JPMorgan Chase Bombshell: The Mortgage Liens were Released and then Foreclosed anyways

Hat Tip to Brent Tantillo, Esq.

In our Thursday broadcast of the Neil Garfield Show Mr. Tantillo offered to send us the transcript of a deposition of the person who was in charge of monitoring the National mortgage Settlement and compliance with restrictions and rules concerning the execution of the settlements that were under the purview of the witness.  The transcript shows a continuation of the pattern of setting the illusion of a monitor when in fact the regulator (monitor in this case) was either forced or allowed to rely upon reports generated from Chase.

While somewhat daunting for those who can fall asleep easily while reading, this deposition is very important for those who really want and need more insight into how nearly everything JPM Chase did or said was a carefully constructed lie designed to defraud investors and homeowners who were subjected to foreclosures by parties affiliated with JPMorgan Chase, who had no interest in the loans, while the investors, and the “owners” of derivative hedge products were left holding virtually nothing.

As Mr. Tantillo described on last Thursday’s show, there was major hidden detail to this particular part of the overall fraudulent scheme in which claims were false predicated upon securitization: the mortgage liens were released. Thus while JPMorgan Chase was having lawyers sue in foreclosure on a mortgage lien, it was for “other purposes” releasing and satisfying the liens in order to escape regulations that would have cost money.   By lying on both ends of the stick they got the best of both worlds — until Brent Tantillo came along and filed suit on behalf of the investors who were defrauded.