Friday, November 25, 2011

OCC RELEASES STATUS REPORT ON FIXING DEFICIENT FORECLOSURE PRACTICES -- IS THIS ANOTHER WHITEWASH TO PROTECT THE BANKSTERS?

http://stopforeclosurefraud.com/2011/11/22/occ-releases-status-report-on-fixing-deficient-foreclosure-practices-names-of-consultants-conducting-reviews/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A

http://www.occ.treas.gov/topics/consumer-protection/foreclosure-prevention/JPMC-EL-00000001.pdf

Remember when Chase had thirty days to respond to the OCC on how they were going to fix their deficient foreclosure practices?  This is a status report and  includes what they consider deficient and what they assume has been done correctly.

All you have to do is look at the Deloite review procedure to tell that it is a cover intended to bless the mess and limit payouts by the banks to the injured.

Deloite is "assuming" that the loan and foreclosure documents are correct when they should be "investigating" to see if they are correct. Since there are so many loans in question any investigation has to perform a statistical sample of the documents for validity, fraud, etc.

1 comment:

  1. I read though the document which purports to be the guideline for a review of the foreclosure process. It is ridiculous when read in its particulars.

    In it the Deloitte is assuming that the documentation they are reviewing is correct at the outset and not checking it.

    In fact, much of the documentation is fraudulent because of the robo signing, fabrication of documents including assignments and notes, etc. Deloitte is really not doing any substantive audit. Thus, homeowners will not be able to recover meaningful damages form the banking industry.

    This is a "Whitewash" by the OCC. It is essentially a "bless the fraudulent mess" plan by the banking system.

    It is clear that the banking system can not regulate itself and has become an engineered network of fraud for the privileged

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