tag:blogger.com,1999:blog-14007337.post7039191437403514903..comments2023-10-25T06:36:25.124-07:00Comments on Mortgage Fraud: Impossible 2-20-11Whistleblowerhttp://www.blogger.com/profile/13144659621472624683noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-14007337.post-55107297713241533682011-04-14T10:28:01.956-07:002011-04-14T10:28:01.956-07:00cunt in youd...
The enforcement actions require ...cunt in youd...<br /><br /><br />The enforcement actions require the servicers to promptly correct deficiencies in residential mortgage loan servicing and foreclosure practices that examiners identified in reviews conducted during the fourth quarter of 2010. The actions require the servicers to make significant improvements in practices for residential mortgage loan servicing and foreclosure processing, including communications with borrowers and dual-tracking, which occurs when servicers continue to pursue foreclosure during the loan modification process. The enforcement actions require the servicers to ensure that foreclosures are not pursued once a mortgage has been approved for modification and to establish a single point of contact for borrowers throughout the loan modification and foreclosure processes. In addition, the actions require servicers to establish robust oversight and controls pertaining to their third-party vendors, including outside legal counsel, that provide default management or foreclosure services. <br /><br />The OCC's actions also require each servicer to engage an independent firm to conduct a multi-faceted review of foreclosure actions between January 1, 2009, and December 31, 2010. This requirement includes a comprehensive "look back" to assess whether foreclosures complied with federal and state laws, whether foreclosures occurred when grounds for foreclosure were not present, such as when loans were performing, and whether any errors, misrepresentations or other deficiencies resulted in financial injury to borrowers. The actions also require each servicer to establish a process for borrowers who believe they have been financially harmed by such deficiencies to make submissions to be considered for remediation. Each servicer must also submit a plan to remediate all financial injury to borrowers caused by any errors, misrepresentations, or other deficiencies identified in the independent consultant's findings. <br /><br />The OCC based its enforcement actions on the findings of examinations conducted as part of the interagency horizontal reviews undertaken by the federal banking regulators in the fourth quarter of 2010. Examinations of these eight national bank servicers identified significant weaknesses in mortgage servicing and foreclosure governance that resulted in unsafe and unsound practices. The scope and degree of these practices differed among the servicers; however, based on the sample of files reviewed by OCC examiners, borrowers in the sample were seriously delinquent at the time of foreclosures and servicers held the notes and documents required to foreclose. A summary of the findings of the interagency reviews is available in the Interagency Review of Foreclosure Policies and Practices, which was produced by the OCC, the Board of Governors of the Federal Reserve System, and the Office of Thrift Supervision. <br /><br />No telling if anyone will get a home back on this, but the possibility is out there since there is a solid argument being made in regional court actions that without wet signature documents and proper registration, the banks might not really hold claims they thought... so watch this one carefully...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14007337.post-91915265674416347682011-04-14T10:27:32.219-07:002011-04-14T10:27:32.219-07:00Big Story of the Day
Sorry, I forgot to put this ...Big Story of the Day<br /><br />Sorry, I forgot to put this one in earlier today - the government has announced a big move on mortgage servicing companies and here's the press release from the Office of the Comptroller of the Currency - my highlights added:<br /><br />The Office of the Comptroller of the Currency today announced formal enforcement actions against eight national bank mortgage servicers and two third-party servicer providers for unsafe and unsound practices related to residential mortgage loan servicing and foreclosure processing. <br /><br />The eight servicers are Bank of America, Citibank, HSBC, JPMorgan Chase, MetLife Bank, PNC, U.S. Bank, and Wells Fargo. The two service providers are Lender Processing Services (LPS) and its subsidiaries DocX, LLC, and LPD Default Solutions, Inc.; and MERSCORP and its wholly owned subsidiary, Mortgage Electronic Registration Systems, Inc. (MERS). <br /><br />"These comprehensive enforcement actions, coordinated among the federal banking regulators, require major reforms in mortgage servicing operations," said acting Comptroller of the Currency John Walsh. "These reforms will not only fix the problems we found in foreclosure processing, but will also correct failures in governance and the loan modification process and address financial harm to borrowers. Our enforcement actions are intended to fix what is broken, identify and compensate borrowers who suffered financial harm, and ensure a fair and orderly mortgage servicing process going forward."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-14007337.post-42060282299337808492011-04-13T05:05:25.133-07:002011-04-13T05:05:25.133-07:00"If the USA were a corporation," Gross c..."If the USA were a corporation," Gross concludes, "then it would probably have a negative net worth of $35-$40 trillion once our 'assets' were properly accounted for, as pointed out by Mary Meeker and endorsed by luminaries such as Paul Volcker and Michael Bloomberg in a recent piece titled 'USA Inc.' However approximate and subjective that number is, no lender would lend to such a corporation. Because if that company had a printing press much like the US with an official 'reserve currency' seal of approval affixed to every dollar bill, that lender/saver would have to know that the only way out of the dilemma, absent very large entitlement cuts, is to default in one (or a combination) of four ways: 1) outright via contractual abrogation - surely unthinkable, 2) surreptitiously via accelerating and unexpectedly higher inflation - likely but not significant in its impact, 3) deceptively via a declining dollar- currently taking place right in front of our noses, and 4) stealthily via policy rates and Treasury yields far below historical levels - paying savers less on their money and hoping they won't complain."mogel007https://www.blogger.com/profile/14478021516988349417noreply@blogger.comtag:blogger.com,1999:blog-14007337.post-54386987400766000672011-04-12T07:16:48.306-07:002011-04-12T07:16:48.306-07:00Accounts Receivable Tax
...Accounts Receivable Tax<br /> Building Permit Tax<br /> CDL license Tax<br /> Cigarette Tax<br /> Corporate Income Tax<br /> Dog License Tax<br /> Excise Taxes<br /> Federal Income Tax<br /> Federal Unemployment Tax (FUTA)<br /> Fishing License Tax<br /> Food License Tax<br /> Fuel Permit Tax<br /> Gasoline Tax (currently 44.75 cents per<br />gallon)<br /> Gross Receipts Tax<br /> Hunting License Tax<br /> Inheritance Tax<br /> Inventory Tax<br /> IRS Interest Charges IRS Penalties (tax on top<br />of tax)<br /> Liquor Tax<br /> Luxury Taxes<br /> Marriage License Tax<br /> Medicare Tax<br /> Personal Property Tax<br /> Property Tax<br /> Real Estate Tax<br /> Service Charge Tax<br /> Social Security Tax<br /> Road Usage Tax<br /> Recreational Vehicle Tax<br /> Sales Tax<br /> School Tax<br /> State Income Tax<br /> State Unemployment Tax (SUTA)<br /> Telephone Federal Excise Tax<br /> Telephone Federal Universal Service Fee Tax<br /> Telephone Federal, State and Local Surcharge<br />Taxes<br /> Telephone Minimum Usage Surcharge Tax<br /> Telephone Recurring and Nonrecurring Charges<br />Tax<br /> Telephone State and Local Tax<br /> Telephone Usage Charge Tax<br /> Utility Taxes<br /> Vehicle License Registration Tax<br /> Vehicle Sales Tax<br /> Watercraft Registration Tax<br /> Well Permit Tax<br /> Workers Compensation Tax<br /><br /><br />STILL THINK THIS IS FUNNY?<br />Not one of these taxes existed 100 years ago, & our nation was the most<br />prosperous in the world.<br />We had absolutely no national debt, had the largest middle class in the<br />world, and Mom stayed home to raise the kids.<br /><br /> What in the heck happened? Can you spell 'politicians?'Josephhttps://www.blogger.com/profile/09920259640077224299noreply@blogger.comtag:blogger.com,1999:blog-14007337.post-46841762074937124922011-04-12T07:16:42.043-07:002011-04-12T07:16:42.043-07:00Tax his land,Tax his bed,
...Tax his land,Tax his bed,<br /> Tax his table,<br /> At which he's fed.<br /><br /> Tax his tractor,<br /> Tax his mule,<br /> Teach him taxes<br /> Are the rule.<br /><br /> Tax his work,<br /> Tax his pay,<br /> He works for<br /> peanuts anyway!<br /><br /> Tax his cow,<br /> Tax his goat,<br /> Tax his pants,<br /> Tax his coat.<br /><br /> Tax his ties,<br /> Tax his shirt,<br /> Tax his work,<br /> Tax his dirt.<br /><br /> Tax his tobacco,<br /> Tax his drink,<br /> Tax him if he<br /> Tries to think.<br /><br /> Tax his cigars,<br /> Tax his beers,<br /> If he cries<br /> Tax his tears.<br /><br /> Tax his car,<br /> Tax his gas,<br /> Find other ways<br /> To tax his ass.<br /><br /> Tax all he has<br /> Then let him know<br /> That you won't be done<br /> Till he has no dough.<br /><br /> When he screams and hollers;<br /> Then tax him some more,<br /> Tax him till<br /> He's good and sore.<br /><br /> Then tax his coffin,<br /> Tax his grave,<br /> Tax the sod in<br /> Which he's laid...<br /><br /> Put these words<br /> Upon his tomb,<br /> 'Taxes drove me<br /> to my doom...'<br /><br /> When he's gone,<br /> Do not relax,<br /> Its time to apply<br /> The inheritance tax.Josephhttps://www.blogger.com/profile/09920259640077224299noreply@blogger.com