WHY ARE MOST FEDERAL AND STATE REGULATORY AGENCIES SITTING ON THEIR HANDS?

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EDITOR’S NOTE: FOR THREE YEARS WE HAVE BEEN TRACKING THOUSANDS OF COMPLAINTS SENT TO THE FEDERAL RESERVE, OFFICE OF THE CONTROLLER OF THE CURRENCY, OFFICE OF THRIFT SUPERVISION, FDIC, AND STATE BANKING AND BUSINESS REGULATORS RELATING TO SPECIFIC MATTERS THAT ARE IN THEIR CHARTER FOR WHICH THEY ARE EMPOWERED AND FUNDED TO INVESTIGATE AND CAUSE DISCIPLINE TO OCCUR WITH RESPECT TO ANY INSTITUTION WITHIN ITS SCOPE OF AUTHORITY THAT COMMITS VIOLATIONS. THE RESULT? NOT ONE LETTER OR ACTION OTHER THAN AN ACKNOWLEDGMENT OF RECEIPT.

This is why I am leading the charge to pepper the licensing agencies with legitimate complaints of abuses and violations that led to problems for borrowers, homeowners and even lenders. These agencies were created with one prime directive: protect the public. Instead, many of them send letters like the experience reported below. But many agencies are starting to respond. There are notaries whose licensees have been revoked, mortgage brokers whose licenses have been revoked and so on. What should happen is that bank charters should be revoked and lenders masquerading as banks should be prosecuted just like people who practice law without a license.

I also think that the mega and regional banks who were the puppeteers behind this mortgage mess should be subjected to an order to cease and desist from (a) doing any business within a state where they pretender the be lender but were in fact acting as unlicensed mortgage brokers or unlicensed securities brokers (b) AND TO CEASE AND DESIST, in accordance with existing state law, from either prosecuting or defending any action for failure to register properly as a foreign corporation doing business in the state.

Use your Qualified Written request and Your Debt Validation Letter as templates to create eh complaint letter. In most cases, the agency has a form that you can fill out and then attach the letter. My suggestion is that in each case you send a copy of your complaint to the appropriate agencies. They are not hard to find and many of them are listed on this blog under “People, places” etc.

And just a heads up — I have received UNCONFIRMED reports, that scam artists are picking up revoked or expired licenses and even bank charters and taking “deposits” or fees from people who are either in trouble or just gullible thinking they are dealing with a new bank. I’m reporting before confirmation because it makes sense in this environment and if anyone is about to do a deal with a bank or or other company, make sure they are actually a licensed operation and that their address is in the official records of the state.

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“I sent in a complaint, with exactly what has occurred, in that the entire notary Journal has multiple, over 10 alterations in it ( I subpoened to inspect it) Yet, what happens?

The basically say that they will not do Jack Sh*t. Because if its criminal, its not there “area” . well if it was not criminal, what would someone possibly complain about?

Dear Mar Nali:
Thank you for your inquiry.

Your inquiry has been forwarded to the Notary Public Section for a response. In the future you may wish to contact us directly at Notaries@sos.ca.gov.

For information regarding reporting possible violations of the duties of a notary public, please refer to our website at http://www.sos.ca.gov/business/notary/file-a-complaint.htm. Please complete a complaint form and provide copies of any documentation regarding the violations and mail everything to our office for review by our Investigations Unit.

If you believe that fraud or other criminal acts such as forgery, elderly abuse, embezzlement, filing false documents of record, etc. have been committed, these matters should be referred to the local authorities or the District Attorney’s office in the county where the fraudulent acts allegedly occurred. Complaints of a criminal or civil nature do not fall under the purview of the Secretary of State’s office.

Sincerely,

Notary Public Section

California Secretary of State”

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