Sad.
Despite all the bluster, attempted parliamentary maneuvering, and name-calling from the Democratic party, the Senate voted Monday evening to approve Steven Mnuchin to serve as the next Secretary of the Department of the Treasury.
As expected, the Senate approved Mnuchin in a partisan vote of 53-47, with one Democrat, Sen. Joe Manchin, D-West Virginia, splitting from his party and voting with the Republican majority.
The Immaculate Corruption which Treasury Secretary Geithner, under the Obama administration, protected.
Watch the video here: http://fullmeasure.news/news/cover-story/immaculate-corruption
Full Measure News is broadcast to 43 million households in 79 markets on 162 Sinclair Broadcast Group stations, including ABC, CBS, NBC, FOX, CW, MyTV, Univision and Telemundo affiliates and streams live Sunday mornings at 9:30 a.m. ET.
In some markets they are seen more than the cable news competition in that time slot, and by more viewers than CNN, MSNBC, and CBNC combined and equal or surpass the audience size of CBS’ “Face the Nation,” NBC’s “Meet the Press,” and ABC’s “This Week.” Theyexplore “untouchable topics in a fearless way,” from immigration, terrorism, government waste, national security and whistleblower reports on government and corporate abuse and misdeeds. It is hosted by Sharyl Attkisson, a five-time Emmy Award winner and recipient of the Edward R. Murrow award for investigative…
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With a HOA or AOA do homeowners have much “interest” in anything besides the sticks of the unit? Apparently, not. Depending on the state laws and knowing the ways the rehypothecation of the homeowners’ collateral works with the banks, it appears it would be prudent to always file a mortgage lien in the records office… some states, like Hawaii, are first come first served. It appears Banks don’t file mortgage assignments until the homeowner defaults because they are reusing the collateral and merely pledged the note to the securitized REMIC trust, until default.
A debtor held a note secured by a first priority deed of trust on property that was also subject to a super priority homeowner’s association lien securing delinquent assessments against the property. The HOA foreclosed its lien after the debtor filed bankruptcy. The issue for the bankruptcy court was whether the HOA violated the automatic stay, and thus whether the deed of trust was extinguished by the foreclosure.
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Expect a lot of this. $3.4 TRILLION of pension funds nationwide gambled away on Wall Street. Investigations need to be launched against finance directors, state & federal government legislators and former administrations and union leaders. Get to the bottom of why these investments were made. Pension funds must be invested in TRIPLE A and LIQUID investments – (non- traditional) mortgages (MBS) are not liquid unless forced into default… school loans (ARS) are certainly not a secure investment and credit cards (ABS) have a history of failure… and we know the TRIPLE A ratings were rigged. Oust the bad guys – including politicians that promoted the derivative investments.
See -Maryland $50 billion in unfunded state and local retirement benefits, study says: http://marylandreporter.com/2013/10/30/50-billion-in-unfunded-state-and-local-retirement-benefits-study-says/
See also: City pension officials spend nearly $100,000 on trips: http://www.baltimoresun.com/news/maryland/baltimore-city/bs-md-ci-pension-travel-20150318-story.html#page=1
Check you state’s pension fund disaster: http://www.pensiontsunami.com/public.php
Longtime educator gives an inside view of deplorable conditions and poor learning environment as city officials prepare to layoff nearly 1000 employees to address budget deficit crisis.
We must create a banking system that works for every American—not just Wall Street CEOs—and enact and strengthen reforms that will protect our economy from another massive collapse. Tulsi is a cosponsor of legislation such as the Return to Prudent Banking Act (H.R.381) and the 21st Century Glass-Steagall Act (H.R.3711) to help protect Americans from big banks’ roll of the financial dice. To help ensure the financial stability of our nation, Tulsi is continuing to fight against dangerous behavior on Wall Street where investors take big risks on the backs of American taxpayers. She has urged criminal investigations of Wall Street executives who take money from American taxpayers, such as what recently happened with Wells Fargo, the nation’s largest “too big to fail” bank.
Boy, is that slick…so, who did they hire outside of the company to create the forgeries…or was this the work of the GSEs? “We didn’t do it inside our company, your honor… forgot to mention “It was farmed out.”
TREASURY SECRETARY NOMINEE Steven Mnuchin lied in his written responses to the Senate Finance Committee, claiming that “OneWest Bank did not ‘robo-sign’ documents,” when ample evidence proves that they did.
Mnuchin ran OneWest Bank from 2009 to 2015 in a manner so ruthless to mortgage holders that he has been dubbed the “Foreclosure King” by his critics.
The robo-signing scandal involved mortgage companies having their employees falsely sign hundreds of affidavits per week attesting that they had reviewed and verified all the business records associated with a foreclosure — when in fact they never read through the material and just blindly signed off. Those records, in many cases, were prepared improperly, but the foreclosures went ahead anyway because of the fraudulent affidavits.
“Did OneWest ‘robo-sign’ documents relating to foreclosures and evictions?” Sen. Bob Casey, D-Penn., asked Mnuchin as a “question for the record”.
Mnuchin replied that “OneWest Bank did not…
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CREDIT SLIPS Email:
Not a moment too soon, Princeton University Press has just released Fraud: An American History from Barnum to Madoff by historian & Duke University Vice Provost Ed Balleisen. (Some readers might be familiar with his earlier book on bankruptcy in Antibellum America).
As I learned when reviewing an earlier draft, Fraud is meticulously researched and completely fascinating, with plenty of careful attention to law and regulatory structures. The book’s other virtues are well encapsulated by Kirkus:
“Balleisen casts a gimlet eye on the passing parade of hucksters and charlatans, peppering a narrative long on theory with juicy asides that build toward a comprehensive catalog of ‘Old Swindles in New Jargon’. . . . Ranging among the disciplines of history, economics, and psychology, Balleisen constructs a sturdy narrative of the many ways in which we have fallen prey to the swindler, and continue to do so, as well as of how American society and its institutions have tried to build protections against the con. But these protections eventually run up against accusations of violating ‘longstanding principles of due process,’ since the bigger the con, the more lawyers arrayed behind it.“—Kirkus Continue reading
Cutting mortgage insurance was Obama’s gift to the banks and insurance companies. Let’s face it, banks don’t make loans designed for 30 year ownership. The securitization process is designed to churn and burn. Until that is eliminated and/or Glass Steagall is reinstated insurance programs need to stay in place to protect taxpayers. We, the People bail out the defaults if there is no insurance in place and unfortunately the statistics in low income housing programs have the highest defaults. Think about it.
And yes, the FHA insurance will go up and will hurt low income and middle class homeowners…
The Department of Housing and Urban Development announced it suspended the reduction of Mortgage Insurance Premiums, effective immediately.
HUD sent out an announcement just an hour after President Trump was sworn in on Friday, stating that the cuts have been suspended indefinitely.
The letter, found here, stated that the FHA will issue a subsequent Mortgagee Letter at a later date should this policy change.
“FHA is committed to ensuring its mortgage insurance programs remains viable and effective in the long term for all parties involved, especially our taxpayers,” the letter stated. “As such, more analysis and research are deemed necessary to assess future adjustments while also considering potential market conditions in an ever-changing global economy that could impact our efforts.”
Right before leaving office, the Obama administration cut FHA mortgage insurance premiums, marking the…
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Had homeowners all been treated equal, missed payments, interest, fees and costs forgiven, home reappraised in 2009 and principal difference deducted from the original loan, give homeowners 2% loans over 27 years amortized over 40 years – more people would have stayed in their homes.
Treasury Pick Steve Mnuchin Denies It, But Victims Describe His Bank as a Foreclosure Machine
Treasury Secretary nominee Steve Mnuchin kicked off his confirmation hearing Thursday with a defiant opening statement, mostly defending his record as CEO of OneWest Bank. He cast himself as a tireless savior for homeowners after scooping up failed lender IndyMac. “It has been said that I ran a ‘foreclosure machine,’” he said. “I ran a loan modification machine.”
But in stark contrast to his fuzzy statistics about attempted loan modifications, the victims of OneWest’s foreclosure practices have been real and ubiquitous.
A TV advertising campaign that’s been running in Nevada, Arizona, and Iowa features Lisa Fraser, a widow who says OneWest “lied to us and took our home” of 25 years, right after her husband’s funeral.
And on Wednesday, four women appeared at a congressional forum organized by Sen. Elizabeth Warren, relaying their stories…
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Wonder if Tom Selick is keeping up with any of this? Somebody ought to clue him in, yeah?
Gov. Cuomo and state lawmakers are finally making reverse-mortgage foreclosure reform a priority this year — following continuing coverage of a crisis by The Post.
Last week, the governor announced plans to provide reverse-mortgage holders the right to a mandatory foreclosure settlement conference with their lender, overseen by the court, just as traditional mortgage borrowers have, and to update regulations to prevent reverse-mortgage foreclosures.
Deadly Clear 