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Foreclosure Defense Florida


Remember my post from just a few short hours ago about how consumers should run back, like an abused spouse and believe one more time that the government was going to actually pretend to serve their interests?
Well, ONCE AGAIN, Consumers have been sold out in a massive screw job….otherwise known as a government sponsored sellout/settlement….
BEHOLD! This time it’s the OCC Review Sellout…
The surprising decision by regulators to scrap a massive and expensive foreclosure review program in favor of a $10 billion settlement with 14 banksreported by The New York Times Sunday night — came after a year of mounting concerns about the independence and effectiveness of the controversial program.
The program, known as the Independent Foreclosure Review, was supposed to give homeowners who believe that their bank made a mistake in handling their foreclosure an opportunity for a neutral third party to review the claim. It’s not clear what factors led banking regulators to abandon the program in favor of a settlement, but the final straw may have been a pending report by the Government Accountability Office, a nonpartisan investigative arm of Congress, which was investigating the review program.
Rep. Brad Miller, a North Carolina Democrat, told The Huffington Post that the report, which has not been released, was “critical” and that the Office of the Comptroller of the Currency, which administers the review, was aware of its findings. Miller said that that one problem the GAO was likely to highlight was an “unacceptably high” error rate of 11 percent in a sampling of bank loan files.



One Comment

  • Noreen Tuminski says:

    I have been following the “regulators” particularly the OCC, CFPB, and the GSE Freddie Mac. My “complaint” forms have been bounced from one agency to another. The term “complaint” does not carry jail sentencing. These are fraud investigations, that are termed “compaints”. I submitted 1.8 pounds of documentation (proof) to the Independent Foreclosure Review Board in August 2012. I received a letter from this agency that my info would be accepted for review. There is not enough money in the till to compensate a homeowner for Illegal Activity. My particular refinanced loan was allegedly sold to Wells Fargo after a closing on 2/20/2008. I called Freddie Mac, who confirmed that it was sold to them by Wells Fargo on numerous occasions.(taped phone conversations). It is the GSE that did not review the paperwork and bought a loan from an entity that did not own it. No assignment, sale, or transfer was ever made by a mortgage banker who originated this loan to Wells Fargo in 2008 or any other time for that matter. A settlement can not help any homeowner who has been harassed, thrown into foreclosure by a thief representing the Bank (law firm of Steven J. Baum), and dismissed when I demanded the original note. If the original note can not be produced, and I have the funds to pay my home in full, I will not receive a mortgage note that is stamped “Paid In Full” to be recorded at any county clerks office. My property remains in limbo forever. This is the harm to the homeowner. In the interim, credit scores are destroyed, lives are destroyed, opportunity for productive income is destroyed. This is the fraud that “servicers/banks” made the public aware of during the phony modification trials that created a severe default once the “servicers/banks” denied your trial. The OCC is not helping homeowners. They oversee the Independent Foreclosure Review process! My letter from the OCC advised me that because I submitted my info to the Independent Review Board, they would be closing my file. Bottom line: a loan was sold to the GSE. Wells Fargo received payment for something it did not own, and the GSE instructs the “servicers/banks” to collect anyway. You can not write down principals on loans that are not owned. It is the Government Sponsored Enterprise that did not do its job, and gave free money to the banks who didn’t even own the loans,nor were they assigned/transferred legally. This is criminal activity! I was a taxpayer for 30 years,and never looked for a free ride, but the GSE wants a free house to cover their sins.

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