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OCC underestimated risk of robo-signing scandal
The Office of the Comptroller of the Currency missed signs of the robo-signing scandal because its examiners underestimated the risk and lacked enough guidance to find it, according to the Treasury Department Inspector General. In March, the five largest mortgage servicers settled with federal regulators and the state attorneys for $25 ...
June 3, 2012
Robo-signing whistleblower gets awarded millions
Check out this video from TBWS Daily about the $18-million payout awarded to Lynn Szymoniak, the Florida homeowner and attorney who exposed the "Linda Green" robo-signing scandal, after she filed a whistle-blower lawsuit under the federal False Claims Act. . Tucked into the landmark $25 billion national foreclosure ...
March 19, 2012
MERS's Business Model Ruled Illegal
United States Bankruptcy Judge Robert Grossman has ruled that MERS's business practices are unlawful. He explicitly acknowledged that this ruling sets a precedent that has far-reaching implications for half of the mortgages in this country. MERS is dead. The banks are in big trouble. And all foreclosures should be stopped immediately ...
February 27, 2012
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