WDYM: Chain of Title – The History Behind Wall Street’s Foreclosure Scandal
David Dayen, author of “Chain of Title,” discusses Wall Street’s foreclosure scandal with Bloomberg’s Joe Weisenthal on “What’d You Miss?”
~
WDYM: Chain of Title – The History Behind Wall Street’s Foreclosure Scandal
I would love to see ‘Chain of Title’ create an broad outcry and demand that Congress hold banks/lenders/servicers to the letter of the law in all states.
The greatest danger that justice will NOT be taken seriously is the same defense question that the interviewer in the video raises as ‘rationalization’ for the banks’ fraudulent and illegal actions! “Homeowners defaulted on their financial obligations, didn’t they?”
The only way to counter this fly-in-the-ointment defense is to attack the same rationalization of criminal acts with comparison to other crimes. Criminal actions, RICO or introducing forged documentation to justify a bank’s failure to abide by legal statutes is NEVER justification to flaunt or circumvent law to gain legal standing to confiscate property.
Recognizing that Florida victims brought bank fraud to light, they are commended for their tenacity in exposing truth. Unfortunately the overall U.S. population fails to grasp the significance or identify with what brought down the economy because they aren’t even on the same level of recognition. In our majority non-judicial states the process of buying or losing a home is cut and dried for trust deed/mortgage holders. They will never see a day in court to fight the lenders/MERS/processors or the mill attorneys assigned to automatically seize their home via trust deed assignment unless they can hire an attorney to fight for them. Even in the Florida cases only a few of those unfairly abused in the foreclosure process recognized fraud or challenged legality. In Tennessee most home buyers know nothing about the Trust Deeds they signed that removes their rights to challenge automatic foreclosure, despite banks’ actions to force write insurance, transfer to MERS, deny modification, etc. .
Please seize the active promotion of “Chain of Title” to compare legal concepts of justifying fraud by blaming the victims. It happens all the time, blaming victims for their faults or default. Humanize the victims with their heartbreaking stories!
Here is the question: Can any lawbreaker or perpetrator ‘buy’ his or her way out of criminal charges simply by paying money to a third party, not the victim, to avoid punishment for criminal actions?
Now take the concept one step further: WHAT DO YOU CALL THE BANKING INDUSTRY’S PAYOFF TO THE US GOVERNMENT THAT ALLOWS BANKERS TO WALK FREE OF ANY CRIMINAL CHARGES????
.
Regretfully I am unable to obtain any AUDIO from the video. Sure would love to hear it.
Bruce R Nelson
Banner Elk, NC
8283674610
On the one hand I put my trust in CFPB approx 2 years ago. CFPB sent me to Ocwen Ombudsman. Its now June 2016…not a red cent of my $300k equity has showed up in my wallet. This past March OCWEN OMBUDSMAN sent me a letter to the effect “opps, it seems we have lost your records from 2 yrs ago” and now OCWEN RIPPOF tells me its my duty to find or replace the r3ecords they lost. Kind of like how they “lost” all those TIULA required NOTES and MORTGAGES. I know, my files slipped behind their copy machine ant its on the floor with a gazillion NOTE and MORTGAGES:-(