60 MINUTES SUNDAY NIGHT

Christina Conrad August 9, 2011 at 9:23am

It makes you wonder if there is someway to use this a leverage on getting f/c postponed...the attorney I work for is checking into all of this....like I said before...I smell a massive class action lawsuit coming on...

Garrett McCargar said:

This video backs the argument we use to fight the fraud on the bank's side. Our securitization audit, in contrast to a forensic audit which finds flaws on the front-end broker side, finds discrepancies and fraud on the back-end side with respect to securitization of the loan.

Due to the banks selling the loans on the secondary market as securities making their money up to11 times fold, they skipped the more tedious steps and used MERS or robo-signing to do the work in a faster manner. Once the loan is sold between investors, lenders and servicing companies alike, the note and deed become separated and therefore there is no true ownership on thousands if not millions of mortgage loans.

Based on the finding of indirect ownership they have no authority to foreclose and sometimes had no authority to even accept payments from day 1. With that, we can submit the clients modification request to the legal department and have a much higher success rate for modifying the terms of the loan because the banks do not want to take a chance of having to fight the allegations in a litigation case where the outcome may possibly be free and clear title of the property.

THIS STUFF IS NO JOKING MATTER

Christina Conrad August 9, 2011 at 9:11am

omg..you are too funny!!

Richard said:

I agree Christina!! Hopefully, they'll get their justice. It's funny what you said about the preacher............I had a similar experience that I'll share with you sometime. But, you're right! Aand, about the forgers and notaries admitting on the felonies they've committed on national television, I wise man once said:

"Life is tough, but its even tougher if you're stupid"

Christina said:

Sounds good Richard....Hopefully the FBI is just letting them dig a hole bigger and bigger, for all we know the investigation is ongoing...I have to have some hope in that....it is really disgusting what we do to people all over money...not to get religious on everyone, but a long time ago I heard a preacher say, "You have heard the old saying, money is the root of all evil." The preacher said, "I don't believe that to be true. The lust of money is the root of all evil." I have always remembered that statement and believe it to be true.

Richard August 9, 2011 at 8:36am

I agree Christina!! Hopefully, they'll get their justice. It's funny what you said about the preacher............I had a similar experience that I'll share with you sometime. But, you're right! Aand, about the forgers and notaries admitting on the felonies they've committed on national television, I wise man once said:

"Life is tough, but its even tougher if you're stupid"

Christina said:

Sounds good Richard....Hopefully the FBI is just letting them dig a hole bigger and bigger, for all we know the investigation is ongoing...I have to have some hope in that....it is really disgusting what we do to people all over money...not to get religious on everyone, but a long time ago I heard a preacher say, "You have heard the old saying, money is the root of all evil." The preacher said, "I don't believe that to be true. The lust of money is the root of all evil." I have always remembered that statement and believe it to be true.

Christina Conrad August 9, 2011 at 8:05am

Sounds good Richard....Hopefully the FBI is just letting them dig a hole bigger and bigger, for all we know the investigation is ongoing...I have to have some hope in that....it is really disgusting what we do to people all over money...not to get religious on everyone, but a long time ago I heard a preacher say, "You have heard the old saying, money is the root of all evil." The preacher said, "I don't believe that to be true. The lust of money is the root of all evil." I have always remembered that statement and believe it to be true.

Richard said:

Wowwww.............unbelievable!!! That is horrible, just absolutely horrible!!! If you or I forged a signture and stole from a bank, we'd be marched off to jail in handcuffs and orange clothes, but when it comes to the banks and Wall Street...........well, they walk away with a hand slap and bundle of money in their pockets.

Setting up a fund for the homeowners should be charged to the banks. If not, it is only going to cost the good taxpayers more money. Make the banks pay. Of course when that happen, we'll get hit with all sorts of fees. From what I saw, maybe I'd just locked the banks and forgers in the same arena with the foreclosed homeowners for a long weekend..........what harm could it do? :)

Richard August 9, 2011 at 7:50am

Wowwww.............unbelievable!!! That is horrible, just absolutely horrible!!! If you or I forged a signture and stole from a bank, we'd be marched off to jail in handcuffs and orange clothes, but when it comes to the banks and Wall Street...........well, they walk away with a hand slap and bundle of money in their pockets.

Setting up a fund for the homeowners should be charged to the banks. If not, it is only going to cost the good taxpayers more money. Make the banks pay. Of course when that happen, we'll get hit with all sorts of fees. From what I saw, maybe I'd just locked the banks and forgers in the same arena with the foreclosed homeowners for a long weekend..........what harm could it do? :)

Christina Conrad August 9, 2011 at 5:43am

Thom Colby Newport Beach CA said:

http://www.cbsnews.com/video/watch/?id=7375936n

This is a corrected link - it needs an "s" at the end of cbsnews.

thanks

Thom Colby CA Brkr 888-391-5245 August 9, 2011 at 5:43am

I makes me wonder if they got a "deal" for spilling their guts to the Feds

Jeff Payne said:

I am not sure why the feds are not arresting these people for fraud. The admitted on TV that they were doing this

Christina Conrad August 9, 2011 at 5:43am

lol..It just goes to show you how stupid these people were that they interviewed....if they had legal counsel...their attorney would never have agreed to let them admit to forgery on 60 minutes...

Thom Colby Newport Beach CA said:

I agree - I'm also a Notary in CA and I cannot believe she was so cavalier about it. Her E&O and Bond Carrier are going to have a field day with her.........

Christina Conrad said:
I had to laugh when these employees of DOCS was claiming they had no idea they were doing anything illegal..really...wow..I don't think so...you are asked to sign someone elses name to a document..hmmm..red flags should have been going off..and that notary she is going to be in a world of trouble notarizing documents when it wasn't even the right person...she can play dumb..but every notary knows that is a major NO NO...these people don't even realize how many lives they destroyed..they were laughing about what they did during interview...I was very disgusted.

Thom Colby Newport Beach CA said:
Christina -

I saw it and it was an excellent explanation of why everything is the way it is !

Thanks !

Thom Colby CA Brkr 888-391-5245 August 9, 2011 at 5:42am

I think that was Sheila Bair the former FDIC Chairperson.

Christina Conrad August 9, 2011 at 5:41am

The other thing is..you know the banks had to have known...they are getting a document back with Linda Green's name on it as the VP of their bank and she isn't even the VP...hello...are you really going to tell me no one at the bank picked up on that little red flag....hmmmm

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60 MINUTES SUNDAY NIGHT

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