John O’Brien, Southern Essex County Register in Salem, Massachusetts has been leading the national effort to hold lenders accountable, and has refused to record robo-signed documents has invited the CEO’s of the nation’s largest banks and all of the state’s attorneys generals to come to the Salem Registry and view first-hand the damage that has been caused to thousands of Essex County homeowners’ chains of title.
” It’s like a tornado came through here,” said Register John O’Brien, referring to the financial havoc and damage done to property records at the Registry of Deeds.
” Following any disaster, the powers that be generally show up to assess the damage. That is what I would like these major lenders and the Attorneys General to do ““ sooner than later,” O’Brien said.
O’Brien believes that a sweetheart deal, in the form of a settlement to grant lenders immunity from prosecution, is in the works.
The settlement currently in negotiations with the banks is being led by Tom Miller, the Iowa attorney who is serving as lead negotiator for this travesty. As Yves Smith from Naked Capitalism put it, “”¦this deal is a suicide pact for the attorneys general in states that are suffering serious economic damage as a result of the foreclosure crisis.”
In addition, according to O’Brien, it would be a total sellout of the American property owner and their property rights.
” We still do not know the extent of the damage and just how much they have fleeced from taxpayers in lost recording fees, which in my opinion run into billions of dollars. These CEO’s have to step up and take full responsibility for what they have allowed to happen. They have played fast and loose with people’s property rights, and have corrupted the chains of title to hundreds of thousands of property owners across this country,” O’Brien says.
O’Brien goes on to say that the only way lenders and the AGs can fully appreciate the ramifications of the schemes (including the recording of fraudulent documents, which in some cases were used to take people’s homes illegally; the use of robo-signers; and the failure to record assignments) is to travel to Salem, sit across the table from him and review the documents. Only then, will they fully understand the extent of the damage that’s been caused.
” Hopefully,” O’Brien says, ” By viewing the thousands of fraudulent documents recorded in my Registry, they will begin to understand how serious this issue is and work with Registers of Deeds across this country to correct the wrongs that have been committed.”
” All I am looking for is justice for these homeowners. I have said all along, that they need to talk to Registers of Deeds. What better way, than to come to an actual Registry and see first-hand what I am talking about. It would be the responsible thing for them to do. We would be able to have an open and frank discussion which hopefully would lead to a solution. The last thing the American people need is to have this issue swept under the rug.”
Actually, the FIRST thing the banks need and want is to have this issue swept under the rug. In this case, my money is on the party with the greatest war chest and power – the BANKSTERS.
As pessimistic as I sound, we already have enough proof that politicians (and AGs) do not have the ability/audacity to stand up to banksters…and to do what’s right by the American people.
I work the front lines helping regular people try to avoid foreclosure. What’s right – even what’s legal – doesn’t always happen to the little guy who simply doesn’t have to money to pay for the kind of legal help needed to fight the banks’ wrongdoing.
Fortunately, we have public officials (including John O’Brien, Southern Essex County Register of Salem, Massachusetts)who have been and are leading the national effort to hold lenders accountable.
Question is, to what extent can guys like John O’Brien hold lenders accountable?
Mike
Why aren’t the AGs sending investigators to every Register of Deeds Office? Do they not want to know the scope of the problem? What will the proposed settlement do about the broken chains of title? It would take legislative and executive action (change of law) to correct those defects. The settlement cannot address that problem. What is most disturbing about the AG settlement proposal and the Consent Decrees from the OCC, FDIC and Federal Reserve is that no investigation has been done. Bravo, John O’Brien.
I agree…the registers are very important…they need to find their voice….
John O’Brien. you are a good man. I have much respect for you in taking up this tremendous task on our behalf. I would like to thank him personally,and I will! Im on my way down to Salem soon. I am an Essex county citizen,and you, are a REAL AMERICAN!
Mr O’Brien can put away the cookies and milk, no one will respond to his invite. He can and should do what he can within the authority of his office, to correct the situation. Attorneys of conscience in his state who are knowledgeable should advise him as to the extent of his ability to enforce compliance of the law.
He is a brave man, who reminds me of Gary Cooper in High Noon. Refused assistance by his states AG, who is supposed to back him up, knowing that it is political suicide to oppose and expose the banks, he fights on.
I LIVE IN A SMALL COUNTY IN MISSOURI IT IS PHELPS .I STARTED GOING THROUGH THE DEEDS IN OUR COUNTY AND FOUND FLAWS IN ALMOST EVERYONE OF THEM. SO IT IS ALSO HAPPENNING WITH THE LOCAL BANKS ALSO. THE BANKERS SHOULD ALL BE BROUGHT UP ON CHARGES AND THROWN IN LEAVENWORTH PRISON OR SEND THEM DOWN TO OUR CUBA BASE.NO MORE FREE RIDE BEFORE THE TAXPAYERS OF THIS COUNTRY REVOLT.TO TAKE OUR COUNTRY BACK FROM ALL THE FRAUD.
go meet with your local and regional press…keep working the reporters until you find someone who will listen….meet with your county recorder, sheriff…good work..keep it up.
Thank God for men like Mr. O’brian. We’d be in a totally different boat if all county registers took the right stand on this. You ARE a good man Mr. O’Brian. Thank You Sir.