Federal Reserve. Banks Insist they are unfairly penalized for their fraud. Such a sociopathic response.

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ROBO-SIGNER LIST FOR AUGUST 1, 2012

Posted by on Aug 3, 2012 in Blog | 2,912 comments

Home » Blog » ROBO-SIGNER LIST FOR AUGUST 1, 2012

WASHINGTON – Nov. 1, 2011 – The Federal Reserve Board announced today that some borrowers who think lender robo-signing hurt them during foreclosure can complain directly to the Federal Reserve.

FOR DETAILS ON COMPENSATION, SEE http://takeyourhomeback.com/?p=1059
UPDATE- OCTOBER 12, 2011- Banks say they are being unfairly penalized because Robo Signing is basically a victimless crime; the vast majority of the people being foreclosed upon have been delinquent on their mortgages for a significant period of time

UPDATE – AUGUST 28, 2011- 

State and federal officials negotiating a settlement with the nation’s biggest banks over shoddy foreclosure practices are hung up on how they should deal with a Reston-based company that has acted as a proxy for financial firms throughout the country for more than a decade.
Some officials refer to the dilemma as the “MERS morass,” referring to Mortgage Electronic Registration Systems, whose vast but controversial registry contains roughly 65 million mortgages.
  During the housing boom, millions of homeowners got easy access to mortgages. Now, some mortgage lenders and government officials have taken action after discovering that many mortgage documents were mishandled.
 The pending multibillion-dollar settlement with banks centers on “robosigned” documents and court filings and other problems related to mortgage servicing that caused a national uproar last fall. Much of that flawed paperwork flowed through MERS.

State and federal officials negotiating a settlement with the nation’s biggest banks over shoddy foreclosure practices are hung up on how they should deal with a Reston-based company that has acted as a proxy for financial firms throughout the country for more than a decade.

Some officials refer to the dilemma as the “MERS morass,” referring to Mortgage Electronic Registration Systems, whose vast but controversial registry contains roughly 65 million mortgages.

 During the housing boom, millions of homeowners got easy access to mortgages. Now, some mortgage lenders and government officials have taken action after discovering that many mortgage documents were mishandled.

 A look at the leaders in Washington and beyond who are involved in the foreclosure mess.

The pending multibillion-dollar settlement with banks centers on “robosigned” documents and court filings and other problems related to mortgage servicing that caused a national uproar last fall. Much of that flawed paperwork flowed through MERS.

UPDATE – AUGUST 8, 2011

But now the New York Attorney General is saying the same thing. As Adam Levitin highlighted on Credit Slips, the Attorney General’s filing states:
“… The failure to properly transfer possession of complete mortgage files has hindered numerous foreclosure proceedings and resulted in fraudulent activities including, for example, “robo-signing.” These fraudulent activities have burdened borrowers as well as the courts with flawed foreclosure proceedings.”