Archive For February, 2012
TweetShareUpdate: My original headline said “Sold Out” where it now says failed. I think it’s more accurate. Dear State Attorneys General: Rumor has it that this week we will learn precisely how you failed us all regarding the criminal enterprise that is mortgage servicing and foreclosure in America. That is, rumor has it that more [...]
TweetShareDear FHFA Acting Director Edward DeMarco: According to this HousingWire story by Jacob Gaffney, Bank of America is defying your authority and trying to bully you out of defending taxpayers. See, BofA doesn’t want you to force it to hurry up and pay American taxpayers back for all the crappy mortgages it sold Fannie, as [...]
TweetShareUPDATED below with examples of Wells Fargo as servicer charging fees for nonexistent loans. Well DOERs, John Stumpf, CEO of Wells Fargo, is a schmuck. CEO Stumpf knew (because DOERs told him) that the only reason grandma Patricia Martin faced foreclosure was because a Wells Fargo employee–Stumpf’s employee–lied to her daughter about late fees, and [...]
TweetShareU.S. Housing Secretary Shaun Donovan is playing Julie the Cruise Director on the Titanic, telling everyone ‘Don’t worry, there’s no icebergs in these waters. Really, if you see any floating ice in front of us, it’s not the visible tenth of a catastrophe to come.’ Unfortunately ice is visible, it is an iceberg, and the leading [...]
TweetShareI’m beginning to think that the last couple of days were April 1st in disguise. I mean, what a crazy practical joke our Federal Government and State AGs just tried to play! What a parade of press conferences, all touting a deal to trade some $25 billion in mostly more accurate accounting for some kind [...]
TweetShareThe sweetheart deal the feds just finished forcing down the throat of the state AGs is only the latest piece of evidence–evidence enough to reach ‘beyond a reasonable doubt’–that your federal government works for the banks and not you. Team Obama has placed the economic interests of the banks and the freedom of bankers above [...]
TweetShareFixing the housing market requires bold, transformational measures. Nothing like that has been put on the table on the federal level, including the latest bank-friendly “settlement.” However a new Arizona bill by Republican State Senator Michele Reagan represents precisely the kind of policy that is needed, which is great for Arizonans considering how damaged its housing [...]
TweetShareIt’s incredibly important that you–voters–understand that you are being lied to right now by your Federal Government and Team Obama. Today a still secret deal will be announced and signed by the Bailed-Out Banks (B.O.B.s), our Federal Government, and an unknown but probably tragically high number of states attorneys general. You’ll hear this deal called [...]
TweetShare It’s incredibly important that you–voters–understand that you are being lied to right now by your Federal Government and Team Obama. Tomorrow a still secret deal will be announced and signed by the Bailed-Out Banks (B.O.B.s), our Federal Government, and an unknown but probably tragically high number of states attorneys general. You’ll hear this deal [...]
TweetShareA shocking aspect of the proposed foreclosure fraud settlement among Bailed-Out Banks, the state attorneys general, and the Feds has rightly gotten a lot of attention, namely the Bailed-Out Banks’ ability to use other people’s money to pay their “penalty.” I confess, when I first heard about it, I figured it was a testament to the federal [...]
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