IN 2015, SIX OF THE SEVEN LARGEST HAMP SERVICERS WRONGFULLY TERMINATED HOMEOWNERS OUT OF HAMP

SIGTARP QUARTERLY REPORT TO CONGRESS I JANUARY 27, 2016

SIGTARP’s concerns over servicer misconduct contributing to homeowner redefaults in HAMP have been borne out. Treasury’s findings in its on-site visits to the largest seven mortgage servicers in HAMP over the most recent four quarters show disturbing and what should be unacceptable results, as 6 of 7 of the mortgage servicers had wrongfully terminated homeowners who were in “good standing” out of HAMP.

These staggering findings clearly show that servicer misconduct is contributing to some homeowners falling out of HAMP. Homeowners were wrongly terminated from HAMP by their servicer despite making timely mortgage payments, putting them at risk of losing their home. These homeowners were forced out of HAMP through no fault of their own. Mortgage servicers did not give these homeowners a fair shot. As these instances were found through sampling, Treasury does not know how many other homeowners were also wrongfully forced out of HAMP. Continue reading

LOST: Looking for the Canons of Judicial Ethics

Judicial misconduct is a touchy subject.

judicial misconduct

But what else do you call it when judges violate their own canons and participate in unethical decisions that may create financial gains in their investment portfolios?

While this post deals with the failure of the judiciary to sua sponte recuse themselves when they know there is more than an appearance of impropriety, it also raises the question of what potential benefit they may received as a result of their decisions – and is that taken into consideration at any time during the case? Continue reading

ELIZABETH WARREN: “We need a strong cop on the beat to make sure no one steals your purse on Main Street or your pension on Wall Street.”

“Elizabeth Warren Calls on JP Morgan Chief to Resign from NY Federal Reserve Bank Board,” Reports Stopforeclosurefraud.com

  • Says Responsibility and Accountability Long Overdue
  • Architect of the Consumer Financial Protection Bureau
  • Warren Continues Challenging Wall Street Arrogance

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Wall Street reform also must address the powerful and secretive Federal Reserve

Sen. Bernie Sanders (I-Vt.), 03/28/11. (photo:  Getty Images)
Sen. Bernie Sanders (I-Vt.), 03/28/11. (photo: Getty Images)

Wall Street Protests: A Good Place to Start
By Sen. Bernie Sanders, The Boston Globe
07 October 11

he protest movement called Occupy Wall Street has struck a nerve. The demonstrators’ goals may be vague, but their grievances are very real. If our country is to break out of this horrendous recession and create the millions of jobs we desperately need, if we are going to create a financially-stable future, we must take a hard look at Wall Street and demand fundamental reforms. I hope the protesters provide the spark that ignites that process.

The truth is that millions of Americans Continue reading

Hats Off to Bernie and the Gang: First Federal Reserve Audit Reveals Trillions in Secret Bailouts

By Matthew Cardinale, Inter Press Service
29 August 11

he first-ever audit of the US Federal Reserve has revealed $16 trillion dollars in secret bank bailouts and has raised more questions about the quasi-private agency’s opaque operations.  “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else,” US Senator Bernie Sanders, an Independent from Vermont, said in a statement.

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