GET OUT! Unfrickin’ real! Thank you Tim Geithner for the greasy wheels.
Bankers are getting their holiday bonuses again this year, to the tune of over 91 billion!!
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Monthly Archives: December 2013
CA Attorney General Kamala D. Harris Announces $2.1 Billion Mortgage Settlement with Ocwen
California – ya gotta be proud!
CA Attorney General Kamala D. Harris Announces $2.1 Billion Mortgage Settlement with Ocwen
California homeowners eligible to receive an estimated $268 million in first lien principal reductions and nearly $23 million in cash payments
Thursday, December 19, 2013
Contact: (415) 703-5837
SAN FRANCISCO – Attorney General Kamala D. Harris today announced a $2.1 billion multistate and federal settlement with Ocwen Financial Corporation and Ocwen Loan Servicing, LLC (Ocwen) over alleged mortgage servicing misconduct.
The settlement makes California homeowners eligible to receive up to $268 million in first lien principal reductions and nearly $23 million in cash payments to borrowers.
“This settlement will help homeowners who’ve been misled while trying to modify their Ocwen mortgages,” said Attorney General Harris, “But our work isn’t done. Too many California families are still coping with uncooperative banks and mortgage service providers. My office will continue to fight on their behalf.”
The settlement resolves…
View original post 63 more words
Stern Words for Wall Street’s Watchdogs, From a Judge
In the New York Times – By ADAM LIPTAK
Published: December 16, 2013
WASHINGTON — It used to be common for the federal government to prosecute prominent people responsible for debacles that rattled the financial system. Michael R. Milken, the junk bond artist, went to prison in 1991; Charles H. Keating Jr., the face of the savings-and-loan crisis, pleaded guilty to four counts of fraud in 1999; and it looks like Jeffrey K. Skilling, the former chief executive of Enron, will be in prison until 2017. Continue reading
“And the Fed’s trillions in interest rate risk is supported by only $55 billion of capital; their capital is just 1.4% of assets. They have debt (leverage) that is about 70 times their capital!” Mike Perry
Thank you Mike for the insight. “They have debt (leverage) that is about 70 times their capital!” deserves to be said over and over.
NY Judge: MERS is ILLEGAL
Little did that Judge know then what we know now!! You can only imagine how illegal he would view the MERS Blur.
BUSTED: Trustee Caught Building Endorsements!
Re-blogged from MSFraud.org
This is Alaska Trustee, L.L.C., OneWest Bank, Deutsche Bank and Lender Processing Services conspiring to forge/fabricate the endorsements on the Note.
This is actual correspondence obtained through discovery, submitted to the Court in a 60B motion, which was denied without a hearing at the trial court level. [Read more on MSFraud HERE]
Way to Go!!
Little to NO Sympathy for Big Banks – New York Times
By FLOYD NORRIS
It’s no fun to be a banker these days. It is not just the increased regulation. It’s the lack of trust.
“At what point does this stop?” asked Gary Lynch, the former director of enforcement for the Securities and Exchange Commission who has gone on to jobs with many leading Wall Street firms and is now global general counsel at Bank of America.
He was referring to the escalation in penalties being levied on banks, culminating in the $13 billion JPMorgan Chase was forced to pay for a series of transgressions. Continue reading
Criminal Action Is Expected for JPMorgan in Madoff Case
New York Times posted by JESSICA SILVER-GREENBERG AND BEN PROTESS
JPMorgan Chase and federal authorities are nearing settlements over the bank’s ties to Bernard L. Madoff, striking tentative deals that would involve roughly $2 billion in penalties and a rare criminal action. The government will use a sizable portion of the money to compensate Mr. Madoff’s victims.
The settlements, which are coming together on the anniversary of Mr. Madoff’s arrest at his Manhattan penthouse five years ago on Wednesday, would fault the bank for turning a blind eye to his huge Ponzi scheme, according to people briefed on the case who were not authorized to speak publicly. Continue reading
WELLS FARGO’S “NOTE ENDORSEMENT TEAM” DOCUMENTATION FORM – EXHIBIT
From the same people who brought you “pick-a-pay” …
Attached is an Exhibit that was submitted in a NY bankruptcy case for a trial which settled. In newer foreclosures, there are likely to be robo-redux endorsements fabricated per specs directed by procedures and processes set in place by the entities dealing with loan documentation failures and gaps. These entities direct the lawyers and the Loan Documentation or Note Endorsement units or teams. From what we know, these Note Endorsement teams are comprised of 4-6 people who stamp endorsements on notes whenever a lawyer/servicer/other entity sends / directs / opens a task requesting the team to take care of a note endorsement problem. My recollection is that some of the servicer settlements (like the protocols approved in NJ) may have provisions related to such fixing of exception riddled document trails.
Small Town Judge – Major Ethics Issues – Plots Against Homeowner with Bank’s Attorney
By Sydney Sullivan
Have you ever felt that the judge in your case was not treating you or your attorney fairly, especially when the facts of bankster fraud were clear? Or when you have shown the judge a fabricated assignment of mortgage and an obviously fake endorsement on your so-called note? When you walk into the courtroom does your stomach sink and you imagine you hear a faint theme from the wicked witch of the west in the Wizard of Oz?
In a small Kentucky county, a homeowner just like you encountered the unthinkable – proof that his judge was prejudice and even worse – the judge was assisting the opposing counsel for the bank in a plot against him.
Deadly Clear 