Mustang
Gold Member
I'm surprised that this issue hasn't gotten more press since it's currently being investigated by states attorneys general across the country. It's even happening to members of the military.
This issue is particularly heinous in my opinion because the banks are seeking broad immunity from lawsuits if found to be guilty. What else would that immunity accomplish other then to embolden more illegal activity in the future if the banks no that they can continue to get away with illegal acts again and again.
I'll tell you what. Why don't you commit a crime just to test the system. See if you can get immunity from prosecution or from lawsuits associated with your crime.
This issue is particularly heinous in my opinion because the banks are seeking broad immunity from lawsuits if found to be guilty. What else would that immunity accomplish other then to embolden more illegal activity in the future if the banks no that they can continue to get away with illegal acts again and again.
I'll tell you what. Why don't you commit a crime just to test the system. See if you can get immunity from prosecution or from lawsuits associated with your crime.
To foreclose on someone's home, an authorized bank employee must sign the foreclosure document, swearing that the facts in it are true. But that requires hiring people to review each case. To avoid that cost, they take an illegal shortcut by signing the name of someone who has not read the document and might not even exist.
In one Massachusetts county, for example, the signature of "Linda Green" has recently appeared on some 1,300 foreclosures. Curiously, her signature was written in many different styles, and she had many different titles. Also, there's no Linda Green presently working in the mortgage banking company involved. Meanwhile, state officials say that robo-signing is, once again, "an epidemic" all across the country.
It's a federal crime to do this, yet no bank or banker has even been charged. Until we put a CEO in jail, the banking barons will never learn their lesson.
America's Illegal Foreclosure Epidemic | Truthout
NEW YORK, Nov 30 (Reuters) - New York's attorney general is investigating potentially illegal home foreclosures on active-duty members of the U.S. military, according to a person familiar with the probe.
The investigation was sparked by data released earlier this month by the federal Office of the Controller of the Currency, which found thousands of cases of possibly illegal foreclosures, said this person, who did not want to be identified because the probe is not public.
The Servicemembers Civil Relief Act protects active-duty service members by postponing or suspending certain civil obligations for mortgage payments, pending trials and eviction from housing.
The probe is part of a broader investigation by the office of New York Attorney General Eric Schneiderman of major banks' mortgage operations, the person said.
Schneiderman has been a key opponent of a proposed settlement between major banks and a coalition of federal and state officials over claims of foreclosure abuses. Schneiderman has said he opposes a deal that gives banks broad immunity from lawsuits involving their mortgage practices.
Lauren Passalacqua, a spokeswoman for Schneiderman, declined to comment on the military foreclosure probe.
The investigation was reported earlier by the Financial Times.
NY probes foreclosures on military - source