Illegal Bank Foreclosure Info Withheld
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Illegal Bank Foreclosure Info Withheld
Transparency on violations of federal and state law by mortgage servicing companies.
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Elizabeth Warren – Banking Committee Hearing – Illegal Foreclosures

Elizabeth Warren - Banking Committee Hearing - Illegal Foreclosures. You now have evidence in your files of illegal activity, I take it, for some of these banks. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.
Lois A Bolin, Ph.D.'s insight:

The review committee for the Federal Reserve has documentation of illegal practices by some banks.  Homewoners will be allowed to sue these banks but they need the documentation for their case. If the Congressional Oversight comittee cannot gain access to this evidence how can a homeowner gain access.

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While Wronged Homeowners Got $300 Apiece in Foreclosure Settlement ... - RollingStone.com (blog)

While Wronged Homeowners Got $300 Apiece in Foreclosure Settlement ... - RollingStone.com (blog) | Illegal Bank Foreclosure Info Withheld | Scoop.it
RollingStone.com (blog)
While Wronged Homeowners Got $300 Apiece in Foreclosure Settlement ...
RollingStone.com (blog)
Okay. So do you plan to give the families this information?
Lois A Bolin, Ph.D.'s insight:

Now it comes out that not only were these consultants not so independent, not only did they very likely skew the numbers seriously in favor of the banks, and not only were these few consultants paid over $2 billion (over 20 percent of the entire settlement amount) while the average homeowner only received $300 in the deal – in addition to all of that, it appears that federal regulators WILL NOT turn over the evidence of impropriety they discovered during these reviews to homeowners who may want to sue the banks.

 

In other words, the government not only ordered the banks to hire consultants who may have gamed the foreclosure settlement in favor of the banks, but the regulators themselves are hiding the information from the public in order to shield the banks from further lawsuits.

 

God Bless America...who?

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shelbylaneMD's curator insight, August 16, 2013 2:46 PM

Time to get into action.

CineversityTV's curator insight, August 19, 2013 10:22 AM

Rule 13 for fascism Rampant Cronyism and Corruption - Fascist regimes almost always are governed by groups of friends and associates who appoint each other to government positions and use governmental power and authority to protect their friends from accountability. It is not uncommon in fascist regimes for national resources and even treasures to be appropriated or even outright stolen by government leaders.

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Marshall Watson is Where? 7 years later, foreclosures still jam courts

Marshall Watson is Where?  7 years later, foreclosures still jam courts | Illegal Bank Foreclosure Info Withheld | Scoop.it
A somber crowd begins to assemble in the lobby shortly before 8:45 a.m., when sheriff's deputies slowly usher the gathering through a metal detector and into the downtown justice center.
Lois A Bolin, Ph.D.'s insight:

This past October, former Fort Lauderdale attorney and foreclosure mill chief Marshall Watson, who was suspended after pleading guilty to failing to supervise or train his employees, is seeking reinstatement.  In 2010, Watson was fine $2 million dollars from the Florida attorney general’s investigation that the firm, among other things, falsified evidence presented to courts in foreclosure cases.

 

Watson's law firm is still practicing under Choice Legal Group, PA.

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Senator Warren Questions Consultants On Illegal Foreclosures | The Big Picture

Senator Warren Questions Consultants On Illegal Foreclosures | The Big Picture | Illegal Bank Foreclosure Info Withheld | Scoop.it
COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS SUBCOMMITTEE ON FINANCIAL INSTITUTIONS AND CONSUMER PROTECTION met in OPEN SESSION to conduct a hearing (READ ENTIRE DIALOG - quite amazing RT Senator Warren Questions Consultants On Illegal Foreclosures...
Lois A Bolin, Ph.D.'s insight:

“Outsourcing Accountability? Examining the Role of Independent Consultants”  The  point of the Independent Foreclosure Review Board (IFRB) was to bring some justice to foreclosure families,  identify and hold accountable the wrongdoing of financial institutions that broke the law. The settlement is based on a 6.5 percent error rate, per the OCC.   These families will not receive further settlement. IFRB looked at 100,000 of the almost 4,000,000 cases. 

A one-page agreement affecting these families, lists all of the things that the banks did wrong by categorizing how many people fall into each category and how much money they would receive.     Unlawful Foreclosure Categories were:  Military service members protected by Federal law;  people current on their payments;  people who were performing all of the requirements under a modification. 

While the IFRB was paid to conduct this review, it was the banks who came up with the categories on the list -  a list the IFRB had not seen until they were ready to go before Congress.  They made no independent review of the categories as they noted as  they were not asked to do so.  The Independent Review Board understood that the banks were supposed to put this list together and the OCC was going to look at it.

It would seem that the banks, who broke the law, decided how many people lost their homes and  how many people would collect money in each of these categories. 

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shelbylaneMD's curator insight, August 16, 2013 2:47 PM

Read it and stay aware.