big banks at risk in foreclosure fraud

[urbanrealtor]

[quote=pabloesqobar][quote=jpinpb]Right. The point being the statute of limitations is not restricted b/c it can be an unspecified time when and until you find out there’s fraud.[/quote]

Not entirely correct, but that’s still a far cry from your flawed assertion that “there is no statute of limitations for fraud”. That’s the only point I was making. All SOL’s have rules as to how they are applied. And it’s “rudimentary”, not “rudementary”.[/quote]

Only if its followed by “peni”

http://en.wikipedia.org/wiki/Rudimentary_Peni

[Coronita]

Well, looks like the idea of getting a free home isn’t going to pan out for most people (thank god…)

Bring it on!

http://news.yahoo.com/s/ap/20101018/ap_on_bi_ge/us_bank_of_america_foreclosures

WASHINGTON – Bank of America plans to resume foreclosures on more than 100,000 homes in 23 states next week, saying Monday it has a legal right to seize them.

Bank of America Corp., the country’s largest bank, began halting foreclosures on Oct. 2 amid questions of faulty paperwork.

The company on Monday said it plans to resubmit documents with new signatures in states that require a judge’s approval to restart the foreclosure process.

It will continue delaying foreclosures in 27 states that do not require a judge’s approval.

The entire process will result in fewer than 30,000 foreclosures being delayed, the company said.

The company’s initial assessment shows that “the basis for our foreclosure decisions is accurate,” said Dan Frahm, a Bank of America spokesman.

Bank of America is the only lender to halt foreclosures in all 50 states. Other companies including Ally Financial Inc.’s GMAC Mortgage unit, PNC Financial Services Inc. and JPMorgan Chase & Co. have halted tens of thousands of foreclosures after similar practices became public.

The growing questions about foreclosure documents could cause thousands of homeowners to contest foreclosures that are in the works or completed. Analysts say most homeowners facing foreclosure are still likely to lose their homes.

Shares of the Charlotte, N.C.-based bank had been flat earlier in the day but jumped on the news. They rose 35 cents, or 2.9 percent to $12.33 in afternoon trading.

Also….

http://abcnews.go.com/Business/wireStory?id=11883892

Wells Fargo & Co. does not plan to halt foreclosures despite an employee’s testimony that she signed up to 500 foreclosure documents daily without reading them.

The employee of the San Francisco-based bank said in a deposition taken last March that she signed between 300 and 500 foreclosure documents per day, verifying only her name and title.

Such practices have been called into question by attorneys general in 50 states. They have accused mortgage companies of violating state laws.

Wells has not halted foreclosures and says it has discovered no problems in the legal documents used to process them. The company said earlier in the week that it would review pending foreclosures for potential defects.

“Our records show that Wells Fargo’s foreclosure affidavits are accurate,” said company spokeswoman Vickee Adams. When the company finds employees that don’t follow procedure, it takes “corrective action.” She declined to comment on whether the Fort Mill, S.C.-based employee, Xee Moua, still works for Wells.

[Coronita]

Well, looks like the idea of getting a free home isn’t going to pan out for most people (thank god…)

Bring it on!

http://news.yahoo.com/s/ap/20101018/ap_on_bi_ge/us_bank_of_america_foreclosures

WASHINGTON – Bank of America plans to resume foreclosures on more than 100,000 homes in 23 states next week, saying Monday it has a legal right to seize them.

Bank of America Corp., the country’s largest bank, began halting foreclosures on Oct. 2 amid questions of faulty paperwork.

The company on Monday said it plans to resubmit documents with new signatures in states that require a judge’s approval to restart the foreclosure process.

It will continue delaying foreclosures in 27 states that do not require a judge’s approval.

The entire process will result in fewer than 30,000 foreclosures being delayed, the company said.

The company’s initial assessment shows that “the basis for our foreclosure decisions is accurate,” said Dan Frahm, a Bank of America spokesman.

Bank of America is the only lender to halt foreclosures in all 50 states. Other companies including Ally Financial Inc.’s GMAC Mortgage unit, PNC Financial Services Inc. and JPMorgan Chase & Co. have halted tens of thousands of foreclosures after similar practices became public.

The growing questions about foreclosure documents could cause thousands of homeowners to contest foreclosures that are in the works or completed. Analysts say most homeowners facing foreclosure are still likely to lose their homes.

Shares of the Charlotte, N.C.-based bank had been flat earlier in the day but jumped on the news. They rose 35 cents, or 2.9 percent to $12.33 in afternoon trading.

Also….

http://abcnews.go.com/Business/wireStory?id=11883892

Wells Fargo & Co. does not plan to halt foreclosures despite an employee’s testimony that she signed up to 500 foreclosure documents daily without reading them.

The employee of the San Francisco-based bank said in a deposition taken last March that she signed between 300 and 500 foreclosure documents per day, verifying only her name and title.

Such practices have been called into question by attorneys general in 50 states. They have accused mortgage companies of violating state laws.

Wells has not halted foreclosures and says it has discovered no problems in the legal documents used to process them. The company said earlier in the week that it would review pending foreclosures for potential defects.

“Our records show that Wells Fargo’s foreclosure affidavits are accurate,” said company spokeswoman Vickee Adams. When the company finds employees that don’t follow procedure, it takes “corrective action.” She declined to comment on whether the Fort Mill, S.C.-based employee, Xee Moua, still works for Wells.

[Coronita]

Well, looks like the idea of getting a free home isn’t going to pan out for most people (thank god…)

Bring it on!

http://news.yahoo.com/s/ap/20101018/ap_on_bi_ge/us_bank_of_america_foreclosures

WASHINGTON – Bank of America plans to resume foreclosures on more than 100,000 homes in 23 states next week, saying Monday it has a legal right to seize them.

Bank of America Corp., the country’s largest bank, began halting foreclosures on Oct. 2 amid questions of faulty paperwork.

The company on Monday said it plans to resubmit documents with new signatures in states that require a judge’s approval to restart the foreclosure process.

It will continue delaying foreclosures in 27 states that do not require a judge’s approval.

The entire process will result in fewer than 30,000 foreclosures being delayed, the company said.

The company’s initial assessment shows that “the basis for our foreclosure decisions is accurate,” said Dan Frahm, a Bank of America spokesman.

Bank of America is the only lender to halt foreclosures in all 50 states. Other companies including Ally Financial Inc.’s GMAC Mortgage unit, PNC Financial Services Inc. and JPMorgan Chase & Co. have halted tens of thousands of foreclosures after similar practices became public.

The growing questions about foreclosure documents could cause thousands of homeowners to contest foreclosures that are in the works or completed. Analysts say most homeowners facing foreclosure are still likely to lose their homes.

Shares of the Charlotte, N.C.-based bank had been flat earlier in the day but jumped on the news. They rose 35 cents, or 2.9 percent to $12.33 in afternoon trading.

Also….

http://abcnews.go.com/Business/wireStory?id=11883892

Wells Fargo & Co. does not plan to halt foreclosures despite an employee’s testimony that she signed up to 500 foreclosure documents daily without reading them.

The employee of the San Francisco-based bank said in a deposition taken last March that she signed between 300 and 500 foreclosure documents per day, verifying only her name and title.

Such practices have been called into question by attorneys general in 50 states. They have accused mortgage companies of violating state laws.

Wells has not halted foreclosures and says it has discovered no problems in the legal documents used to process them. The company said earlier in the week that it would review pending foreclosures for potential defects.

“Our records show that Wells Fargo’s foreclosure affidavits are accurate,” said company spokeswoman Vickee Adams. When the company finds employees that don’t follow procedure, it takes “corrective action.” She declined to comment on whether the Fort Mill, S.C.-based employee, Xee Moua, still works for Wells.

[Coronita]

Well, looks like the idea of getting a free home isn’t going to pan out for most people (thank god…)

Bring it on!

http://news.yahoo.com/s/ap/20101018/ap_on_bi_ge/us_bank_of_america_foreclosures

WASHINGTON – Bank of America plans to resume foreclosures on more than 100,000 homes in 23 states next week, saying Monday it has a legal right to seize them.

Bank of America Corp., the country’s largest bank, began halting foreclosures on Oct. 2 amid questions of faulty paperwork.

The company on Monday said it plans to resubmit documents with new signatures in states that require a judge’s approval to restart the foreclosure process.

It will continue delaying foreclosures in 27 states that do not require a judge’s approval.

The entire process will result in fewer than 30,000 foreclosures being delayed, the company said.

The company’s initial assessment shows that “the basis for our foreclosure decisions is accurate,” said Dan Frahm, a Bank of America spokesman.

Bank of America is the only lender to halt foreclosures in all 50 states. Other companies including Ally Financial Inc.’s GMAC Mortgage unit, PNC Financial Services Inc. and JPMorgan Chase & Co. have halted tens of thousands of foreclosures after similar practices became public.

The growing questions about foreclosure documents could cause thousands of homeowners to contest foreclosures that are in the works or completed. Analysts say most homeowners facing foreclosure are still likely to lose their homes.

Shares of the Charlotte, N.C.-based bank had been flat earlier in the day but jumped on the news. They rose 35 cents, or 2.9 percent to $12.33 in afternoon trading.

Also….

http://abcnews.go.com/Business/wireStory?id=11883892

Wells Fargo & Co. does not plan to halt foreclosures despite an employee’s testimony that she signed up to 500 foreclosure documents daily without reading them.

The employee of the San Francisco-based bank said in a deposition taken last March that she signed between 300 and 500 foreclosure documents per day, verifying only her name and title.

Such practices have been called into question by attorneys general in 50 states. They have accused mortgage companies of violating state laws.

Wells has not halted foreclosures and says it has discovered no problems in the legal documents used to process them. The company said earlier in the week that it would review pending foreclosures for potential defects.

“Our records show that Wells Fargo’s foreclosure affidavits are accurate,” said company spokeswoman Vickee Adams. When the company finds employees that don’t follow procedure, it takes “corrective action.” She declined to comment on whether the Fort Mill, S.C.-based employee, Xee Moua, still works for Wells.

[Coronita]

Well, looks like the idea of getting a free home isn’t going to pan out for most people (thank god…)

Bring it on!

http://news.yahoo.com/s/ap/20101018/ap_on_bi_ge/us_bank_of_america_foreclosures

WASHINGTON – Bank of America plans to resume foreclosures on more than 100,000 homes in 23 states next week, saying Monday it has a legal right to seize them.

Bank of America Corp., the country’s largest bank, began halting foreclosures on Oct. 2 amid questions of faulty paperwork.

The company on Monday said it plans to resubmit documents with new signatures in states that require a judge’s approval to restart the foreclosure process.

It will continue delaying foreclosures in 27 states that do not require a judge’s approval.

The entire process will result in fewer than 30,000 foreclosures being delayed, the company said.

The company’s initial assessment shows that “the basis for our foreclosure decisions is accurate,” said Dan Frahm, a Bank of America spokesman.

Bank of America is the only lender to halt foreclosures in all 50 states. Other companies including Ally Financial Inc.’s GMAC Mortgage unit, PNC Financial Services Inc. and JPMorgan Chase & Co. have halted tens of thousands of foreclosures after similar practices became public.

The growing questions about foreclosure documents could cause thousands of homeowners to contest foreclosures that are in the works or completed. Analysts say most homeowners facing foreclosure are still likely to lose their homes.

Shares of the Charlotte, N.C.-based bank had been flat earlier in the day but jumped on the news. They rose 35 cents, or 2.9 percent to $12.33 in afternoon trading.

Also….

http://abcnews.go.com/Business/wireStory?id=11883892

Wells Fargo & Co. does not plan to halt foreclosures despite an employee’s testimony that she signed up to 500 foreclosure documents daily without reading them.

The employee of the San Francisco-based bank said in a deposition taken last March that she signed between 300 and 500 foreclosure documents per day, verifying only her name and title.

Such practices have been called into question by attorneys general in 50 states. They have accused mortgage companies of violating state laws.

Wells has not halted foreclosures and says it has discovered no problems in the legal documents used to process them. The company said earlier in the week that it would review pending foreclosures for potential defects.

“Our records show that Wells Fargo’s foreclosure affidavits are accurate,” said company spokeswoman Vickee Adams. When the company finds employees that don’t follow procedure, it takes “corrective action.” She declined to comment on whether the Fort Mill, S.C.-based employee, Xee Moua, still works for Wells.

[Coronita]

[quote=briansd1][quote=walterwhite]rich wrote:

But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished,

and i reply:

NOOOOOOO!!! if that’s the case, then the investors win. MBS transactions undone. Banks owe trillions. BANKS implode. govt attempts to reinflate. epic fail. we all die in a giant blazing ball of dung.

and why are parasites necessarily such a bad thing? arent they necessary in the natural order of things.[/quote]

I have to agree with walter on this.

If there is any justice then the contracts are void.

I think that most of us would agree that if we are sold a defective product, we can return it for our money back. And if the seller never delivers the product, then he needs to refund the money.

Same concept with financial products, and even more so if the paperwork was sloppy.[/quote]

Aren’t you investing on foreclosures in Florida, Brian?

[Coronita]

[quote=briansd1][quote=walterwhite]rich wrote:

But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished,

and i reply:

NOOOOOOO!!! if that’s the case, then the investors win. MBS transactions undone. Banks owe trillions. BANKS implode. govt attempts to reinflate. epic fail. we all die in a giant blazing ball of dung.

and why are parasites necessarily such a bad thing? arent they necessary in the natural order of things.[/quote]

I have to agree with walter on this.

If there is any justice then the contracts are void.

I think that most of us would agree that if we are sold a defective product, we can return it for our money back. And if the seller never delivers the product, then he needs to refund the money.

Same concept with financial products, and even more so if the paperwork was sloppy.[/quote]

Aren’t you investing on foreclosures in Florida, Brian?

[Coronita]

[quote=briansd1][quote=walterwhite]rich wrote:

But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished,

and i reply:

NOOOOOOO!!! if that’s the case, then the investors win. MBS transactions undone. Banks owe trillions. BANKS implode. govt attempts to reinflate. epic fail. we all die in a giant blazing ball of dung.

and why are parasites necessarily such a bad thing? arent they necessary in the natural order of things.[/quote]

I have to agree with walter on this.

If there is any justice then the contracts are void.

I think that most of us would agree that if we are sold a defective product, we can return it for our money back. And if the seller never delivers the product, then he needs to refund the money.

Same concept with financial products, and even more so if the paperwork was sloppy.[/quote]

Aren’t you investing on foreclosures in Florida, Brian?

[Coronita]

[quote=briansd1][quote=walterwhite]rich wrote:

But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished,

and i reply:

NOOOOOOO!!! if that’s the case, then the investors win. MBS transactions undone. Banks owe trillions. BANKS implode. govt attempts to reinflate. epic fail. we all die in a giant blazing ball of dung.

and why are parasites necessarily such a bad thing? arent they necessary in the natural order of things.[/quote]

I have to agree with walter on this.

If there is any justice then the contracts are void.

I think that most of us would agree that if we are sold a defective product, we can return it for our money back. And if the seller never delivers the product, then he needs to refund the money.

Same concept with financial products, and even more so if the paperwork was sloppy.[/quote]

Aren’t you investing on foreclosures in Florida, Brian?

[Coronita]

[quote=briansd1][quote=walterwhite]rich wrote:

But I am definitely not in favor of bank”st”ers, or of them skirting the law unpunished,

and i reply:

NOOOOOOO!!! if that’s the case, then the investors win. MBS transactions undone. Banks owe trillions. BANKS implode. govt attempts to reinflate. epic fail. we all die in a giant blazing ball of dung.

and why are parasites necessarily such a bad thing? arent they necessary in the natural order of things.[/quote]

I have to agree with walter on this.

If there is any justice then the contracts are void.

I think that most of us would agree that if we are sold a defective product, we can return it for our money back. And if the seller never delivers the product, then he needs to refund the money.

Same concept with financial products, and even more so if the paperwork was sloppy.[/quote]

Aren’t you investing on foreclosures in Florida, Brian?

[briansd1]

[quote=flu]

Aren’t you investing on foreclosures in Florida, Brian?[/quote]

Yes, I am.

Maybe the title companies will go bankrupt and need bailouts next. Some already have.

[briansd1]

[quote=flu]

Aren’t you investing on foreclosures in Florida, Brian?[/quote]

Yes, I am.

Maybe the title companies will go bankrupt and need bailouts next. Some already have.

[briansd1]

[quote=flu]

Aren’t you investing on foreclosures in Florida, Brian?[/quote]

Yes, I am.

Maybe the title companies will go bankrupt and need bailouts next. Some already have.

[briansd1]

[quote=flu]

Aren’t you investing on foreclosures in Florida, Brian?[/quote]

Yes, I am.

Maybe the title companies will go bankrupt and need bailouts next. Some already have.

[Author]

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