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Permalink Reply by Thom Colby CA Brkr 888-391-5245 on 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

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Permalink Reply by Christina Conrad on 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

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Permalink Reply by Richard on 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? :)

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Permalink Reply by Christina Conrad on 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? :)

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Permalink Reply by Richard on 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.

 

 

 

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Permalink Reply by Christina Conrad on 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.

 

 

 

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Permalink Reply by Christina Conrad on 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

 

 

 

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