Criminal Fraud at the Root of Mortgages and Foreclosures

May 6, 2014

I recently received the following email from a former US Government Criminal Fraud Investigator. I thought I would share it with you.

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I agree 100 percent with your findings.

I am a former Agent for the US Government Criminal Investigation Division and have investigated many, many foreclosure cases, most of which I have found absolute fraud, misrepresentation, fraudulent, fictitious, manufactured documents and forgeries by banks and their associate organizations. One example is the

“LINDA GREEN” incident that was exposed by CBS, with the fraudulent robo-signing and notarizing of documents that were presented in court actions and trustee sales of properties.

It is very hard to believe that law enforcement agencies, such as County District Attorneys, State Attorney Generals, and more courts, with judges who are or have been some time in their lives, home owners, have had mortgages, trust deeds, and some sort of debt against their properties, become outraged at the methods used by banks to defraud the public. I have seen the recent tremendous fines and levies government agencies have been placing against the banks for fraudulent activities, for the fictitious assignments, and the unethical, illegal methods used in foreclosure activities, plus the maneuvering done with mortgage backed securities between Freddie Mac and Fannie Mae, and the demands for payments and ultimate foreclosure proceedings by banks who don’t even have title to, or can legally show ownership and/or possession of notes and trust deed assignments, they have been successful in taking, (steeling) properties from our citizens.

Yes I agree, that many borrowers accepted loans far more than they could possibly ever expect to repay if hard times hit, but the banks were responsible to be cautious and to understand that when they offered the gigantic, “Free Money”, without financial backing, and loans that far exceeded regulated, legal limits, with their tricky methods of over-loaning with a first mortgage that was sometimes more than the true value of the property, and then a so-called, Equity Line of Credit that as a secondary secured instrument, far, far exceeding loan limits, only for the banks greedy, over lending so as to benefit immediate loan fees from east coast, investors who were also greedy, not considering the absolute potential bubble that had to burst.

I was amazed at the government fine against Chase Bank for $614 Million with Chase admitting to fraud. The BofA with 2.1 Billion and then again with a $13 Billion Dollar fine and penalty, and Ocwen with over $2 Billion in fines. It is a good start, but not enough to put a dent in their pocket books. Other banking or so-called banks, also need to be hit hard, such as Aurora and Nationstar, Mers, and other foreclosure mill operations. When I see one of our Veterans, with a wife and two children placed in the street due to a banks illegal foreclosure, it is sickening and makes one wonder what our legal system is coming to.

I am so pleased to see that Kamala Harris, the California Attorney General has recently put together a Strike Force for Civil and Criminal Investigations of mortgage and foreclosure fraud. I believe her actions will light the way for more states to seek criminal charges against banks and their individual co-conspirators who are manipulating home owners, and who are disgracing the United States legal system with the methods in which they have presented and completely fooled the courts with illegal, unethical and outrageous methods used in foreclosing and placing thousands upon thousands of American families in the street. I also applaud the NY Governor for setting a program so as to allow citizens in every county of NY to seek Grand Jury Investigations of foreclosure fraud by banks.

Thanks to your efforts to expose the greedy, unlawful bankers as well as the law firms who represent them. I see more and more complaints being filed with state Bar Associations against lawyers and law firms who are definitely conspiring along with the banks to defraud the citizens of the rightful ownership of their homes.

I Tip My Hat to you and those who have the courage to fight, and hopefully we will see major changes in law enforcement agencies across our great country, as well as courts, to stop the outrageous methods banks have developed to enrich their own financial positions at the cost of our countries Dream of Home ownership.

Keep up the good work, and GOD BLESS.