Regulators Let Banks Hire Friendlies for 'Independent' Foreclosure Fraud Reviews


Regulators Let Banks Hire Friendlies for ‘Independent’ Foreclosure Fraud Reviews

Regulators Let Banks Hire Friendlies for ‘Independent’ Foreclosure Fraud Reviews

Now C’mon don’t act too surprised.

We know what’s going to be the end result and it’s not going to benefit the 99%.

American Banker-

Can you count on the emperor’s handpicked ministers to tell him when he’s naked? Banking regulators seem to think so.

The April consent orders against mortgage servicers let the companies pick one or more professional-services firms to review their foreclosure actions for abuses and report the findings to the agencies.

Allowing the banks to choose their own judge, jury, and jailer presents almost untenable conflicts of interest. A


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2 Responses to “Regulators Let Banks Hire Friendlies for ‘Independent’ Foreclosure Fraud Reviews”


  1. […] Posted on09 October 2011. Tags: 15-page bank proposal, 16-page document, 27-page document, 50 state settlement, adam levitin, Adecco Technical, agreement, attorney generals, CFPB, Charles W. Calomiris, CONSENT ORDERS, counter, Draft Uniform Servicing Standars, Eric J. Higgins, foreclosure fraud, John Walsh, Joseph R. Mason, Lender Processing Services Inc., LPS, MERS, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., OCC, Office Of The Comptroller Of The Currency, servicers As I’ve said it before, Don’t expect this bunch of dog shit to benefit you. […]

  2. […] going to turn the right or left cheek to this and think all this bullshit would actually be “independent“ when the regulators let the banks hire the Foreclosure Fraud […]

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