Category Archives: Banks

Banks committed wide spread mortgage fraud – 2

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…….. and still are committing it.

Despite assuring everyone that they’ve stopped the practice, the Recorder of Winnebago County Illinois Nacy McPherson, reports that she is still receiving foreclosure filings that appear to have been “robo-signed” 

 

McPherson’s office sampled a small number of foreclosure documents in her office and found hundreds of apparent forgeries.

“‘Linda Green’ is on documents as vice president of Wells Fargo. She’s (on other documents as) vice president of (Mortgage Electronic Registration Systems Inc.). She is vice president of Optical Mortgage Co. as well, and all of the signatures are completely different,” McPherson said. “Another name to take notice of is ‘Pat Kingston.’ She or he has several different titles. Lately, (the lenders or document providers) haven’t been using ‘Linda Green’ as much. There’s a new set of fake names. ‘Brian Blaine’ is the vice president of Chase Mortgage Bank. He is vice president of Washington Mutual Bank. He is vice president of Nations Credit Financial Services Corp. He’s vice president and attorney in fact for IndyMac Federal Bank.”

The Banks, meanwhile, are trying to negotiate an out of court settlement with the US-DOJ while not acknowledging any wrong doing with a side of immunity from future prosecutions.

I think I’ve seen this movie before…

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Except for that little dust up starting in 1938, the last time something in Austria fell, it started a World War. Fitch Ratings joined S&P and Moody’s in downgrading Hungary’s sovereign debt to junk level. Hungary rejected all bids at an auction of 12-month Treasury bills worth 40 billion forint ($186 million) after getting bids for only 22.8 billion forint. However, the concern is not for Hungary, but for neighboring Austria whose banks have a $226 billion exposure to the debt of former Soviet bloc countries. If Austrian banks fail, then… So it begins.