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Feds Now Letting Big Banks Review Their Own Foreclosures For Errors
02-14-2013, 04:27 AM #1
Shadow Mrs. Buckwheat
Posts:12,777 Threads:1,182 Joined:Feb 2011
emo-daj.gif

Quote:To accelerate the payments, the comptroller’s office decided to cut out the middlemen, the consultants, from the reviews. In a conference call last week, the government outlined a plan to use the lenders instead, according to people with direct knowledge of the discussion. Banks will now have to assess each loan for potential errors, which will help determine the size of the payments to homeowners.

http://consumerist.com/2013/02/13/feds-n...or-errors/

So... the lender fraudulently foreclose on borrowers and the gov decides the lenders should be the ones to decide if they've committed fraud. No independant observation.

further:

Quote:The appeals court affirmed an earlier district court ruling that the bank had a "secured position" on a $312 million loan it gave to Sentinel, which turned out to have been secured by customer money.

Futures brokers are required to keep customers' funds in dedicated accounts to protect them from being used for anything other than client business.

However, Thursday's ruling suggests that brokerages can use customer funds to pay off other creditors, Sentinel trustee Fred Grede told Reuters.

http://www.reuters.com/article/2012/08/1...0T20120810

Could be we're seeing theft on a scale that makes Fascism look like a spare dick at a wedding.


02-14-2013, 02:43 PM #2
Octo Mother Superior
Posts:43,363 Threads:1,483 Joined:Feb 2011
Seems legit. İmage
02-14-2013, 05:38 PM #3
Shadow Mrs. Buckwheat
Posts:12,777 Threads:1,182 Joined:Feb 2011
chuckle.gif yeah.

The banks were foreclosing on houses that didn't even have a mortgage, thispretty much gives them carte blanche to take whatever they want, whether it's your house or your 401(k) with gov (if not approval) than compliance. Perhaps even complicity.
02-14-2013, 06:37 PM #4
JayRodney ⓐⓛⓘⓔⓝ
Posts:31,574 Threads:1,444 Joined:Feb 2011
Wonderful, that's how it all operates these days, fox guards henhouse. bored.gif

wonder.gif



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