks could easily reach a Billion dollars and beyond with less than a $100 million of actual cash out of of pocket. And I remind you that the pocket it’s coming out of is yours and mine to begin with. It is sad but true that our government thinks us all so stupid that we can’t do the math.

Screwed again and again and again.

AFANG Americans For a New Government: The Constituional Right of the People to displace and remove our present form of government when that government, by its actions, has ceased to be a government of the People, by the People and for the People.

By: Linda

Linda — Sun, 03 Mar 2013 17:41:33 +0000

They got it wrong AGAIN. The government left it up to the banks to report who they defrauded. You will only be considered for the IFR or this revised settlement IF the bank identify you as one of the borrowers they defrauded. This my dilemma. I have the court documented proof that U.S. Bank, N.A. foreclosed on my home during the period in question, and my case qualified for remediation under the IFR Framework for Lack Standing to Foreclose. But I was denied remediation because U. S. Bank, N. A.. did not identify my mortgage as one they serviced. If that was the case, why did they foreclosure on my home and attempt to put my family on the street? Now they are perpetrating the old bait and switch move: Since the bank could not take my home, now they deny they serviced my loan to get out of a government demanded settlement. They are truly clever, and the government never get the rules quite right which should be IF YOUR PROPERTY WAS FORECLOSED ON DURING THE PERIOD IN QUESTION BY ANY OF THE BANKS IN THE AGREEMENT, SEND US YOUR DOCUMENTS TO BE REVIEWED FOR REMEDIATION BASED ON THE FRAMEWORK. It’s just that easy to be fair. But the banks remain greedy, and know how to get what they want– a reduction in liability both monetarily and in number of homeowners that have a legitimate claim based on the fact it’s up to the bank to report borrowers they defrauded.

By: Sharon Duncan

Sharon Duncan — Sat, 02 Mar 2013 15:04:23 +0000

What about all the people who had fraudulent foreclosures prior to 2009, and after 2010?

By: John No More Dough

John No More Dough — Sat, 02 Mar 2013 06:05:10 +0000

BTW…The SOLE purpose of putting together as many REMIC’s as possible was to sell them in the secondary market. Countrywide was only one lender the assisted the BANKSTERS! The peanut made from a broker was a peanut shell compared to the fees “made” when these REMIC’s were sold! (Real Estate Mortgage Investment Conduit) What a scheme, what a crime! Why aren’t any of these FRAUDSTERS doing time! They SHOULD do time in the pen! IMHO. First REFUND THE MONEY AND VOID THE NOTES! Then lock them up!

By: John No More Dough

John No More Dough — Sat, 02 Mar 2013 05:55:27 +0000

The market comparison approach is the ONLY method of appraising residential real estate. When the supply/demand scale was tipped in favor of sellers for almost a decade by defrauding the investors, ALL appraisals used were inflated by the fraud KNOWN by the BANKSTERS! Those 17 banks that FHFA has the pending litigation minimally should VOID EVERY NOTE. Will someone please tell me WHEN in the USA does a FRAUD CONTRACT become anything other than FRAUD? Has any accountants chimed in? There are 2 methods of accounting, cash & accrual. With the CASH method of accounting used by BANKS, when you have a monetary loss (as in the collapse of 2008) the loss was taken in 2008! So the “fraud” loans were written off as bad debt-in 2008! While the lenders continue to collect payments from borrowers, and modify the loans, and foreclose and evict, it is all a windfall profit for the banks, each and every one! Contractually the money was lent, based on inflated appraisals lead by the scheme devised by 17 lenders to defraud the “investors”. The notes for these loans should all be VOIDED and the money returned. That is the contractual correct legal ramifications of the FRAUD the banksters perpetuated! Collapsing the US economy was not enough, collapsing the World economy was not enough, a taxpayer bailout was not enough, they want windfall profits to continue for as long as possible, and don’t think they won’t commit FRAUD AGAIN to continue the scheme! Read the cases filed by FHFA, here is only 1 of the cases, please read the 9 CRIMINAL cause of actions:

http://www.fhfa.gov/webfiles/22595/fhfa%20v%20merrill%20lynch.pdf Please tell me again, when a contract begins as fraud, WHEN does it change into anything else? Why is the LOCAL governments allowing the banks to foreclose and evict based on FRAUD NOTES? I am sorry I do not understand how they are continuing to get away with this? FRAUD is FRAUD! Began as fraud, the notes are VOIDABLE, plain and simple! The payments made should be returned! WTF? Criminals running the show? Unbelievable!

By: Rodger

Rodger — Sat, 02 Mar 2013 02:38:49 +0000

In reply to flanow.

Settlements to get relief to homeowners now…. What a crock of Shizzz.. The Banks dont have legal standing on any of these properties. They will write 200.00 checks to everyone and offer principle reductions. Thereby making the Banks LOOK like they are helping homeowners by writing off millions on these reductions….They and Bondi are going to flaunt these numbers as successes but the reality is its all smoke and mirrors.

By: Mike

Mike — Sat, 02 Mar 2013 01:01:15 +0000

In reply to Steve. American Home Mortgage Servicing escape all this by blaming Wells Fargo and LPS. They took the bitch route and ratted out on LPS/DOCX and Wells Fargo.

By: Steve

Steve — Fri, 01 Mar 2013 20:42:55 +0000

Explain to me how American Home Mortgage Servicing Inc. manage to escape all this?

By: DC

DC — Fri, 01 Mar 2013 18:06:37 +0000

Impeach Obama,chuck the senate,fire congress.