May they all go south together.
MERS HAS A NEW OWNER … THE SAME BUNCH THAT OWNS THE NYSE!
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Wells Fargo banking unit probed for employee fraud: Report
“Workers in the bank’s wholesale unit added or changed personal information including birth dates, Social Security numbers and addresses for people associated with its business clients in 2017 and early 2018, according to The Wall Street Journal, which cited people familiar with the matter. At the time, the unit was pressed with regulatory deadlines, including one related to anti-money laundering controls.”
The Department of Justice is probing Wells Fargo’s wholesale banking unit for fraud in the wake of reports that employees adjusted corporate customers’ information on documents without their knowledge or consent, The Wall Street Journal reported Thursday.
Workers in the bank’s wholesale unit are said to have added or changed personal information including birth dates, Social Security numbers and addresses for people associated with its business clients in 2017 and early 2018. At the time, the unit was pressed with regulatory deadlines, including one related to anti-money laundering controls.
The DOJ is said to be investigating whether management influenced employee actions, people familiar with the matter told the Journal, looking to see whether there is a pattern of behavior when it comes to management pressure.
Boarding Process is a Legal Fiction
EXHIBIT A: “1. Plaintiff, Ditech Financial, LLC (“Ditech”), formerly Greentree Servicing LLC, appears to have willfully violated this Court’s order to produce training manuals. The training manual produced on November 16, 2017, now appears to show that Ditech’s standard business practice does not verify prior servicer’s records for accuracy before boarding loans.
2. The training manual produced appears to show that Ditech’s witness, Christopher Ogden (“Mr. Ogden”), gave false testimony in an effort to introduce the prior servicer’s records into evidence under false pretenses.
3. On June 28, 2017, Mr. Ogden appeared for deposition, gave evasive and incomplete answers, and refused to turn over training materials upon which he relied to give his testimony about the loan boarding process and the creation of business records to be submitted in
evidence at trial under the business records exception to the hearsay rule…”
How Does the Debt Get Transferred?
GUTTING THE UNDERBELLY OF THE BEAST – PART 8
Yes, we want justice. We also want President Trump and Congress to recognize the Wrongful Foreclosure War on Homeowners. We want the entire securitization/rehypothecation process thoroughly investigated, audited and recognized for what is is: unlawful premeditated securities transaction with no disclosure to homeowners and frankly, failure to provide full disclosure to investors.
MA Appellate Court Tells Chase They Can’t Sit on Two Chairs With One Ass
Great headline!
“Chase knows that the so-called underlying loans does NOT include ownership of the debts.” How about that!
Bank of America issues apology to Spring Hill family after account closure
Bank of America has issued an apology to Spring Hill resident Benjamin Atria Aguirre following the closure of his checking account amidst allegations of discrimination, saying that it was simply a case of “human error.”
Atria Aguirre noticed on August 29 that his checking account was inaccessible. He was not notified until August 31 that his checking account had been closed, and that a check with the remaining balance had been sent in the mail.
Atria Aguirre’s checking account was fully restored on September 4, however, as it was near the end of the month, the closure caused some difficulties in paying mortgage and bills. Bank of America has said they will cover any late fees Atria Aguirre incurred because of the account closure.
It wasn’t until a friend of Atria Aguirre forwarded him a news articlethat detailed reports of other Bank of America customers having their accounts closed…
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How to Deal with the “Free House” Bias
[UNREGULATED] DERIVATIVE COMPLAINT – Blackrock, Pimco Sue U.S. Bank Over Trustee Roles
By Sydney Sullivan
The main focus this week, Blackrock & PIMCO, et al v. U.S. BANK NATIONAL ASSOCIATION, was so powerful it deserves to be highlighted. As usual legal protocol, the Plaintiffs’ claims are accepted by the court to be true. For example, the next move for the Defendant might be to file a motion to dismiss, a court must accept all well-pleaded facts as true, viewing the facts in the light most favorable to the plaintiff.
WARNING: The contents of this complaint is likely to make certain foreclosure judges with hefty Plaintiff hedge funds preferred shares in their investment portfolios extremely nauseous.
Plaintiffs Blackrock & PIMCO and a multitude of subsidiaries, affiliates, associates, closely related and closely held companies for each sued U.S. BANK NATIONAL ASSOCIATION for BREACH OF CONTRACT; VIOLATION OF THE TRUST INDENTURE ACT OF 1939; BREACH OF FIDUCIARY DUTY; BREACH OF DUTY OF INDEPENDENCE; AND NEGLIGENCE. Continue reading
Sheila Bair Had a Plan to Make Banks Pay for Dishonest Dealing Causing the 2008 Crash
This Post was moved to the Garfield Blog.
“Sheila Bair (ex FDIC Chairwoman) has always understood. She was fired for understanding. It’s hard to understand that the TBTF banks were NOT speculating and never lost any money. Harder still to understand how they stole trillions of dollars from the US economy. And finally harder still to understand how “lenders” could cause a crash.
It’s really quite simple. Usually prices and values are within the same range. Fair market value has always been closely related to the ability of people to pay for housing — i.e., household income. Prices rise when demand becomes high OR, and this is the big one, when the big banks flood the market with money.”
