Posts Tagged ‘mortgage settlement’
Posted by Larry Doyle on May 10th, 2012 5:32 AM |
A little over a year ago I became aware of robo-signing within the mortgage servicing industry and broached the topic that the activity likely rose to a level of racketeering. I aggressively questioned, Did Wall Street Violate the Racketeering Act?
Believing that the activity did likely rise to a level of racketeering, I recommended that attorneys general should pursue institutions involved in these fraudulent and abusive practices with a RICO action.
Well, it appears that somebody is now doing just that with specific focus on activities that transpired at Bank of America and MERS (Mortgage Electronic Registration System). (more…)
Tags: Angelo Mozilo, Dave Angle Missouri Attorney general, did Wall Street violate RICO Act, did Wall Street violate the racketeering act, Dirma Rodriguez, Eric Holder, how to define racketeering, illegal foreclosures, Larry Anderson, Louise Davidson of Loma Colorado, Mark Malone New Jersey prosecutor, MERS, mortgage electronic registration system, mortgage fraud, mortgage settlement, racketeering charges against BofA and MERS, racketeering on Wall Street, RICO Act, RICO violation on Wall Street, robo-signing, robosigning, securities fraud, what is MERS
Posted in financial frauds, fraud, General, Mortgage Crisis, Mortgages | 1 Comment »
Posted by Larry Doyle on March 20th, 2012 1:06 PM |
The American system of justice used to be predicated on the fact that those who committed transgressions paid the penalty. Regrettably, that system of justice is now a distant memory in regard to the adjudication of certain massive and egregious financial practices.
Has it become all too overwhelming for you to keep up with the violation of contracts and moral hazards in America today? I implore you not to give up the fight as future generations are counting on us to stand up for real justice. I addressed the injustice last week in writing, Mortgage Settlement Defines Racketeering:
If the Wall Street mortgage settlement is supposed to define justice, then crime certainly does pay. (more…)
Tags: AMI, Association of Mortgage Investors press release March 12, does crime pay, investing in mortgages, is mortgage settlement fair, mortgage investors, mortgage settlement, racketeering on Wall Street, RICO violation on Wall Street, robo-signing, terms of Wall Street mortgage settlement, Wall Street mortgage business, Wall Street mortgage settlement, what is RICO
Posted in General, Moral Hazard, Mortgage Cram-Down, Mortgage Crisis, Mortgages | 1 Comment »
Posted by Larry Doyle on March 13th, 2012 5:51 AM |
If the Wall Street mortgage settlement is supposed to define justice, then crime certainly does pay.
Having asked repeatedly in 2011 whether Wall Street mortgage servicing practices qualified as a racket and thus the charges filed should have been addressed as a RICO violation, yesterday we received our answer.
By any measure of ‘sense on cents’, the evidence provided screams of a RICO violation. The verdict delivered? (more…)
Tags: Ally Financial mortgage servicing, Bank of America mortgage servicing, Citigroup mortgage servicing, crime on Wall Street, crime pays, false or fraudulent claims, FHA mortgage insurance, Foreclosure Pact Alleges a Pattern of Malfeasance, JP Morgan Chase mortgage servicing, MERS, mortgage abuses, mortgage servicing practices, mortgage servicing settlement, mortgage settlement, racketeering violation on Wall Street, RICO Act, robo-signing, unfair and deceptive practices, Wall Street justice, Wall Street mortgage settlement, Wells Fargo mortgage servicing
Posted in General, Mortgage Crisis, Mortgages, Wall Street | 9 Comments »
Posted by Larry Doyle on February 12th, 2012 5:34 PM |
In a nation now all too familiar with a “too big to fail” banking system, a heavily manipulated and high frequency dominated equity market, and an incestuous financial regulatory system, we should not be surprised with a mortgage settlement that does little more than ‘piss into the wind’.
Pardon my cynicism, but one does not need to look too deeply into the recently announced mortgage settlement to understand there is little in the way of meaningful justice embedded in this contrivance. (more…)
Tags: Ally Financial, American Banker, Bank of America, Citigroup, details of mortgage settlement, high frequency trading, JP Morgan Chase, justice within mortgage settlement, Missing Settlement Documents Raise Doubts About $25B Deal, mortgage abuse, Mortgage Crisis, mortgage fraud, mortgage servicers, mortgage settlement, Mortgages, piss into the wind, pissing into the wind, regulatory capture, RICO Act, robo-signing, the regulators work for us, too big to fail banking system, Wall Street conspiracy, Wall Street-Washington incest, Wells Fargo
Posted in General, Mortgage Cram-Down, Mortgage Crisis, Mortgages | 3 Comments »
Posted by Larry Doyle on June 29th, 2011 6:44 AM |
They must think we’re stupid.
News that Bank of America is poised to pay an $8.5 billion settlement in a claim by investors that the firm and a predecessor sold packages of loans/securities which did not meet standards and provide proper disclosures is a joke. Regrettably the joke is on us, that is, the citizens of this great land.
$8.5 billion may be a lot of money but what price warrants real justice? (more…)
Tags: BAC settlement, Bank of America settlement, Blackrock settlement with Bank of America, borrowing money from the Federal Reserve, Brian Moynihan, capital flight, failure to disclose, financial regulators, investor education and protection, justice denied, Met Life settlement with Bank of America, mortgage mess on Wall street, mortgage scam, mortgage settlement, need for accountability an dtransparency on Wall Street and in Washington, New york fed settlement with Bank of America, real justice is never bought, scam, they must think we're stupid, Wall Street-Washington incest, wealth redistribution into the financial system, wher eis the admission of fraud and guilt, who pays the Bank of America fine, why are trading volumes declining
Posted in General | 7 Comments »
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