Michigan sets parole for ‘Linda Green’ robo-signer

Livinglies's Weblog

http://www.detroitnews.com/story/business/2016/08/28/michigan-sets-parole-linda-green-robo-signer/89525028/

By Brian O’Conner

The only person jailed in connection with a foreclosure forgery scandal that swept through Michigan and the rest of the country after the collapse of the housing bubble spends her days confined to the Women’s Huron Valley Correctional Facility in Pittsfield Township.

But not for long.

Sentenced in May 2013 to serve up to 20 years on racketeering charges, Lorraine Brown, now 55, will be paroled sometime this week, according to the Michigan Department of Corrections, after serving her 40-month minimum sentence. Brown will then be transferred to federal custody to serve the remainder of a 58-month federal sentence after pleading guilty to a single charge of conspiracy to commit mail and wire fraud.

Brown’s scheme netted $60 million between 2003 and 2006 for the parent company DocX, her Georgia-based document processing firm that forged more than 1 million foreclosure documents used by banks and attorneys…

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There Are Real Reasons to Bring Back Glass-Steagall

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When both major parties endorsed restoring the Glass-Steagall Act in their campaign platforms last month, they reaffirmed the powerful hold that the Glass-Steagall principle of separating commercial and investment banking has on the public imagination.

Glass-Steagall has become politically popular for good reason. The public understands that reducing the size and (especially) the complexity of our major publicly supported banking institutions is crucial to a healthier financial system. Restoring some version of the Glass-Stegall firewall between commercial and investment banking is a direct and powerful means to that end. There’s also an understanding that the financial system was generally more stable during the 60 years in which Glass-Steagall was in force.

Unfortunately, much of the inside-the-beltway commentary on Glass-Steagall does not add depth and substance to the public debate and is often inappropriately dismissive and shallow. A number of respected experts on the banking system, such as Federal Deposit Insurance…

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The Script: Ocwen Lawyer Spoon-Fed Foreclosure Questions and Answers to Robo-Witnesses

I have yet to read a transcript where ANY bank witness has personally entered the homeowner information into the computer. With the unlimited access, both at the keyboard and behind the curtain, any information can and is many time corrupted and unaccountable. We know MERS was inaccurate and given a clear picture of the operation of a servicers’ platform – meaning depose the company IT manager or minion – you’ll find out how many breakdowns, changes and patches the systems encounter. Is the data accurate? Highly unlikely – and more likely to have experienced a few glitches over the years.

Livinglies's Weblog

Ocwen“My conclusion is that it’s pretty clear—from what she’s saying and the document that she attaches—that they’ve been doing what I’ve been saying they were doing all along: telling clients want to say. These are listed out for the attorneys to ask the witness, and the answers that the witness needs to give are right there. I find that to be extremely telling. It’s exactly what we thought was going on. When they talk about training of the witness, they’re teaching them what to say at trial, and it doesn’t matter whether it’s true or not.”

Editor’s Note: Head over to 4Closurefraud.com for the rest of this excellent expose on the coaching of Bank robo-witnesses.

Ocwen Lawyer Spoon-Fed Questions and Answers to Robo-Witnesses

Excerpted from @ The DBR

Note: The article from the DBR is about a year old…

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Problems with Lehman and Aurora

Moreover, the investors’ transactions were securities BEFORE any faux mortgage or note was executed. No disclosure was provided to the homeowner where his collateral was going or how it was being risked. Add rehypothecation to these transactions and we have a lethal dose of corruption sizzling in fraud.

Livinglies's Weblog

Lehman had nothing to do with the loan even at the beginning when the loan was funded, it acted as a conduit for investor funds that were being misappropriated, the loan was “sold” or “transferred” to a REMIC Trust, and the assets of Lehman were put into a bankruptcy estate as a matter of law.

THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.

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I keep receiving the same question from multiple sources about the loans “originated” by Lehman, MERS involvement, and Aurora. Here is my short answer:
 *

Yes it means that technically the mortgage and note went in two different directions. BUT in nearly all courts of law the Judge overlooks this problem despite clear law to the contrary in Florida Statutes adopting the UCC.

The stamped endorsement at closing indicates that the loan was pre-sold…

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FDCPA and FCCPA: Temperatures rising

The courts in the past, it appears, think that saving their pension funds is more important than saving homeowners or making good law.

Livinglies's Weblog

FDCPA and FCCPA (or similar state legislation) claims are getting traction across the country. Bank of America violated the federal Fair Debt Collection Practices Act (“FDCPA”) and the related Florida Consumer Collection Practices Act (“FCCPA”). (Doc. 26). The Goodin case is a fair representation of the experience of hundreds of thousands of homeowners who have tried to reconcile the numbers given to them by Bank of America and others.

In a carefully worded opinion from Federal District Court Judge Corrigan in Jacksonville, the Court laid out the right to damages under the FDCPA and FCCPA. The Court found that BOA acted with gross negligence because they continued their behavior long after being put on notice of a mistake on their part and awarded the 2 homeowners:

  • Statutory damages of $2,000
  • Actual damages for emotional distress of $100,000 ($50,000 per person)
  • Punitive damages of $100,000
  • Attorneys fees and costs

See http://www.leagle.com/decision/In%20FDCO%2020150623E16/GOODIN%20v.%20BANK%20OF%20AMERICA,%20N.A.

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When The Economy Crashes There Will Be A Reallocation Of Money Not A Reset!

An Interview and Email with Bix Weir – RoadtoRoota.com

Continue reading

Fintech: A financial technology that reinvents modern banking

Confiscate the software and destroy the patents.

Justice League

60 Minutes:

The following is a script from “Fintech” which aired on May 1, 2016, and was rebroadcast on Aug. 21, 2016. Lesley Stahl is the correspondent. Shachar Bar-On, producer.

One sector of our economy after the next is being disrupted by new apps and websites, like bookstores, travel agents, taxis, hotels. Tonight, we’re going to explore whether the banking industry is next on the list. As we first reported in May, thousands of startups are challenging many aspects of banking, the newcomers argue that this important sector is too set in its ways. It’s being called the financial technology — or fintech — revolution. We looked at the birth of one fintech company founded by two young fintechies who started not unlike the founders of Facebook and Microsoft.

…………………………………………………….

Patrick Collison: In a world where people can send a Facebook message or sort of upload an Instagram photo and…

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Bank linked to ‘Panapa Papers’ hit with $180M laundering fine

“The bank had lax controls and relied on untrained personnel, including a chief compliance officer who wasn’t familiar with anti-money-laundering rules.” Knew or should have known!

On top of that government employees that are not prepared properly – doesn’t that qualify for a Title 42 sec. 1983 lawsuit?

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New York’s top financial regulator slapped a “Panama Papers”-linked bank with a $180 million fine for anti-money laundering violations.

Mega Bank, a $103 billion Taiwanese bank with one New York office, ignored the risks associated with transactions involving Panama, a high-risk area for money laundering, the state Department of Financial Services said in a statement on Friday.

The bank had “suspicious” accounts that were formed with the help of Mossack Fonseca, the law firm at the center of the “Panama Papers” leak, which revealed companies and wealthy individuals who dodged taxes, the DFS said.

 The bank had lax controls and relied on untrained personnel, including a chief compliance officer who wasn’t familiar with anti-money-laundering rules.

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PwC faces record $5.5bn lawsuit over mortgage underwriter collapse

Oh yeah, and it was all the homeowners’ fault… Give me a break! Gotta be on the take to believe homeowners had anything at all to do with this scheme!

Justice League

The big-four audit firm PwC is being sued for $5.5 billion over its failure to detect a fraud that resulted in a bank collapse during the global financial crisis of 2008-2009. This is the biggest lawsuit in PwC history.

The complainant is Taylor, Bean & Whitaker (TBW), which was a top-10 wholesale mortgage lending firm. The trustees of the company are accusing PwC of negligence in their audits of TBW’s lender, Colonial Bank.

In an agreement between the top management of the borrower and the bank, starting from 2002, TBW chairman Lee Farkas sent mortgage data to Colonial Bank for fake loans or those the company had already committed or sold to other investors. By the end of 2007, the scheme had helped the bank accumulate about $1.5 billion in fake or impaired loans.

Read on.

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Can a Future Financial Crisis Be Prevented?

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The fifth of a sixth part McCuistion TV program series aired recently. The series, a collaboration with the National Center for Policy Analysis Financial Crisis Summit, featured two of my Bank Whistleblowers United colleagues, William K. Black, Michael Winston and me.

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